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Stock-Based Compensation and Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2025
Stock-Based Compensation and Employee Benefit Plans [Abstract] |
Stock-Based Compensation and Employee Benefit Plans | Note 12 — Stock-Based Compensation and Employee Benefit Plans 2022 Omnibus Equity Incentive Plan On April 29, 2022, the Company’s Board of Directors, and on June 8, 2022, the Company’s stockholders, adopted and approved the 2022 Omnibus Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation right awards, performance share awards, restricted stock awards, restricted stock unit awards, other stock-based awards and cash-based awards. The aggregate number of shares of Common Stock that may be reserved and available for grant and issuance under the 2022 Plan is 1,765 shares and 16,667 additional shares issued upon approval by the Board of Directors on January 8, 2024. On August 12, 2024, the Company’s stockholders approved an amendment to the 2022 Plan to increase the number of shares issuable thereunder by 166,667. Shares will be deemed to have been issued under the 2022 Plan solely to the extent actually issued and delivered pursuant to an award. The 2022 Plan shall continue in effect, unless sooner terminated, until the tenth anniversary of the date on which it was adopted by the Board of Directors. On June 11, 2025, the Company’s stockholders approved an amendment to the 2022 Plan to increase the number of shares issuable thereunder by 250,000 shares. As of September 30, 2025, there were 229,815 shares of Common Stock available to be granted under the Company’s 2022 Plan. The Company’s stock compensation expense from continuing operations was $507 thousand and $127 thousand for the three months ended September 30, 2025 and 2024, respectively. The Company’s stock compensation expense from continuing operations was $1.6 million and $638 thousand for the nine months ended September 30, 2025 and 2024, respectively. The Company’s stock compensation expense from discontinued operations was $0 and $156 thousand for the three months ended September 30, 2025 and 2024, respectively. The Company’s stock compensation expense from discontinued operations was a forfeiture of $20 thousand and an expense of $216 thousand for the nine months ended September 30, 2025 and 2024, respectively. Stock Options For nine months ended September 30, 2025, there were no options granted or exercised under the Company’s stock option plans. For the same period, there were 141 options expired with a weighted average exercise price of $11 thousand. There were 75 and 216 options outstanding with a weighted average exercise price of $27 thousand and $19 thousand as of September 30, 2025 and December 31, 2024, respectively. There were 75 options vested and exercisable with a weighted average exercise price of $27 thousand as of September 30, 2025. There were no unvested options as of September 30, 2025. As of September 30, 2025, there was no unrecognized compensation expense related to unvested options. The following table summarizes information about options vested and exercisable at September 30, 2025:
Options Vested and Exercisable
Number of Options |  | Weighted- Average Remaining Contractual Life (Years) |  |  | Weighted-Average Exercise Price |
38 |  |  | 5.39 |  |  | $ | 40,234 |
34 |  |  | 5.10 |  |  | $ | 14,208 |
3 |  |  | 4.82 |  |  | $ | 4,104 |
Restricted Stock Units Under the 2022 Plan, the Company may grant restricted stock units to employees, directors, officers and consultants. The restricted stock units granted generally vest equally over periods ranging from one to three years, subject to certain exceptions for directors. The fair value of restricted stock units is determined based on the closing market price of the Company’s Common Stock on the date of grant. Compensation expense related to the restricted stock units is recognized using a straight-line attribution method over the vesting period. The following table presents restricted stock unit activity for the nine months ended September 30, 2025:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Unvested at December 31, 2024 |  |  | 102,867 |  |  | $ | 17.42 |
Granted |  |  | 34,500 |  |  |  | 28.53 |
Vested |  |  | (41,258 | ) |  |  | 16.45 |
Forfeited |  |  | (14,109 | ) |  |  | 4.57 |
Unvested at September 30, 2025 |  |  | 82,000 |  |  | $ | 24.88 |
As of September 30, 2025, total unrecognized compensation expense related to unvested restricted stock units was $760 thousand, which is expected to be recognized over a weighted average period of 0.37 years.

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