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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity | The following table presents certain information related to the activity of our non-vested stock option grants:
| Number of Stock Options |  | Weighted Average Exercise Prices |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (3)
Outstanding as of December 31, 2023(1) | 1,028,760 |  |  | $ | 3.83 |  |  | 7.80 |  |  | $ | 6,151,000 |
Granted | 196,275 |  |  | 4.82 |  |  | — |  |  | — |
Less: Forfeited | — |  |  | — |  |  | — |  |  | — |
Less: Expired | — |  |  | — |  |  | — |  |  | — |
Less: Exercised | 35,000 |  |  | 1.70 |  |  | — |  |  | — |
Outstanding as of June 30, 2024 | 1,190,035 |  |  | $ | 4.05 |  |  | 7.71 |  |  | $ | 8,044,000 |
Vested as of June 30, 2024(2) | 1,126,019 |  |  | $ | 4.34 |  |  | 7.32 |  |  | $ | 4,976,000 |
Exercisable as of June 30, 2024 | 750,768 |  |  | $ | 4.34 |  |  | 7.32 |  |  | $ | 4,976,000 |
(1) Contingent options granted during 2023 have been excluded from the calculations above. (2) The vested shares are calculated based on all vested shares at June 30, 2024, inclusive of those that have since expired. The weighted average exercise prices, weighted-average remaining contractual term and aggregate intrinsic value is calculated based on only vested shares that are outstanding and exercisable at June 30, 2024. (3) Presented in ones.
Schedule of Nonvested Share Activity | The following table presents certain information related to the activity of our non-vested restricted common stock grants:
| Number of Restricted Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023(1) | 445,646 |  |  | $ | 2.64 |
Granted | 501,746 |  |  | 7.32 |
Less: Forfeited | 856 |  |  | 3.59 |
Less: Vested | 436,472 |  |  | 3.36 |
Outstanding as of June 30, 2024 | 593,819 |  |  | $ | 6.13 |
Share-based Payment Arrangement, Activity | The following table presents our total stock-based compensation expense:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Employee stock-based compensation expense |  |  |  |  |  |  |  |
Pre-tax |  | $ | 667 |  |  | $ | 79 |  |  | $ | 1,037 |  |  | $ | 388 |
Post-tax (1) |  | 527 |  |  | 62 |  |  | 819 |  |  | 307 |
Director stock-based compensation expense |  |  |  |  |  |  |  |
Pre-tax |  | 113 |  |  | 29 |  |  | 171 |  |  | 55 |
Post-tax (1) |  | 89 |  |  | 23 |  |  | 135 |  |  | 43 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted-average assumptions were used to value the stock options granted:
| 2024 |  | 2023
Expected annual dividend yield | — | % |  | — | %
Expected volatility | 86.92 | % |  | 80.84 | %
Risk-free interest rate | 4.37 | % |  | 3.44 | %
Expected term | 6 years |  | 6 years

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