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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity

Schedule of Restricted Stock Unit Activity

(Shares In Thousands)  Number of
Shares		   Weighted-
Average
Grant Date Fair Value (Per Unit)		 
Unvested restricted stock units outstanding, January 1, 2025   -    - 
Granted   233   $8.91 
Vested 1   (61)  $12.67 
Forfeited   -    - 
Unvested restricted stock units outstanding, December 31, 2025   172   $7.57 

 

1Total vested shares include 51,832 shares that vested during the year ended December 31, 2025 and for which, delivery was deferred until March 11, 2026, as permitted under the terms of the Equity Incentive Plan.
Summary of Option Activity

A summary of option activity under the Plan for the years ended December 31, 2025 and 2024:

 

(Shares In Thousands)  Number of
Shares		   Weighted-
Average
Exercise Price		   Weighted-
Average
Remaining
Contractual
Term (Years)		 
Options outstanding, January 1, 2024   356   $8.59    6.4 
Options forfeited   (51)  $8.59      
Options outstanding, December 31, 2024   305   $8.59    6.6 
Options exercised   (68)  $8.59      
Options outstanding, December 31, 2025   237   $8.59    5.6 
Vested and exercisable, December 31, 2025   237   $8.59    5.6 
Vested and exercisable and expected to vest, December 31, 2025   237   $8.59    5.6 

 

The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the use of a number of complex assumptions including expected volatility, expected term, risk-free interest rate, and expected dividends of the option.

 

The expected volatility assumption used in the Black-Scholes option pricing model are based on estimates derived from both historical and implied volatility from a group of comparable public companies operating in the same or similar lines of business as the Company.

 

The expected term of employee options represents the weighted-average period the options are expected to remain outstanding and was derived using the simplified method for awards that qualify as “plain-vanilla” options. All awards that are outstanding are qualified as “plain-vanilla” options.

 

The risk-free rate is based on the United States Treasury yield curve in effect at the time of grant for periods corresponding with the expected term of the option.

 

The dividend yield is set to zero as the Company has never paid cash dividends and has no present intention to pay cash dividends.