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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Time Based Restricted Stock Grant Activity

A summary of the Company’s performance-based restricted stock grant activity is as follows:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Time-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2023

 

 

33,100

 

 

$

4.84

 

Granted

 

 

91,052

 

 

$

4.32

 

Vested

 

 

(21,480

)

 

$

4.50

 

Forfeited

 

 

(1,530

)

 

$

5.22

 

Unvested at June 30, 2024

 

 

101,142

 

 

$

4.44

 
Summary of Performance Based Grant Activity

A summary of the Company’s time-based restricted stock grant activity is as follows:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Performance-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2023

 

 

40,024

 

 

$

5.14

 

Granted

 

 

23,726

 

 

$

4.32

 

Vested

 

 

(8,147

)

 

$

5.07

 

Unvested at June 30, 2024

 

 

55,603

 

 

$

4.80