v3.26.3
Stock Options and Warrants (Tables)
 9 Months Ended
Sep. 30, 2026
Stock Options And Warrants [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 2026 and 2025 is presented below:

 

 

September 30, 2026

 

 

September 30, 2025

 

 

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

 

Shares
 Underlying
 Options

 

 

Weighted
Average
 Exercise Price

 

Outstanding at beginning of period

 

 

830,500

 

 

$

19.08

 

 

 

944,255

 

 

$

18.76

 

Acquired and converted options from acquisition (*)

 

 

177,404

 

 

 

26.91

 

 

 

—

 

 

 

—

 

Granted during the period

 

 

56,800

 

 

 

38.05

 

 

 

10,000

 

 

 

32.86

 

Forfeited during the period

 

 

(20,029

)

 

 

25.96

 

 

 

(25,181

)

 

 

19.78

 

Exercised during the period

 

 

(152,105

)

 

 

21.01

 

 

 

(92,574

)

 

 

17.25

 

Outstanding at the end of period

 

 

892,570

 

 

$

21.36

 

 

 

836,500

 

 

$

19.07

 

Options exercisable at end of period

 

 

727,418

 

 

$

19.49

 

 

 

622,700

 

 

$

18.48

 

Weighted-average grant date fair value of options granted during the period

 

 

 

 

$

6.36

 

 

 

 

 

$

12.76

 

 

(*) Includes 29,852 options granted post-merger under the Keystone Plan which are not fully vested.
Schedule of Nonvested Share Activity

A summary of the activity in the Company’s nonvested shares for the nine months ended September 30, 2026 and 2025 is as follows:

 

 

September 30, 2026

 

 

September 30, 2025

 

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Shares

 

 

Weighted Average Grant Date Fair Value

 

Nonvested at beginning of period

 

 

179,450

 

 

$

5.33

 

 

 

320,970

 

 

$

4.50

 

Acquired and converted options from acquisition

 

 

171,893

 

 

n/a

 

 

 

—

 

 

 

0.00

 

Granted during the period

 

 

56,800

 

 

 

6.36

 

 

 

10,000

 

 

 

12.76

 

Vested during the period

 

 

(238,391

)

 

 

16.60

 

 

 

(107,270

)

 

 

3.90

 

Forfeited during the period

 

 

(4,600

)

 

 

11.65

 

 

 

(9,900

)

 

 

3.98

 

Nonvested at end of period

 

 

165,152

 

 

$

8.86

 

 

 

213,800

 

 

$

5.18

 
Summary of Activity for Non-vested RSAs

A summary of the activity for non-vested RSAs for the nine months ended September 30, 2026 and 2025 is presented below:

 

 

September 30, 2026

 

 

September 30, 2025

 

 

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

 

Shares

 

 

Weighted
Average
Grant Date
 Fair Value

 

Nonvested at beginning of period

 

 

94,297

 

 

$

20.45

 

 

 

98,240

 

 

$

19.38

 

Granted during the period

 

 

103,182

 

 

 

38.63

 

 

 

40,661

 

 

 

33.65

 

Vested during the period

 

 

(43,949

)

 

 

19.05

 

 

 

(48,774

)

 

 

16.98

 

Forfeited during the period

 

 

(10,000

)

 

 

42.13

 

 

 

(5,252

)

 

 

24.70

 

Nonvested at the end of period

 

 

143,530

 

 

$

36.27

 

 

 

84,875

 

 

$

22.72