The Company has granted non-qualified and incentive stock options to employees under the Amended and Restated 2012 Share Incentive Plan (the “2012 Plan”). The fair values of these options were estimated on the grant dates using the Black-Scholes option pricing model, which required estimates of the expected term of the option, the risk-free interest rate, the expected volatility of the price of the Company’s common stock, and dividend yield. Options outstanding as of September 30, 2026, generally vested over a period of 3 years and expire 10 years from the date of grant. The exercise price of these options is $66.68. Due to the Company’s lack of option exercise history on the date of grant, the expected term was calculated using the simplified method defined as the midpoint between the vesting period and the contractual term of each option. The risk-free interest rate was based on the U.S. Treasury yield curve in effect on the date of grant that most closely corresponded to the expected term of the option. The expected volatility was based on the historical volatility of the Company’s common stock over the period of time equivalent to the expected term for each award. The dividend yield was computed as the annualized dividend


	Nine months ended September 30,
	2026			2025
	Awards	Weighted-Average Exercise Price		Awards	Weighted-Average Exercise Price

Outstanding at beginning of period	22	$	66.68	22	$	66.68
Exercised	—	—		—	—
Forfeited	—	—		—	—
Outstanding at end of the period	22	$	66.68	22	$	66.68
Exercisable at end of the period	22	$	66.68	22	$	66.68

As of September 30, 2026, the weighted-average remaining contractual life for both the outstanding stock options and exercisable stock options was 1.4 years with an aggregate intrinsic value of $0. There was no unrecognized compensation on the awards for the periods ended September 30, 2026 and 2025. There were no stock options exercised for the nine months ended September 30, 2026 and 2025. For the nine months ended September 30, 2026 and 2025, the Company received no cash proceeds from the exercise of stock options.

The Company has granted restricted stock under the 2012 Plan to employees and non-employee directors generally with vesting terms up to 3 years after the date of grant. The fair value of the restricted stock is equal to the market price of the Company’s common stock on the date of grant. Expense for restricted stock is amortized ratably over the vesting period.


	Nine months ended September 30,
	2026			2025
	Shares	Weighted-Average Grant Date Fair Value		Shares	Weighted-Average Grant Date Fair Value

Outstanding at beginning of period	677	$	24.76	279	$	57.21
Granted	490	10.19		533	13.75
Vested	(260)	29.52		(80)	67.32
Forfeited	(129)	13.43		(18)	19.93
Outstanding at end of the period	778	$	15.88	714	$	24.55

The Company withheld approximately 77 thousand shares and 27 thousand shares of the Company’s common stock to cover minimum tax liability withholding obligations upon the vesting of shares of restricted stock for the nine months ended September 30, 2026 and 2025, respectively. The total fair value of restricted stock awards vested during the nine months ended September 30, 2026 and 2025 was $2.6 million and $1.1 million, respectively.

The Company has granted market and performance-based share awards in 2023, and 2025, and performance-based share awards in 2024 and 2026 under the 2012 Plan to certain key executives who were granted deferred shares and may earn between 0% and 210% of the target number depending upon both the Company’s total stockholder return (“TSR”), for those with market conditions, and the Company’s performance against predetermined performance goals over a three-year performance period after the date of grant. Market and performance-based share awards that are tied to the Company’s TSR are valued using the Monte Carlo method and are recognized ratably as expense over the award’s performance period. The fair

value of the performance-based share awards is equal to the market price of the Company’s common stock on the date of grant adjusted by the expected level of achievement over the performance period. Expense for performance-based share awards is amortized ratably over the performance period. In the event that management determines that the Company will not reach the lower threshold of the predetermined performance goals established in the grant agreement, any previously recognized expense is reversed in the period in which such a determination is made.

The total fair value of market and performance-based share awards issued during the nine months ended September 30, 2026 was $0.2 million. The Company withheld approximately 8 thousand shares for the nine months ended September 30, 2026 to cover minimum tax liability withholding obligations upon the issuance of shares of market and performance-based share awards. No market and performance-based share awards were issued during the nine months ended September 30, 2025, as a result of the market and performance-based share awards granted in March of 2022 not reaching the lower threshold of the predetermined performance goals.

Share-based compensation expense is recorded in selling, general, and administrative expense in the accompanying Condensed Consolidated Statements of Operations (Unaudited). The total expense during the three months ended September 30, 2026 and 2025 was as follows (in thousands):


	Three months ended September 30,
	2026			2025
	Shares	Share-Based Compensation Expense		Shares	Share-Based Compensation Expense
Options and restricted stock	800	$	1,222	736	$	1,565
Performance-based share awards granted in 2026	173	150		—	—
Market and performance-based share awards granted in 2025	275	371		319	407
Performance-based share awards granted in 2024	35	107		117	(1,181)
Market and performance-based share awards granted in 2023	—	—		47	119
Total share-based compensation	1,283	$	1,850	1,219	$	910


	Nine months ended September 30,
	2026			2025
	Shares	Share-Based Compensation Expense		Shares	Share-Based Compensation Expense
Options and restricted stock	800	$	3,955	736	$	4,563
Performance-based share awards granted in 2026	173	312		—	$	—
Market and performance-based share awards granted in 2025	275	1,032		319	875
Performance-based share awards granted in 2024	35	265		117	(444)
Market and performance-based share awards granted in 2023	—	—		47	473
Total share-based compensation	1,283	$	5,564	1,219	$	5,467

The total income tax benefit recognized in the accompanying Condensed Consolidated Statements of Operations (Unaudited) for restricted stock awards was $0.6 million and $0.2 million for the three months ended September 30, 2026 and 2025, respectively, and income tax expense of $0.1 million and of $0.1 million for the nine months ended September 30, 2026 and 2025, respectively.

There was $6.3 million of total unrecognized compensation expense related to restricted stock awards as of September 30, 2026, which is expected to be recognized over a weighted-average period of 1.7 years. There was $3.3 million of unrecognized compensation expense related to the 275 thousand market and performance-based shares and 208 thousand performance-based shares presented in the table above as of September 30, 2026, which is expected to be recognized over a weighted-average period of 1.6 years.