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Stock Based Compensation
6 Months Ended
Jun. 30, 2025
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Based Compensation

NOTE 11. STOCK BASED COMPENSATION

Stock Incentive Plans

As of June 30, 2025, the number of securities remaining available for future issuance under the Company's 2023 Omnibus Incentive Plan is 76,000.

For the three and six months ended June 30, 2025 and 2024, the Company recognized stock-based compensation expense as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(Amounts in 000’s)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Employee compensation:

 

 

 

 

 

 

 

 

 

 

 

 

Stock compensation expense

 

$

25

 

 

$

23

 

 

$

47

 

 

$

66

 

Total employee stock-based compensation expense

 

$

25

 

 

$

23

 

 

$

47

 

 

$

66

 

 

Restricted Stock

The following table summarizes the Company's restricted stock activity for the six months ended June 30, 2025:

 

 

Number of
Shares (000's)

 

 

Weighted Avg.
Grant Date
(per Share)
Fair Value

 

Unvested, December 31, 2024

 

 

86

 

 

$

2.61

 

Granted

 

 

65

 

 

$

2.60

 

Vested

 

 

(33

)

 

$

2.74

 

Unvested, June 30, 2025

 

 

118

 

 

$

2.57

 

There were 65,000 restricted stock awards granted during the six months ended June 30, 2025, which will vest in two equal annual installments on June 20, 2026 and June 20, 2027. The unvested shares at June 30, 2025 will vest over the next 1.8 years with $278 thousand in compensation expense recognized over this period.

Common Stock Options

The following summarizes the Company's employee and non-employee stock option activity for the six months ended June 30, 2025:

 

 

Number of
Shares (000's)

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value (000's)

 

Outstanding, December 31, 2024

 

 

48

 

 

$

2.68

 

 

 

8.5

 

 

$

 

Exercised

 

 

(48

)

 

$

2.68

 

 

 

 

 

 

 

Outstanding, June 30, 2025

 

 

 

 

$

 

 

 

 

 

$

 

No stock options were granted for the six months ended June 30, 2025. All vested stock options were exercised during the six months ended June 30, 2025; thus, there are no outstanding stock options as of June 30, 2025.

Common Stock Warrants

The following summarizes the Company's warrant activity for the six months ended June 30, 2025:

 

 

Outstanding and Exercisable

 

 

 

 

 

 

Number of
Shares (000's)

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(in 000's)

 

Outstanding, December 31, 2024

 

 

15

 

 

$

51.00

 

 

 

0.2

 

 

$

 

Expired

 

 

(15

)

 

$

51.00

 

 

 

 

 

 

 

Outstanding, June 30, 2025

 

 

 

 

$

 

 

 

 

 

$

 

 

No warrants were granted during the six months ended June 30, 2025. All vested warrants expired during the six months ended June 30, 2025; thus, there are no outstanding common stock warrants as of June 30, 2025.