XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.3
Share-Based Compensation Plans
9 Months Ended
Sep. 30, 2025
Share-Based Compensation Plans  
Share-Based Compensation Plans

10.  Share-Based Compensation Plans

During the three and nine months ended September 30, 2025, we recognized $444,000 and $1,246,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2020 through 2025. During the three and nine months ended September 30, 2024, we recognized $388,000 and $1,086,000, respectively, of compensation expense associated with stock option and restricted stock awards granted in years 2019 through 2024.

The following table summarizes our stock option activity for the nine-month period ended September 30, 2025:

Weighted

Weighted

Average

Aggregate

Average

Remaining

Intrinsic

Exercise

Contractual

Value*

Stock Options

    

Shares

    

Price

    

Term (In Years)

    

(In Thousands)

Outstanding at January 1, 2025

 

563,760

$

25.98

 

  

 

  

Granted

 

 

  

 

  

Exercised

 

(9,730)

24.06

 

  

 

  

Forfeited or expired

 

(4,030)

26.30

 

  

 

  

Outstanding at September 30, 2025

 

550,000

$

26.01

 

5.7

$

2,681

Exercisable at September 30, 2025

 

388,959

$

25.86

 

5.1

$

2,087

*The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of our Company’s common stock on September 30, 2025 of $30.09 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options.

The following table summarizes our restricted stock award activity for the nine-month period ended September 30, 2025:

Weighted 

Weighted

Average

Aggregate

Shares of

 Average

Remaining

Intrinsic

Restricted

Grant Date

Contractual

Value*

Restricted Stock

Stock

Fair Value

Term (In Years)

(In Thousands)

Non-vested January 1, 2025

 

92,965

$

31.12

Issued

 

65,350

 

30.04

 

 

Vested

 

(34,881)

 

29.27

 

 

Forfeited

 

(1,460)

 

32.86

 

 

Non-vested - September 30, 2025

 

121,974

$

31.06

4.1

$

3,670

*The aggregate intrinsic value of non-vested restricted stock was calculated using the market value of our Company’s common stock on September 30, 2025 of $30.09 multiplied by the number of non-vested restricted shares outstanding.