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Note 8 - Stock Compensation Plans | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | (8) STOCK COMPENSATION PLANS Restricted Stock Units (RSUs) The table below shows the number of RSUs available for issuance at December 31, 2023:
Total authorized RSUs in Plan approved by shareholders |  |  | 4,850,000 |
Stock issued out of the Plan from vested grants |  |  | (3,540,178 | )
Non-vested grants |  |  | (858,363 | )
RSUs available for future issuance |  |  | 451,459 |
Non-vested grants at December 31, 2021 |  |  | 183,000 |
Granted – weighted average share price on grant date was $6.74 |  |  | 881,437 |
Vested |  |  | — |
Forfeited |  |  | (7,500 | )
Non-vested grants at December 31, 2022 |  |  | 1,056,937 |
Granted – weighted average share price on grant date was $9.30 |  |  | 312,147 |
Vested |  |  | (472,721 | )
Forfeited |  |  | (38,000 | )
Non-vested grants at December 31, 2023 |  |  | 858,363 |
RSU Vesting Schedule
Vesting Year |  | RSUs Vesting |  |
2024 |  |  | 319,419 |  |
2025 |  |  | 538,944 |  |
Shares vested in 2023 had a value of $5.0 million based on the share price of $10.69 on their vesting dates. Under our RSU plan, participants are allowed to relinquish shares to pay for their required statutory income taxes. The outstanding RSUs have a value of $7.2 million based on the March 8, 2024 closing stock price of $8.39. For the years ended December 31, 2023 and 2022, stock-based compensation was $3.6 million and $1.3 million, respectively. As of December 31, 2023, unrecognized stock compensation expense was $4.1 million, and we had 451,459 RSUs available for future issuance. RSUs are not allocated earnings and losses as they are considered non-participating securities. Stock Options We have no stock options outstanding.

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