XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.25.2

Employee Benefit Plans | 6 Months Ended
--- | ---
Jun. 30, 2025
Employee Benefit Plans [Abstract] |
Employee Benefit Plans | 20. Employee Benefit Plans The Company sponsors a defined-contribution retirement plan under Section 401(k) of the Internal Revenue Code that covers substantially all employees (“401(k) plan”). Participant contributions to the 401(k) plan are voluntary and are subject to certain limitations. The Company may also make discretionary contributions to the plan. For 401(k) employee contribution matching, the Company incurred expense of $32,000 and $28,000 for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, the Company incurred an expense of $184,000 and $163,000, respectively. On September 17, 2021, the Company’s shareholders approved the Siebert Financial Corp. 2021 Equity Incentive Plan (the “Plan”). The Plan provides for the grant of stock options, restricted stock, and other equity awards of the Company’s common stock to employees, officers, consultants, directors, affiliates and other service providers of the Company. There were 3 million shares reserved under the Plan and 990,000 and 2,214,000 and shares remained as of June 30, 2025 and December 31, 2024, respectively. The table below presents the Plan awards granted and the related fair values for the six months ended June 30, 2025.
|  | Shares |  |  | Weighted- Average Grant Date Fair Value |
Nonvested as of December 31, 2024 |  |  | 150,000 |  |  | $ | 1.65 |
Forfeited |  |  | (50,000 | ) |  |  | 1.65 |
Granted |  |  | 1,112,000 |  |  |  | 2.77 |
Vested |  |  | (237,000 | ) |  |  | 2.27 |
Nonvested as of March 30, 2025 |  |  | 975,000 |  |  | $ | 2.78 |
Granted |  |  | 162,000 |  |  |  | 2.91 |
Vested |  |  | (62,000 | ) |  |  | 3.44 |
Nonvested as of June 30, 2025 |  |  | 1,075,000 |  |  | $ | 2.76 |
As of June 30, 2025, there was $2,607,000 of total unrecognized compensation cost related to nonvested shares granted. The cost is expected to be recognized over a weighted average period of 2.61 years. The Company recognized stock-based compensation expense of $435,000 and $300,000 for the three months ended June 30, 2025 and 2024, respectively. $435,000 and $99,000 of this expense is included in the line item “Employee compensation and benefits” for the three months ended June 30, 2025 and 2024, respectively. The Company did not capitalize any stock-based compensation expense for the three months ended June 30, 2025. $0 and $178,000 of this expense is fully capitalized within the line item “Software, net” in the consolidated statements of financial condition for the six months ended June 30, 2024. The Company recognized stock-based compensation expense of $989,000 and $385,000 for the six months ended June 30, 2025 and 2024, respectively. $989,000 and $184,000 of this expense is included in the line item “Employee compensation and benefits” for the six months ended June 30, 2025 and 2024, respectively. The Company did not capitalize any stock-based compensation expense for the six months ended June 30, 2025. $0 and $201,000 of this expense is fully capitalized within the line item “Software, net” in the consolidated statements of financial condition for the six months ended June 30, 2024.

X
- References No definition available. + Details
Name: | us-gaap_EmployeeBenefitsAndShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (o) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (p) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480266/715-60-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 70 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration