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Stock Options and Restricted Stock (Tables) | 9 Months Ended
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Sep. 30, 2023
Stock Options and Restricted Stock |
Summary of valuation assumptions used to determine the fair value of option award | The weighted average assumptions used in the model of valuing stock option grants for the nine months ended September 30, 2023, are as follows: ​
​ | ​ | ​ | ​
​ | ​ | September 30, | ​
​ |  | 2023 |
Dividend Yield |  | — | %
Expected Life |  | 7 | Years
Expected Volatility |  | 42.25 | %
Risk-Free Interest Rate |  | 4.15 | %
Summary of the status of the Company's outstanding stock options | The following table presents a summary of the status of the Company’s outstanding stock options for the nine months ended September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ |  |  |  | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | Shares | ​ | Exercise Price
Outstanding at Beginning of Year |  | 1,913,444 | ​ | $ | 9.35
Granted |  | 239,000 | ​ |  | 10.65
Exercised |  | (226,000) | ​ |  | 3.17
Forfeitures |  | (9,000) | ​ |  | 13.04
Outstanding at Period End |  | 1,917,444 | ​ | $ | 10.22
​ | ​ | ​ | ​ | ​ | ​
Options Exercisable at Period End |  | 1,378,194 | ​ | $ | 8.88
Summary of information pertaining to options outstanding based on range of exercise price | The following table presents information pertaining to options outstanding at September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Options Outstanding | ​ | Options Exercisable
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | ​
​ | ​ | ​ | Number of | ​ | Weighted Average | ​ | Remaining Contractual | ​ | Number of | ​ | Weighted Average
Range of Exercise Prices |  | Options |  | Exercise Price | ​ | Life in Years | ​ | Options |  | Exercise Price
$ | 3.00 - 3.99 |  | 88,500 | ​ | $ | 3.07 | ​ | 0.4 |  | 88,500 |  | $ | 3.07
​ | 7.00 - 7.99 |  | 893,416 |  | ​ | 7.47 |  | 4.0 |  | 893,416 |  | ​ | 7.47
​ | 8.00 - 8.99 |  | 17,500 |  | ​ | 8.76 |  | 6.5 |  | 11,250 |  | ​ | 8.76
​ | 10.00 - 10.99 | ​ | 249,000 | ​ | ​ | 10.63 | ​ | 9.7 | ​ | 7,500 | ​ | ​ | 10.08
​ | 11.00 - 11.99 | ​ | 85,000 | ​ | ​ | 11.27 | ​ | 5.6 | ​ | 68,000 | ​ | ​ | 11.27
​ | 12.00 - 12.99 | ​ | 263,528 | ​ | ​ | 12.90 | ​ | 5.9 | ​ | 206,778 | ​ | ​ | 12.90
​ | 13.00 - 13.99 | ​ | 25,000 | ​ | ​ | 13.22 | ​ | 4.6 | ​ | 25,000 | ​ | ​ | 13.22
​ | 17.00 - 17.99 | ​ | 295,500 | ​ | ​ | 17.50 | ​ | 8.3 | ​ | 77,750 | ​ | ​ | 17.50
​ | Totals |  | 1,917,444 | ​ | $ | 10.22 | ​ | 5.6 |  | 1,378,194 | ​ | $ | 8.88
Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding | The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the nine months ended September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant
​ | ​ | Shares | ​ | Date Fair Value
Nonvested Options at December 31, 2022 |  | 421,375 | ​ | $ | 4.87
Granted |  | 239,000 | ​ | ​ | 5.39
Vested |  | (116,125) | ​ | ​ | 4.78
Forfeited | ​ | (5,000) | ​ | ​ | 5.74
Nonvested Options at September 30, 2023 |  | 539,250 | ​ | $ | 5.11
Summary of the status of the Company's outstanding restricted stock awards | The following table presents an analysis of nonvested restricted stock awards outstanding for the nine months ended September 30, 2023:
​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant
​ | ​ | Shares | ​ | Date Fair Value
Nonvested Awards at December 31, 2022 |  | 38,762 | ​ | $ | 12.50
Granted |  | — | ​ | ​ | —
Vested |  | (2,785) | ​ | ​ | 10.32
Forfeited | ​ | (250) | ​ | ​ | 12.92
Nonvested Awards at September 30, 2023 |  | 35,727 | ​ | $ | 12.67
Summary of the status of the Company's outstanding restricted stock units | The following table presents an analysis of nonvested restricted stock units outstanding for the nine months ended September 30, 2023:
​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant
​ | ​ | Units | ​ | Date Fair Value
Nonvested Units at December 31, 2022 |  | 351,310 | ​ | $ | 16.30
Granted |  | 82,969 | ​ | ​ | 15.59
Vested |  | (5,225) | ​ | ​ | 16.20
Forfeited | ​ | (10,253) | ​ | ​ | 17.79
Nonvested Units at September 30, 2023 |  | 418,801 | ​ | $ | 16.13

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