XML 53 R42.htm IDEA: XBRL DOCUMENT v3.24.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Nonvested Restricted Shares

A summary of the Company’s nonvested restricted shares as of December 31, 2023 and 2022, and changes during the years then ended is presented below:

						December 31,
		2023								2022
						Weighted-								Weighted-
						Average								Average
						Grant Date								Grant Date
						Fair Value								Fair Value
		Shares				(per share)				Shares				(per share)
Nonvested at the beginning of the year			689,862			$	3.20				491,239			$	3.50
Granted			453,258				3.06				386,908				3.93
Vested			(285,537	)			2.24				(113,886	)			6.16
Forfeited			-				-				(74,399	)			4.44
Nonvested at the end of the year			857,583			$	3.44				689,862			$	3.20
Expected to vest			857,583			$	3.44				689,862			$	3.20

Time-Vested Stock Options [Member]

Schedule of Valuation Assumptions, Options

Grant date fair values of time-vested stock option awards were estimated using the Black-Scholes option valuation model with the following assumptions:

								Expected		Risk Free		Grant Date
						Expected		Dividend		Interest		Fair Value
Grant Year		Grant Date		Expected Life		Volatility		Yield		Rate		Per Award
2023		1/6/2023		6 years		78.16%		0.00%		3.66%		$	2.24
2023		2/17/2023		6 years		78.08%		0.00%		3.99%		$	2.75
2023		2/28/2023		6 years		78.08%		0.00%		4.13%		$	2.58
2023		5/1/2023		6 years		78.08%		0.00%		3.63%		$	2.00
2023		5/8/2023		6 years		78.08%		0.00%		3.50%		$	1.99
2023		6/12/2023		6 years		77.74%		0.00%		3.86%		$	1.91
2023		8/14/2023		6 years		77.87%		0.00%		4.33%		$	2.07
2023		9/11/2023		6 years		77.82%		0.00%		4.38%		$	1.94
2023		9/29/2023		6 years		77.79%		0.00%		4.60%		$	1.88
2023		12/11/2023		6 years		77.68%		0.00%		4.25%		$	1.59

Schedule of Option Activity

A summary of the Company’s time-vested stock options activity and related information at December 31, 2023 and 2022, and changes during the years then ended, is presented below:

						December 31,
		2023								2022
						Weighted-								Weighted-
						Average								Average
						Exercise								Exercise
		Options				Price				Options				Price
		Outstanding				(per share)				Outstanding				(per share)
Outstanding at the beginning of the year			888,814			$	5.12				733,967			$	5.66
Granted			503,417				3.20				513,518				3.95
Exercised			-				-				(102,850	)			3.98
Forfeited or expired			(71,850	)			6.27				(255,821	)			4.76
Outstanding at the end of the year			1,320,381			$	4.33				888,814			$	5.12
Exercisable at the end of the year			448,880			$	5.88				227,056			$	8.39

Schedule of Shares Outstanding

A summary of the Company’s time vested stock options outstanding as of December 31, 2023 is presented below:

						Weighted-
						Average				Weighted-
						Remaining				Average
						Contractual				Exercise				Aggregate
		Options				Term				Price				Intrinsic
		Outstanding				(in years)				(per share)				Value
Options outstanding			1,320,381				8.0			$	4.33			$	4
Vested or expected to vest			1,320,381				8.0			$	4.33			$	-
Options exercisable			448,880				6.8			$	5.88			$	4

Stock Appreciation Rights (SARs) [Member]

Schedule of Shares Outstanding

A summary of the Company’s cash settled stock appreciation rights outstanding as of December 31, 2023 is presented below:

						Weighted-
						Average				Weighted-
						Remaining				Average
						Contractual				Exercise				Aggregate
		SARS				Term				Price				Intrinsic
		Outstanding				(in years)				(per share)				Value
SARS outstanding			2,068,705				6.8			$	2.20			$	1,028,545
Vested or expected to vest			2,068,705				6.8			$	2.20			$	1,028,545
SARS exercisable			1,564,300				6.7			$	2.15			$	867,136

Schedule of Valuation Assumptions

The estimated fair value of the cash settled stock appreciation rights immediately preceding the modification was $1,738, estimated using the Black-Scholes option valuation model with the following assumptions:

								Expected		Risk Free
						Expected		Dividend		Interest		Fair Value
Grant Year		Grant Date		Expected Life		Volatility		Yield		Rate		Per Award
2020		1/24/2020		3.4 years		94.06%		0.00%		3.66%		$	2.00
2020		11/30/2020		4.1 years		89.29%		0.00%		3.54%		$	1.85
2021		1/5/2021		4.2 years		88.36%		0.00%		3.52%		$	1.89

Schedule of SAR Activity

A summary of the Company’s cash settled stock appreciation rights activity and related information at December 31, 2023 and 2022 and changes during the year is presented below:

						December 31,
		2023								2022
						Weighted-								Weighted-
						Average								Average
						Exercise								Exercise
		SARS				Price				SARS				Price
		Outstanding				(per share)				Outstanding				(per share)
Outstanding at the beginning of the year			2,132,113			$	2.20				2,163,339			$	2.20
Granted			-				-				-				-
Exercised			(35,522	)			2.24				(11,592	)			2.16
Forfeited or expired			(27,886	)			2.20				(19,634	)			2.31
Outstanding at the end of the year			2,068,705			$	2.20				2,132,113			$	2.20
Exercisable at the end of the year			1,564,300			$	2.15				909,313			$	2.10

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_AwardTypeAxis=rail_TimeVestedStockOptionsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: