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Stock Options Restricted Stock (Tables)

9 Months Ended

Sep. 30, 2025

Stock Options and Restricted Stock

Summary of weighted average assumptions used in the model for valuing stock option grants

The weighted average assumptions used in the model for valuing stock options grants for the nine months ended September 30, 2025 are as follows:

​

​	​	​	​
​	​	September 30,	​
​		2025
Dividend Yield		—	%
Expected Life		7	Years
Expected Volatility		30.83	%
Risk-Free Interest Rate		4.42	%

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, 2025:

​

​	​	​	​	​	​
​	​	September 30, 2025
​				Weighted
​	​	​	​	Average
​	​	Shares	​	Exercise Price
Outstanding at Beginning of Year		1,860,609	​	$	10.69
Granted		275,000	​		13.77
Exercised		(148,738)	​		8.39
Forfeitures		(16,500)	​		12.94
Outstanding at Period End		1,970,371	​	$	11.28
​	​	​	​	​	​
Options Exercisable at Period End		1,396,745	​	$	10.52

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, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

$

7.00 - 7.99

714,438

$

7.47

2.0

714,438

$

7.47

​

8.00 - 8.99

2,961

​

8.76

4.5

2,961

​

8.76

​

10.00 - 10.99

​

204,250

​

​

10.62

​

7.7

​

96,499

​

​

10.59

​

11.00 - 11.99

​

229,125

​

​

11.16

​

6.5

​

117,000

​

​

11.22

​

12.00 - 12.99

​

249,097

​

​

12.91

​

3.8

​

249,097

​

​

12.91

​

13.00 - 13.99

​

285,000

​

​

13.75

​

9.3

​

2,500

​

​

12.91

​

17.00 - 17.99

​

285,500

​

​

17.50

​

6.3

​

214,250

​

​

17.50

​

Totals

1,970,371

​

$

11.28

​

5.0

1,396,745

​

$

10.52

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, 2025:

​

​	​	​	​	​	​
​				Weighted
​	​	Number of	​	Average Grant
​	​	Shares	​	Date Fair Value
Nonvested Options at December 31, 2024		437,501	​	$	5.18
Granted		275,000	​	​	5.83
Vested		(129,000)	​	​	5.33
Forfeited	​	(9,875)	​	​	4.85
Nonvested Options at September 30, 2025		573,626	​	$	5.46

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, 2025:

​	​	​	​	​	​
​				Weighted
​	​	Number of	​	Average Grant
​	​	Units	​	Date Fair Value
Nonvested at December 31, 2024		415,758	​	$	14.46
Granted		55,355	​	​	13.78
Vested		(38,962)	​	​	14.12
Forfeited	​	(8,398)	​	​	14.39
Nonvested at September 30, 2025		423,753	​	$	14.40

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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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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.

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