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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Stock-Based Compensation  
Schedule of Stock-based compensation expense

For the three months ended September 30, 

For the nine months ended September 30, 

    

2025

    

2024

    

2025

    

2024

(in thousands)

(in thousands)

Stock options

$

-

$

-

$

-

$

22

Restricted stock units

72

184

278

441

Performance share units

106

9

318

137

Deferred share units

225

10

602

47

Total

$

403

$

203

$

1,198

$

647

Summary of stock option activities

    

Stock
Options

    

Weighted
Average Exercise
Price (per share)

Outstanding as of December 31, 2023

840,612

$

2.99

Granted, Exercised, Expired, or Forfeited

-

-

Outstanding as of September 30, 2024

840,612

$

2.99

Outstanding as of December 31, 2024

840,612

$

2.99

Expired or Forfeited

(80,204)

2.45

Outstanding as of September 30, 2025

760,408

$

3.05

Vested and exercisable as of September 30, 2025

760,408

$

3.05

Schedule of RSU activity under the Incentive Plan

    

Restricted
Stock
Units

    

Fair
Value
(in thousands)

Nonvested as of December 31, 2023

847,255

$

319

Granted

832,091

Granted in lieu of bonus

637,929

Vested but not redeemed (deferred)

(134,257)

Vested and redeemed

(119,997)

Vested and forfeited for net settlement

(76,994)

Forfeited

(54,769)

Nonvested as of September 30, 2024

1,931,258

$

675

Nonvested as of December 31, 2024

1,931,258

$

444

Vested but not redeemed (deferred)

(258,618)

Vested and redeemed

(293,887)

Vested and forfeited for net settlement

(208,309)

Forfeited

(360,753)

Nonvested as of September 30, 2025

809,691

$

677

Schedule of PSU activity under the Incentive Plan

    

Performance
Share
Units

    

Liability Balance
(in thousands)

Outstanding as of December 31, 2023

880,926

$

164

Granted

682,367

Redeemed

(201,258)

Forfeited

(33,113)

Outstanding as of September 30, 2024

1,328,922

$

235

Outstanding as of December 31, 2024

1,328,922

$

148

Redeemed (1)

(283,460)

Forfeited for net settlement

(48,066)

Forfeited

(236,330)

Outstanding as of September 30, 2025

761,066

$

376

(1)In connection with the departure of Alberto Reyes, the Company’s former Chief Operating Officer, 90,311 of PSUs held by Mr. Reyes as of the date of his separation were immediately vested and paid out to Mr. Reyes in shares of the Company’s common stock in the amount equal to the value of such PSUs to which Mr. Reyes would have been entitled as if 100% of the target performance measures related to such PSUs were achieved. The PSUs were settled by issuing 42,265 shares of common stock, with 48,066 PSUs forfeited for taxes.
Schedule of DSU activity under the Incentive Plan

    

Deferred
Stock
Units

    

Liability Balance
(in thousands)

Outstanding as of December 31, 2023

586,291

$

223

Granted in lieu of board fees

183,208

Outstanding as of September 30, 2024

769,499

$

269

Outstanding as of December 31, 2024

883,384

$

203

Granted in lieu of board fees

92,427

Redeemed (1)

(23,975)

Forfeited for net settlement

(27,267)

Outstanding as of September 30, 2025

924,569

$

773

(1)In connection with the departure of Alberto Reyes, the Company’s former Chief Operating Officer, 51,242 outstanding DSUs were paid out to Mr. Reyes in shares of the Company’s common stock by issuing 23,975 common shares, with 27,267 DSUs forfeited for taxes.