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Equity Incentive Plan (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Company's Outstanding Restricted Common Stock

The following is a summary of the Company’s outstanding restricted common shares and changes therein for the three and nine months ended September 30, 2024:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2024

 

 

September 30, 2024

 

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Nonvested at beginning of period

 

 

91,419

 

 

$

19.21

 

 

 

85,670

 

 

$

21.88

 

Granted

 

 

 

 

 

 

 

 

51,578

 

 

 

15.03

 

Vested

 

 

(15,756

)

 

 

19.60

 

 

 

(60,067

)

 

 

19.81

 

Forfeited

 

 

 

 

 

 

 

 

(1,518

)

 

 

21.41

 

Nonvested at end of period

 

 

75,663

 

 

$

19.13

 

 

 

75,663

 

 

$

19.13

 

 

The following is a summary of the status of the Company’s outstanding restricted common shares as of September 30, 2024:

 

At September 30, 2024

 

Date of Award

 

Shares

 

 

Remaining Expense

 

 

Remaining Vesting
Period (Years)

 

March 14, 2020

 

 

1,933

 

 

 

9

 

 

 

0.25

 

March 3, 2021

 

 

4,693

 

 

 

51

 

 

 

1.25

 

March 3, 2022

 

 

6,586

 

 

 

112

 

 

 

2.25

 

March 3, 2022

 

 

3,481

 

 

 

21

 

 

 

0.25

 

March 14, 2023

 

 

12,702

 

 

 

206

 

 

 

3.25

 

March 14, 2023

 

 

11,757

 

 

 

161

 

 

 

1.25

 

March 12, 2024

 

 

25,223

 

 

 

311

 

 

 

4.25

 

March 12, 2024

 

 

9,288

 

 

 

111

 

 

 

2.25

 

 

 

75,663

 

 

$

982

 

 

 

2.72