Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Dividends Declared on Common Stock

The following table presents dividends declared by the Company on its common stock during 2024 and 2023:

	Record	Payment	Dividend
Declaration Date	Date	Date	Per Share
March 14, 2023	March 31, 2023	April 14, 2023	$	0.33	(1)
March 14, 2023	March 31, 2023	April 17, 2023	$	0.10
June 8, 2023	June 30, 2023	July 14, 2023	$	0.10
August 1, 2023	September 30, 2023	October 16, 2023	$	0.10
November 7, 2023	December 31, 2023	January 12, 2024	$	0.10
March 12, 2024	March 31, 2024	April 12, 2024	$	0.66	(2)
March 12, 2024	March 31, 2024	April 15, 2024	$	0.12
June 13, 2024	June 30, 2024	July 12, 2024	$	0.12
August 6, 2024	September 30, 2024	October 11, 2024	$	0.12
November 4, 2024	December 31, 2024	January 10, 2025	$	0.12

(1)Represents a supplemental 2022 dividend.

(2)Represents a supplemental 2023 dividend.

Schedule of Shares Issued Under the 2007 Plan and 2017 Plan

The following table presents shares issued by the Company under the 2007 Plan and the 2017 Plan:

Shares Issued Under the 2007 Plan
Grant	Total		Value		Approximate
Date	Shares Issued		Per Share		Value of Shares		Vesting Period
April 30, 2012		55,149	$	6.80	$	375,000	3 Years	(2)
June 7, 2012		5,884	$	6.80	$	40,000	Immediately	(1)
March 21, 2013		46,876	$	6.40	$	300,000	3 Years	(2)
March 21, 2013		3,126	$	6.40	$	20,000	Immediately	(1)
June 6, 2013		9,378	$	6.40	$	60,000	Immediately	(1)
June 4, 2014		44,704	$	6.80	$	304,000	5 years	(2)
June 19, 2014		8,820	$	6.80	$	60,000	Immediately	(1)
March 26, 2015		43,010	$	9.30	$	400,000	5 years	(2)
June 19, 2015		16,436	$	10.65	$	175,000	Immediately	(1)
March 24, 2016		47,043	$	10.40	$	489,000	5 years	(2)
June 9, 2016		14,424	$	10.40	$	150,000	Immediately	(1)
May 22, 2017		34,482	$	11.60	$	400,000	9 years	(2)
May 31, 2017		7,929	$	11.60	$	92,000	Immediately	(3)
June 8, 2017		15,516	$	11.60	$	180,000	Immediately	(1)
Shares Issued Under the 2017 Plan
Grant	Total		Value		Approximate
Date	Shares Issued		Per Share		Value of Shares		Vesting Period
June 7, 2018		42,918	$	11.65	$	500,000	9 Years	(2)
June 7, 2018		15,020	$	11.65	$	175,000	Immediately	(1)
June 5, 2019		64,654	$	11.60	$	750,000	9 Years	(2)
June 5, 2019		15,085	$	11.60	$	175,000	Immediately	(1)
June 4, 2020		72,834	$	12.70	$	925,000	9 Years	(2)
June 4, 2020		16,530	$	12.70	$	210,000	Immediately	(1)
June 10, 2021		123,947	$	11.90	$	1,475,000	9 Years	(2)
June 10, 2021		22,686	$	11.90	$	270,000	Immediately	(1)
June 9, 2022		85,398	$	18.15	$	1,550,000	9 Years	(2)
June 9, 2022		14,874	$	18.15	$	270,000	Immediately	(1)
June 8, 2023		78,548	$	16.55	$	1,300,000	9 Years	(2)
June 8, 2023		16,615	$	16.55	$	275,000	Immediately	(1)
June 13, 2024		111,776	$	22.50	$	2,515,000	9 Years	(2)
June 13, 2024		14,664	$	22.50	$	330,000	Immediately	(1)

(1)Shares issued to non-management members of the Board of Directors.

(2)Shares issued to certain executives of the Company.

(3)Shares issued to current and former executives of the Company in connection with the exercise of previously issued options.

Summary of Restricted Stock Activity

The following is a summary of restricted stock activity:

				Weighted Average
				Grant Date Fair
	Shares			Value
Non-vested shares outstanding as of December 31, 2023		161,945		$	14.91
New shares issued through December 31, 2024		126,440			22.50
Vested		(102,418	)		19.64
Non-vested shares outstanding as of December 31, 2024		185,967		$	18.03

Summary of Vesting Schedule of Non-vested Shares of Restricted Stock Outstanding

The following is a vesting schedule of the non-vested shares of restricted stock outstanding as of December 31, 2024:

	Number of Shares
2025		59,429
2026		42,995
2027		31,100
2028		21,875
2029		14,461
2030		8,760
Thereafter		7,347
Total Non-vested Shares		185,967