XML 48 R41.htm IDEA: XBRL DOCUMENT
v3.25.2

Stock-Based Compensation (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Activity | The following table presents the Company's total stock-based compensation expense:
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Employee stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |
Pre-tax | $ | 1,348 |  |  | $ | 667 |  |  | $ | 1,946 |  |  | $ | 1,037 |
Post-tax (1) |  | 1,065 |  |  |  | 527 |  |  |  | 1,537 |  |  |  | 819 |
Director stock-based compensation expense |  |  |  |  |  |  |  |  |  |  |
Pre-tax |  | 123 |  |  |  | 113 |  |  |  | 258 |  |  |  | 171 |
Post-tax (1) |  | 97 |  |  |  | 89 |  |  |  | 204 |  |  |  | 135 |
(1) The after-tax amounts are determined using the 21% corporate federal tax rate.
Schedule of Nonvested Share Activity | The following table presents certain information related to the activity of the Company's non-vested restricted common stock grants:
| Number of Restricted Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of December 31, 2024 |  | 606,411 |  |  | $ | 6.23 |
Granted |  | 447,237 |  |  |  | 11.52 |
Less: Forfeited |  | 1,009 |  |  |  | 11.59 |
Less: Vested |  | 490,623 |  |  |  | 5.24 |
Outstanding as of June 30, 2025 |  | 562,016 |  |  | $ | 10.10 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted-average assumptions were used to value the stock options granted:
| 2025 |  |  | 2024 |
Expected annual dividend yield |  | — | % |  |  | — | %
Expected volatility |  | 88.51 | % |  |  | 86.92 | %
Risk-free interest rate |  | 3.87 | % |  |  | 4.37 | %
Expected term | 6 years |  |  | 6 years |
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity | The following table presents certain information related to the activity of the Company's stock option grants:
| Number of Stock Options |  |  | Weighted Average Exercise Prices |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (2) |
Outstanding as of December 31, 2024 |  | 1,130,035 |  |  | $ | 4.12 |  |  |  | 7.21 |  |  | $ | 10,202,000 |
Granted |  | 76,141 |  |  |  | 11.63 |  |  |  | — |  |  |  | — |
Less: Forfeited |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Less: Expired |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Less: Exercised |  | 240,446 |  |  |  | 3.17 |  |  |  | — |  |  |  | — |
Outstanding as of June 30, 2025 |  | 965,730 |  |  | $ | 4.95 |  |  |  | 7.01 |  |  | $ | 6,284,000 |
Vested as of June 30, 2025 ⁽¹⁾ |  | 1,475,570 |  |  | $ | 4.24 |  |  |  | 6.53 |  |  | $ | 5,791,000 |
Exercisable as of June 30, 2025 |  | 799,869 |  |  | $ | 4.24 |  |  |  | 6.53 |  |  | $ | 5,791,000 |
(1) The vested shares are calculated based on all vested shares at June 30, 2025, 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, 2025. (2) Presented in ones.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration