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Note 13 - Stock Compensation
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

13.

Stock Compensation

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Equity compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the Company's employee stock plans is included in the Company's 2025 Annual Report on Form 10-K. 

 

The Company incurred $935 and $530 in the three months ended June 30, 2026 and 2025, respectively, in additional expense for employees who meet the thresholds of the stock plan's retirement provision. The Company incurred $1,201 and $688 in the six months ended June 30, 2026 and 2025, respectively, in additional expense for employees who meet the thresholds of the stock plan's retirement provision.

 

The Company recognized $2,031 and $224 of compensation expense related to performance share unit awards in the three months ended June 30, 2026 and 2025, respectively. The Company recognized $3,416 and $785 of compensation expense related to performance share unit awards in the six months ended June 30, 2026 and 2025, respectively. The unrecognized compensation expense calculated under the fair value method for performance share units that were, as of  June 30, 2026, expected to be earned through the requisite service period was approximately $5,069 and is expected to be recognized through 2029. For each tranche of the 2024 through 2026 grants, a Monte Carlo simulation has been used to account for the Total Shareholder Return ("TSR") market condition in the grant date fair value of the award. For the first tranche of the 2026 performance share grants, the fair value was $47.43 or $53.78 per share, depending on the grant date. For the second tranche of the 2025 performance share grants, the fair value was $50.45 per share. For the third tranche of the 2024 performance share grants, the fair value was $44.20 per share. 

 

A summary of restricted stock unit activity for the six months ended June 30, 2026 is as follows: 

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Weighted

 
      

Weighted

  

Average

 
      

Average

  

Remaining

 
      

Grant Date

  

Contractual

 
  

Shares

  

Fair value

  

Term (in years)

 
             

Unvested at December 31, 2025

  344,279  $27.27   1.48 

Granted

  105,861  $44.98   2.49 

Vested

  (129,595) $28.27   - 

Cancelled and forfeited

  (3,094) $35.68   - 
             

Unvested at June 30, 2026

  317,451  $32.69   1.64 
             

Expected to vest in the future at June 30, 2026

  306,359  $32.69   1.64 

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The Company recognized $2,419 and $1,330 of compensation expense related to the restricted stock unit awards in the three months ended  June 30, 2026 and 2025, respectively. The Company recognized $3,571 and $2,919 of compensation expense related to the restricted stock unit awards in the six months ended June 30, 2026 and 2025, respectively. The unrecognized compensation expense calculated under the fair value method for restricted shares that were, as of June 30, 2026, expected to be earned through the requisite service period was approximately $6,090 and is expected to be recognized through 2029.

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