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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Activity

The following table presents the Company's total stock-based compensation expense:

 

 

Three Months Ended March 31,

 

 

2026

 

 

2025

 

Employee stock-based compensation expense

 

 

 

 

 

Pre-tax (1)

$

1,010

 

 

$

598

 

Post-tax (2)

 

798

 

 

 

472

 

Director stock-based compensation expense

 

 

 

 

 

Pre-tax (1)

 

119

 

 

 

135

 

Post-tax (2)

 

94

 

 

 

107

 

(1) The after-tax amounts are determined using the 21% corporate federal tax rate.

Schedule of Nonvested Share Activity

The following table presents certain information related to the activity of the Company's non-vested restricted common stock grants:

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Outstanding as of December 31, 2025

 

576,781

 

 

$

10.12

 

Granted

 

46,303

 

 

 

11.36

 

Less: Forfeited

 

 

 

 

 

Less: Vested

 

19,081

 

 

 

10.06

 

Outstanding as of March 31, 2026

 

604,003

 

 

$

10.21

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following weighted-average assumptions were used to value the stock options granted as of the balance sheet dates, March 31, 2026 and December 31, 2025:

 

 

2026

 

 

2025

 

Expected annual dividend yield

 

%

 

 

%

Expected volatility

 

%

 

 

88.51

%

Risk-free interest rate

 

%

 

 

3.87

%

Expected term

N/A

 

 

6 years

 

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity

The following table presents certain information related to the activity of the Company's stock option grants:

 

 

Number of
Stock Options

 

 

Weighted
Average
Exercise Prices

 

 

Weighted Average Remaining Contractual Term (years)

 

 

Aggregate
Intrinsic
Value
(1)

 

Outstanding as of December 31, 2025

 

965,730

 

 

$

4.95

 

 

 

6.50

 

 

$

6,949,000

 

Granted

 

 

 

 

 

 

 

 

 

 

 

Less: Forfeited

 

 

 

 

 

 

 

 

 

 

 

Less: Expired

 

 

 

 

 

 

 

 

 

 

 

Less: Exercised

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2026

 

965,730

 

 

$

4.95

 

 

 

6.26

 

 

$

6,395,000

 

 

 

 

 

 

 

 

 

 

 

 

Vested and Exercisable as of March 31, 2026

 

799,869

 

 

$

4.24

 

 

 

5.78

 

 

$

5,890,000

 

(1) Presented in ones.