Stock-based Payments and Director Fees (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule Of Management Fees And Director Fees

The following table sets forth the Company’s stock-based independent director fees ($ in thousands):

Stock-based Director Fees


	For the three months ended September 30,
	2024			2023
	Number of shares	Amount of expense recognized		Number of shares	Amount of expense recognized
Independent director fees	2,000	$	—	—	$	—
Totals	2,000	$	—	—	$	—


	For the nine months ended September 30,
	2024			2023
	Number of shares	Amount of expense recognized		Number of shares	Amount of expense recognized
Independent director fees	2,000	$	—	13,020	$	88
Totals	2,000	$	—	13,020	$	88

Schedule Of Grants Of Restricted Stock

Under the Company’s 2014 Director Equity Plan and 2016 Equity Incentive Plan, the Company made grants of restricted stock to its Directors and to employees of the Former Manager and the Former Servicer as set forth in the table below:


	Employee and Service Provider Grants				Director Grants
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Nine months ended September 30, 2023
January 1, 2023 outstanding unvested share grants	310,262		$	10.98	—		$	—
Shares vested	(30,515)		11.56		—		—
Shares forfeited	(5,668)		10.30		—		—
Shares granted	3,000		7.34		25,000		7.15
March 31, 2023 outstanding unvested share grants	277,079		$	10.88	25,000		$	7.15
Shares vested	(9,475)		11.25		—		—
Shares forfeited	(7,084)		11.16		—		—
Shares granted	22,459		6.50		—		—
June 30, 2023 outstanding unvested share grants	282,979	(1)	$	10.52	25,000	(2)	$	7.15
Shares vested	(104,503)		10.81		—		—
Shares forfeited	(4,251)		10.60		—		—
Shares granted	3,103		6.95		—		—
September 30, 2023 outstanding unvested share grants	177,328		$	10.28	25,000		$	7.15

(1)Weighted average remaining life of unvested shares for employee and service provider grants at September 30, 2023 is 1.8 years.

(2)Weighted average remaining life of unvested shares for director grants at September 30, 2023 is 1.4 years.


	Employee and Service Provider Grants			Director Grants
	Shares	Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Nine months ended September 30, 2024
January 1, 2024 outstanding unvested share grants	159,142	$	10.33	25,000		$	7.15
Shares vested	(3,250)	10.74		—		—
Shares forfeited	(2,167)	7.89		—		—
Shares granted	66,421	3.59		—		—
March 31, 2024 outstanding unvested share grants	220,146	$	8.29	25,000		$	7.15
Shares vested	(210,093)	9.40		(12,500)		7.15
Shares forfeited	(10,053)	8.79		(7,500)		7.15
Shares granted	—	—		—		—
June 30, 2024 outstanding unvested share grants	—	$	—	5,000	(1)	$	7.15
Shares vested	—	—		—		—
Shares forfeited	—	—		—		—
Shares granted	—	—		2,000		3.56
September 30, 2024 outstanding unvested share grants	—	$	—	7,000		$	6.12

(1)Weighted average remaining life of unvested shares for employee and service provider grants at September 30, 2024 is 0.7 years.

Schedule Of Restricted Stock Plan Grants, Expense

The following table presents the expenses for the Company’s equity incentive plans ($ in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Restricted stock grants	$	—	$	353	$	1,409	$	1,154
Director grants	13		22		51		112
Total expenses for plan grants	$	13	$	375	$	1,460	$	1,266