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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Stock-Based Compensation [Abstract]

Schedule of Fair Value of Options Granted

The following table illustrates the assumptions used in estimating the fair value of options granted during the period ended June 30, 2024.

		3/13/2024
Stock price		$	6.97
Tranche 1 hurdle price		$	7.50
Tranche 2 hurdle price		$	12.50
Tranche 3 hurdle price		$	15.00
Risk-free rate			4.28	%
Volatility			55.00	%

Schedule of Valuation of Performance-based Equity Bonus Awards

The per unit fair value and derived service period for each Tranche of Performance Based Executive Shares is included in the Valuation of Performance-based Equity Bonus Awards as of March 13, 2024, as follows:

Fair Value Summary		Tranche 1				Tranche 2				Tranche 3
Tranche per unit fair value		$	5.96			$	4.53			$	3.82
Stock price on valuation date		$	6.97			$	6.97			$	6.97
Derived service period			0.35 years				1.19 years				1.47 years

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- Definition

Tabular disclosure of share-based payment arrangement.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

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- 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

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-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
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