Stockholders’ Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Stockholders’ Equity [Abstract] | |
| Stockholders’ Equity | Note 13 – Stockholders’ Equity
Restricted Common Stock
On March 27, 2026, the Board of Directors approved the grant of 1,248,389 shares of common stock (the “Restricted Shares”) to one of the Company’s executive officers, effective as of such date, pursuant to the Company’s 2019 Equity Incentive Plan. On April 22, 2026, the Restricted Shares were recorded in book-entry form in the name of the executive officer by the Company’s transfer agent. The grant was subsequently memorialized and confirmed in a restricted stock grant agreement executed by the Company and the executive officer on July 31, 2026. Effective June 11, 2026, the Company effected a one-for-six reverse stock split, as a result of which the Restricted Shares were adjusted to 208,065 shares, including the rounding up of the resulting fractional share to the nearest whole share. Following the reverse stock split, the Restricted Shares vest as follows: 52,016 shares vested on the grant date; 52,016 shares vest on September 27, 2026; 52,016 shares vest on March 27, 2027; and 52,017 shares vest on September 27, 2027, in each case subject to the executive officer’s continued service through the applicable vesting date. The Restricted Shares had a grant-date fair value of $0.2959 per share, equivalent to $1.7754 per share on a reverse-stock-split-adjusted basis, based on the closing price of the Company’s common stock on March 27, 2026. The aggregate grant-date fair value of the Restricted Shares was approximately $369,398.
For the three months and six months ended June 30, 2026, the Company recorded $140,422 of stock-based compensation expense related to restricted common stock. |