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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Time Based Restricted Stock Grant Activity

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

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Time-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2022

 

 

45,243

 

 

$

4.66

 

Granted

 

 

19,238

 

 

$

5.01

 

Vested

 

 

(26,362

)

 

$

4.62

 

Forfeited

 

 

(5,019

)

 

$

5.02

 

Unvested at December 31, 2023

 

 

33,100

 

 

$

4.84

 

Granted

 

 

96,398

 

 

$

4.37

 

Vested

 

 

(46,237

)

 

$

4.58

 

Forfeited

 

 

(4,591

)

 

$

4.95

 

Unvested at December 31, 2024

 

 

78,670

 

 

$

4.41

 

Summary of Performance Based Grant Activity

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

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Performance-based Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2022

 

 

25,891

 

 

$

5.07

 

Granted

 

 

30,217

 

 

$

5.11

 

Vested

 

 

(16,084

)

 

$

4.96

 

Unvested at December 31, 2023

 

 

40,024

 

 

$

5.14

 

Granted

 

 

47,452

 

 

$

4.32

 

Vested

 

 

(25,066

)

 

$

4.81

 

Unvested at December 31, 2024

 

 

62,410

 

 

$

4.65