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STOCK COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2024
STOCK COMPENSATION PLANS |
STOCK COMPENSATION PLANS | (8) STOCK COMPENSATION PLANS Restricted Stock Units (RSUs) The table below shows the number of RSUs available for issuance at December 31, 2024: ​
​ | ​ | ​
Total authorized RSUs in Plan approved by shareholders |  | 4,850,000
Stock issued out of the Plan from vested grants |  | (3,761,430)
Non-vested grants |  | (1,034,486)
RSUs available for future issuance |  | 54,084
​
​ | ​ | ​
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 as of December 31, 2023 |  | 858,363
Awarded - weighted average share price on award date was $5.69 |  | 599,013
Vested |  | (380,390)
Forfeited |  | (42,500)
Non-vested grants as of December 31, 2024 |  | 1,034,486
​ RSU Vesting Schedule ​
​ | ​ | ​
Vesting Year |  | RSUs Vesting
2025 |  | 682,068
2026 |  | 176,210
2027 | ​ | 176,208
​ | ​ | 1,034,486
​ Shares vested in 2024 had a value of $2.0 million based on the share price of $5.33 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 $8.9 million based on the March 10, 2025 closing stock price of $8.60. For the years ended December 31, 2024 and 2023, stock-based compensation was $4.5 million and $3.6 million, respectively. As of December 31, 2024, unrecognized stock compensation expense to be recognized over the remaining 3-year vesting period was $2.7 million, and we had 54,084 RSUs available for future issuance. RSUs are not allocated earnings and losses as they are considered non-participating securities. Forfeitures are recognized as they occur. Stock Options We have no stock options outstanding.

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