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Stock Options and Restricted Stock (Tables)

3 Months Ended

Mar. 31, 2024

Stock Options and Restricted Stock

Summary of the status of the Company's outstanding stock options

The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. The following table presents a summary of the status of the Company’s outstanding stock options for the three months ended March 31, 2024:

​

​	​	​	​	​	​
​	​	March 31, 2024
​				Weighted
​	​	​	​	Average
​	​	Shares	​	Exercise Price
Outstanding at Beginning of Year		2,014,994	​	$	10.57
Granted		—	​		—
Exercised		(8,000)	​		8.28
Forfeitures		(5,000)	​		11.10
Outstanding at Period End		2,001,994	​	$	10.58
​	​	​	​	​	​
Options Exercisable at Period End		1,421,494	​	$	9.80

Summary of information pertaining to options outstanding based on range of exercise price

The following table presents information pertaining to options outstanding at March 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

10,000

​

$

3.58

​

0.8

10,000

$

3.58

​

7.00 - 7.99

888,966

​

7.47

3.5

888,966

​

7.47

​

8.00 - 8.99

12,500

​

8.76

6.0

6,250

​

8.76

​

10.00 - 10.99

​

249,000

​

​

10.63

​

9.2

​

7,500

​

​

10.08

​

11.00 - 11.99

​

262,500

​

​

11.15

​

8.2

​

75,000

​

​

11.29

​

12.00 - 12.99

​

263,528

​

​

12.90

​

5.3

​

263,528

​

​

12.90

​

13.00 - 13.99

​

25,000

​

​

13.22

​

4.1

​

25,000

​

​

13.22

​

17.00 - 17.99

​

290,500

​

​

17.50

​

7.8

​

145,250

​

​

17.50

​

Totals

2,001,994

​

$

10.58

​

5.7

1,421,494

​

$

9.80

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 three months ended March 31, 2024:

​

​	​	​	​	​	​
​				Weighted
​	​	Number of	​	Average Grant
​	​	Shares	​	Date Fair Value
Nonvested Options at December 31, 2023		666,250	​	$	5.09
Granted		—	​	​	—
Vested		(80,750)	​	​	5.05
Forfeited	​	(5,000)	​	​	4.58
Nonvested Options at March 31, 2024		580,500	​	$	5.10

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 three months ended March 31, 2024:

​	​	​	​	​	​
​				Weighted
​	​	Number of	​	Average Grant
​	​	Shares	​	Date Fair Value
Nonvested at December 31, 2023		3,411	​	$	10.53
Granted		—	​	​	—
Vested		(987)	​	​	12.67
Forfeited	​	—	​	​	—
Nonvested at March 31, 2024		2,424	​	$	9.66

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 three months ended March 31, 2024:

​	​	​	​	​	​
​				Weighted
​	​	Number of	​	Average Grant
​	​	Units	​	Date Fair Value
Nonvested at December 31, 2023		441,015	​	$	14.71
Granted		63,184	​	​	11.89
Vested		(22,365)	​	​	15.60
Forfeited	​	(10,276)	​	​	14.75
Nonvested at March 31, 2024		471,558	​	$	14.29

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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