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STOCK COMPENSATION PLANS | 6 Months Ended
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Jun. 30, 2025
STOCK COMPENSATION PLANS |
STOCK COMPENSATION PLANS |
(9) | STOCK COMPENSATION PLANS
​
​ | ​ | ​
Non-vested grants as of December 31, 2024 |  | 1,034,486
Vested - weighted average share price on vested date was $12.28 |  | (513,068)
Forfeited |  | (9,500)
Non-vested grants as of June 30, 2025 |  | 511,918
​ For the three and six months ended June 30, 2025, our stock compensation expense was $0.5 million and $1.6 million, respectively. For the three and six months ended June 30, 2024, our stock compensation expense was $1.6 million and $2.2 million, respectively. Non-vested RSU grants will vest as follows: ​
​ | ​ | ​
Vesting Year |  | RSUs Vesting
2025 |  | 159,500
2026 |  | 176,210
2027 | ​ | 176,208
​ | ​ | 511,918
​ The outstanding RSUs have a value of $8.1 million based on the June 30, 2025 closing stock price of $15.83. As noted in our Form 8-K filed with the SEC on June 2, 2025, on May 29, 2025, shareholders approved the Second Amended and Restated 2008 Restricted Stock Unit Plan (the “RSU Plan”) which, (i) increased the number of shares available for issuance by 2,000,000 shares, and (ii) extended the term of the RSU Plan until May 29, 2035. As of June 30, 2025, unrecognized stock compensation expense to be recognized over the rolling 3-year vesting period is $1.0 million, and we had 2,219,819 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.

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