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Equity Incentive Plan (Tables)
6 Months Ended
Jun. 30, 2025
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 six months ended June 30, 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2025

 

 

June 30, 2025

 

 

 

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

 

 

96,692

 

 

$

19.69

 

 

 

90,331

 

 

$

19.14

 

Granted

 

 

 

 

 

 

 

 

39,587

 

 

 

21.46

 

Vested

 

 

 

 

 

 

 

 

(33,226

)

 

 

20.31

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Nonvested at end of period

 

 

96,692

 

 

$

19.69

 

 

 

96,692

 

 

$

19.69

 

 

The following is a summary of the status of the Company’s outstanding restricted common shares as of June 30, 2025:

 

At June 30, 2025

 

Date of Award

 

Shares

 

 

Remaining Expense

 

 

Remaining Vesting
Period (Years)

 

March 3, 2021

 

 

2,488

 

 

 

24

 

 

 

0.50

 

March 3, 2022

 

 

4,598

 

 

 

84

 

 

 

1.50

 

March 14, 2023

 

 

9,761

 

 

 

181

 

 

 

2.50

 

March 14, 2023

 

 

8,817

 

 

 

94

 

 

 

0.50

 

March 12, 2024

 

 

20,969

 

 

 

286

 

 

 

3.50

 

March 12, 2024

 

 

9,185

 

 

 

105

 

 

 

1.50

 

September 9, 2024

 

 

1,287

 

 

 

15

 

 

 

2.25

 

March 11, 2025

 

 

21,487

 

 

 

424

 

 

 

4.75

 

March 11, 2025

 

 

18,100

 

 

 

336

 

 

 

2.75

 

 

 

 

96,692

 

 

 

1,549

 

 

 

2.88