Note 10 - Stock-based Compensation

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

10. STOCK-BASED COMPENSATION

Stock Incentive Plan

The Company has outstanding stock-based awards under its 2016 Omnibus Incentive Plan ("2016 Plan") and 2022 Omnibus Incentive Plan ("2022 Plan") (collectively, the "2016 Plan" and "2022 Plan", referred to as the "Plans"). The 2022 Plan authorizes the grant of options, restricted share units ("RSUs"), or other forms of stock-based compensation to employees, officers, directors, and others, and such grants must be approved by the Compensation Committee of the Board of Directors. The 2022 Plan allows the Compensation Committee of the Board of Directors to determine the vesting period and parameters of each grant. The vesting period of the options and RSUs granted has historically included annual vesting over a period of up to five years, generally beginning one year after the grant date. As of December 31, 2024, 986,412 shares of common stock were available to be granted under the 2022 Plan.

Stock Option Activity

A summary of activity relative to stock options for the year ended December 31, 2024 is as follows (in thousands, except weighted-average exercise price).

			Weighted-
	Common		Average		Aggregate
	Shares		Exercise Price		Intrinsic Value
Outstanding at beginning of period		90	$	20.34
Granted		—		—
Exercised		—		—
Expired		—		—
Forfeited		—		—
Outstanding at end of period		90	$	20.34	$	1,031
Exercisable at end of period		90	$	20.34	$	1,031

The weighted average remaining contractual term of options outstanding at  December 31, 2024 was 6 years.

Restricted Share Unit Activity

A summary of activity relative to RSUs for the year ended  December 31, 2024 is as follows (in thousands, except weighted-average grant date fair value):

				Weighted-
	Number of			Average Grant Date		Aggregate
	RSU’s			Fair Value		Intrinsic Value
Outstanding at beginning of period		619		$	23.12
Granted		148			28.54
Vested		(175	)		22.95
Forfeited		(21	)		23.83
Outstanding at end of period		571		$	24.54	$	15,424

The aggregate fair value of RSUs that vested during the year ended December 31, 2024 and 2023, as of the respective vesting dates, was $4.0 million and $3.8 million, respectively. 

Stock-Based Compensation

Total stock-based compensation expense recorded in the Consolidated Statements of Income for the years ended December 31, is as follows (in thousands):

	Years Ended December 31,
	2024		2023		2022
Cost of revenues (excluding depreciation and amortization)	$	94	$	183	$	155
Product development		745		692		608
Sales and marketing		529		485		239
General and administrative		3,102		2,793		2,552
Total stock-based compensation expense	$	4,470	$	4,153	$	3,554

The Company amortizes the fair value of all stock-based awards, net of estimated forfeitures, on a straight-line basis over the requisite service period, which generally is the vesting period. As of December 31, 2024, total unrecognized compensation expense related to non-vested stock options and RSUs was $6.7 million, net of estimated forfeitures, with a weighted average expense recognition period remaining of 2.5 years.