| SCHEDULE OF SHARE BASED PAYMENTS ARRANGEMENT, RESTRICTED STOCK AND RESTRICTED UNIT ACTIVITY |
A
summary of the quantity and vesting conditions for stock-based units granted to the Company’s employees for the six months ended
June 30, 2026 was as follows:
SCHEDULE OF SHARE BASED PAYMENTS ARRANGEMENT, RESTRICTED STOCK AND RESTRICTED UNIT ACTIVITY
| Vesting
conditions | |
Number
of Restricted Stock Units Granted | |
| First Anniversary [Member] Second Anniversary [Member] Third Anniversary [Member] | |
| | |
| Performance
and service conditions - Type 1 (1) (3) | |
| 10,695 | |
| Performance
and service conditions - Type 1 (2) (3) | |
| 240,722 | |
| Service
conditions only - Type 2 (4) | |
| 45,231 | |
| Total
shares of stock award granted | |
| 296,648 | |
| 1. |
The
performance conditions with respect to restricted stock units may be satisfied as follows:
a.
For grants to Corporate office employees subject to 2025 performance conditions, 100% of
the restricted stock units may be earned on the basis of performance as measured by a group
adjusted EBITDA. |
| 2. |
The
performance conditions with respect to restricted stock units may be satisfied as follows:
a.
For grants to Corporate office employees subject to 2026 performance conditions, 100% of
the restricted stock units may be earned on the basis of performance as measured by a group
adjusted EBITDA, corporate costs, and other qualitative factors. |
| 3. |
To
the extent restricted stock units are earned, such restricted stock units will vest on the basis of service as follows:
a.
33% for Type 1 of the restricted stock units will vest on the first anniversary of the grant date;
b.
33% for Type 1 of the restricted stock units will vest on the second anniversary of the grant date; and
c.
34% for Type 1 of the restricted stock units will vest on the third anniversary of the grant date; provided that, in each case, the employee
remains employed by the Company from the grant date through the applicable service vesting date.
|
| 4. |
To
the extent restricted stock units are earned, such restricted stock units will vest on the
basis of service as follows:
a.
100% for Type 2 of the restricted stock units will vest on the first anniversary of the grant
date. |
|
A
summary of the quantity and vesting conditions for stock-based units granted to the Company’s employees for the year ended December
31, 2025 was as follows:
SCHEDULE OF SHARE BASED PAYMENTS ARRANGEMENT, RESTRICTED STOCK AND RESTRICTED UNIT ACTIVITY
| Vesting conditions | |
Number of Restricted Stock Units Granted | |
| Performance and service conditions - Type 1 (1) (2) | |
| 13,296 | |
| Performance and service conditions - Type 2 (1) (2) | |
| 35,392 | |
| Service conditions only - Type 1 and Type 3 (2) (3) | |
| 75,089 | |
| Total shares of stock award granted | |
| 123,777 | |
| (1) | | The performance conditions with respect to restricted stock units may be satisfied as follows:
(a) For grants to Corporate office employees subject to 2025 performance conditions, 100% of the restricted stock units may be earned on the basis of performance as measured by a “group adjusted EBITDA”. |
| (2) |
|
To
the extent restricted stock units are earned, such restricted stock units will vest on the basis of
service as follows:
(a)
33% and 66.6% for Type 1 and Type 2, respectively, of the restricted stock units will vest
on the first anniversary of the grant date;
(b)
33% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest
on the second anniversary of the grant date; and
(c)
34% and 16.7% for Type 1 and Type 2, respectively, of the restricted stock units will vest
on the third anniversary of the grant date; provided that, in each case, the employee remains
employed by the Company from the grant date through the applicable service vesting date. |
| (3) |
|
To
the extent restricted stock units are earned, such restricted stock units will vest on the basis of
service as follows:
(a)
100% for Type 3 of the restricted stock units will vest on the first anniversary of the grant date. |
|
| SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE |
For
the three and six months ended June 30, 2026 and 2025, the Company’s stock-based compensation expense related to restricted stock
units and restricted shares of common stock were as follows:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three
Months Ended June
30, | | |
Six
Months Ended June
30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Restricted
stock units | |
| 707 | | |
| 243 | | |
| 1,191 | | |
| 629 | |
| Stock-based compensation | |
| 707 | | |
| 243 | | |
| 1,191 | | |
| 629 | |
|
For
the years ended December 31, 2025 and 2024, the Company’s stock-based compensation expense related to restricted stock units and
restricted shares of common stock, which are included in the accompanying Consolidated Statements of Operations, were as follows:
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE
| | |
2025 | | |
2024 | |
| | |
For
The Year Ended December 31, | |
| | |
2025 | | |
2024 | |
| Restricted
stock units | |
$ | 1,497 | | |
$ | 1,173 | |
| Restricted
stock units-cash settled liabilities | |
| - | | |
| 107 | |
| Total | |
$ | 1,497 | | |
$ | 1,280 | |
|
| SCHEDULE OF UNRECOGNIZED COMPENSATION COST, NON VESTED AWARDS |
|
As
of December 31, 2025 and 2024, the Company’s unrecognized compensation expense and the weighted average periods over which the
compensation expense is expected to be recognized relating to the unvested portion of the Company’s restricted stock unit awards,
were as follows:
SCHEDULE
OF UNRECOGNIZED COMPENSATION COST, NON VESTED AWARDS
| | |
As
of December 31, | |
| | |
2025 | | |
2024 | |
| | |
Unrecognized
Expense | | |
Weighted
Average Period in Years | | |
Unrecognized
Expense | | |
Weighted
Average Period in Years | |
| Restricted
stock units | |
$ | 1,182 | | |
| 0.9 | | |
$ | 1,445 | | |
| 0.9 | |
|
| SCHEDULE OF CHANGES IN RESTRICTED STOCK UNITS AND SHARES |
Changes
in the Company’s restricted stock units for the six months ended June 30, 2026 and 2025 were as follows:
SCHEDULE OF CHANGES IN RESTRICTED STOCK UNITS AND SHARES
| | |
Six
Months Ended June 30, 2026 | |
| | |
Performance-based | | |
Time-based/Director | | |
Total | |
| | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | |
| Unvested
restricted stock units at January 1, 2026 | |
| 62,266 | | |
$ | 13.64 | | |
| 197,485 | | |
$ | 11.75 | | |
| 259,751 | | |
$ | 12.20 | |
| Granted | |
| 251,417 | | |
$ | 9.91 | | |
| 45,231 | | |
$ | 11.39 | | |
| 296,648 | | |
$ | 10.14 | |
| Vested | |
| (17,118 | ) | |
$ | 13.14 | | |
| (7,007 | ) | |
$ | 15.07 | | |
| (24,125 | ) | |
$ | 13.70 | |
| Forfeited | |
| (23,508 | ) | |
$ | 13.16 | | |
| - | | |
$ | - | | |
| (23,508 | ) | |
$ | 13.16 | |
| Unvested
restricted stock units at June 30, 2026 | |
| 273,057 | | |
$ | 10.28 | | |
| 235,709 | | |
$ | 11.58 | | |
| 508,766 | | |
$ | 10.88 | |
(a)
The number of shares earned above target are based on the performance target established by the Compensation Committee at the initial
grant date.
| | |
Six
Months Ended June 30, 2025 | |
| | |
Performance-based | | |
Time-based/Director | | |
Total | |
| | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | |
| Unvested
restricted stock units at January 1, 2025 | |
| 55,591 | | |
$ | 17.58 | | |
| 128,474 | | |
$ | 14.96 | | |
| 184,065 | | |
$ | 15.75 | |
| Granted | |
| 48,688 | | |
$ | 13.15 | | |
| 7,868 | | |
$ | 10.04 | | |
| 56,556 | | |
$ | 12.72 | |
| Vested | |
| (7,280 | ) | |
$ | 35.57 | | |
| (11,522 | ) | |
$ | 12.46 | | |
| (18,802 | ) | |
$ | 21.41 | |
| Forfeited | |
| (48,311 | ) | |
$ | 14.87 | | |
| (3,264 | ) | |
$ | 20.97 | | |
| (51,575 | ) | |
$ | 15.26 | |
| Unvested
restricted stock units at June 30, 2025 | |
| 48,688 | | |
$ | 13.15 | | |
| 121,556 | | |
$ | 14.72 | | |
| 170,244 | | |
$ | 14.27 | |
|
Changes
in the Company’s restricted stock units arising from grants to certain employees and non-employee directors for the years ended
December 31, 2025 and 2024 were as follows:
SCHEDULE OF CHANGES IN RESTRICTED STOCK UNITS AND SHARES
| | |
Year
Ended December 31, 2025 | |
| | |
Performance-based | | |
Time-based/Director | | |
Total | |
| | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | |
| Unvested
restricted stock units at January 1 | |
| 55,591 | | |
$ | 17.58 | | |
| 128,474 | | |
$ | 14.96 | | |
| 184,065 | | |
$ | 15.75 | |
| Granted | |
| 48,688 | | |
$ | 13.15 | | |
| 129,330 | | |
$ | 9.74 | | |
| 178,018 | | |
$ | 10.67 | |
| SOC
Grants assumed | |
| 22,717 | | |
$ | 15.17 | | |
| 6,046 | | |
$ | 14.07 | | |
| 28,763 | | |
$ | 14.94 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Vested | |
| (16,419 | ) | |
$ | 24.05 | | |
| (63,101 | ) | |
$ | 13.90 | | |
| (79,520 | ) | |
$ | 16.00 | |
| Forfeited | |
| (48,311 | ) | |
$ | 14.87 | | |
| (3,264 | ) | |
$ | 20.97 | | |
| (51,575 | ) | |
$ | 15.26 | |
| Unvested
restricted stock units at December 31 | |
| 62,266 | | |
$ | 13.64 | | |
| 197,485 | | |
$ | 11.75 | | |
| 259,751 | | |
$ | 12.20 | |
(a)
The number of shares earned above target are based on the performance target established by the Compensation Committee at the initial
grant date.
| | |
Year
Ended December 31, 2024 | |
| | |
Performance-based | | |
Time-based/Director | | |
Total | |
| | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | | |
Number
of Shares of Restricted Stock Units | | |
Weighted
Average Grant-Date Fair Value | |
| Unvested
restricted stock units at January 1 | |
| 95,264 | | |
$ | 23.49 | | |
| 80,422 | | |
$ | 16.50 | | |
| 175,686 | | |
$ | 20.29 | |
| Granted | |
| 47,647 | | |
$ | 14.51 | | |
| 103,197 | | |
$ | 15.03 | | |
| 150,844 | | |
$ | 14.87 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Vested | |
| (58,479 | ) | |
$ | 22.40 | | |
| (54,465 | ) | |
$ | 17.21 | | |
| (112,944 | ) | |
$ | 19.90 | |
| Forfeited | |
| (28,841 | ) | |
$ | 22.27 | | |
| (680 | ) | |
$ | 27.16 | | |
| (29,521 | ) | |
$ | 22.38 | |
| Unvested
restricted stock units at December 31 | |
| 55,591 | | |
$ | 17.58 | | |
| 128,474 | | |
$ | 14.96 | | |
| 184,065 | | |
$ | 15.75 | |
|