Stock Options, Restricted Stock, and Performance Stock Units (Tables)
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9 Months Ended |
Sep. 30, 2026 |
| Stock Options, Restricted Stock, and Performance Stock Units |
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| Summary of weighted average assumptions used in the model for valuing stock option grants |
The weighted average assumptions used in the model for valuing stock options grants for the nine months ended September 30, 2026 are as follows: | | | | | | September 30, | | | | 2026 | | Dividend Yield | | — | % | Expected Life | | 7 | Years | Expected Volatility | | 30.70 | % | Risk-Free Interest Rate | | 4.77 | % |
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| Summary of the status of the Company's outstanding stock options |
The following table presents a summary of the status of the Company’s outstanding stock options for the nine months ended September 30, 2026: | | | | | | | | September 30, 2026 | | | | | Weighted | | | | | Average | | | Shares | | Exercise Price | Outstanding at Beginning of Year | | 1,935,175 | | $ | 11.59 | Granted | | 309,500 | | | 20.79 | Exercised | | (217,282) | | | 10.54 | Forfeitures | | (50,000) | | | 14.45 | Outstanding at Period End | | 1,977,393 | | $ | 13.08 | | | | | | | Options Exercisable at Period End | | 1,323,142 | | $ | 11.24 |
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| Summary of information pertaining to options outstanding based on range of exercise price |
The following table presents information pertaining to options outstanding at September 30, 2026: | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | | | | | Weighted Average | | | | | | | | Number of | | Weighted Average | | Remaining Contractual | | Number of | | Weighted Average | Range of Exercise Prices | | Options | | Exercise Price | | Life in Years | | Options | | Exercise Price | $ | 7.00 - 7.99 | | 569,148 | | $ | 7.47 | | 1.0 | | 569,148 | | $ | 7.47 | | 8.00 - 8.99 | | 2,961 | | | 8.76 | | 3.5 | | 2,961 | | | 8.76 | | 10.00 - 10.99 | | 166,250 | | | 10.65 | | 6.8 | | 114,249 | | | 10.65 | | 11.00 - 11.99 | | 141,275 | | | 11.11 | | 6.0 | | 76,025 | | | 11.12 | | 12.00 - 12.99 | | 230,366 | | | 12.91 | | 2.8 | | 230,366 | | | 12.91 | | 13.00 - 13.99 | | 248,993 | | | 13.77 | | 8.4 | | 61,493 | | | 13.77 | | 17.00 - 17.99 | | 293,900 | | | 17.50 | | 5.7 | | 268,900 | | | 17.50 | | 18.00 - 18.99 | | 60,000 | | | 18.08 | | 9.3 | | — | | | — | | 20.00 - 20.99 | | 7,500 | | | 20.92 | | 9.9 | | — | | | — | | 21.00 - 21.99 | | 257,000 | | | 21.20 | | 10.0 | | — | | | — | | Totals | | 1,977,393 | | $ | 13.08 | | 5.1 | | 1,323,142 | | $ | 11.24 |
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| Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding |
The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the nine months ended September 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Shares | | Date Fair Value | Nonvested Options at December 31, 2025 | | 584,251 | | $ | 5.69 | Granted | | 309,500 | | | 8.97 | Vested | | (192,000) | | | 5.51 | Forfeited | | (47,500) | | | 6.19 | Nonvested Options at September 30, 2026 | | 654,251 | | $ | 7.26 |
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| Summary of the status of the Company's outstanding restricted stock units |
The following table presents an analysis of nonvested restricted stock units outstanding for the nine months ended September 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Units | | Date Fair Value | Nonvested at December 31, 2025 | | 447,661 | | $ | 15.24 | Granted | | 64,419 | | | 19.54 | Vested | | (50,373) | | | 13.93 | Forfeited | | (22,018) | | | 16.28 | Nonvested at September 30, 2026 | | 439,689 | | $ | 15.96 |
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| Summary of analysis of nonvested restricted stock performance units |
The following table presents an analysis of nonvested performance stock units outstanding for the nine months ended September 30, 2026: | | | | | | | | | | Weighted | | | Number of | | Average Grant | | | Units | | Date Fair Value | Nonvested at December 31, 2025 | | — | | $ | — | Granted | | 125,071 | | | 18.81 | Vested | | — | | | — | Forfeited | | — | | | — | Nonvested at September 30, 2026 | | 125,071 | | $ | 18.81 |
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