Stock-based Payments and Director Fees (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of management fees and director fees

The following table sets forth the Company’s stock-based management fees and independent director fees ($ in thousands):

Stock-based Management Fees and Director Fees

	For the three months ended March 31,
	2024			2023
	Number of shares	Amount of expense recognized		Number of shares	Amount of expense recognized
Independent director fees	3,080	$	15	13,020	$	88
Totals	3,080	$	15	13,020	$	88

Schedule of grants of restricted stock

Under the Company’s 2014 Director Equity Plan and 2016 Equity Incentive Plan the Company made grants of restricted stock to its Directors and to employees of its Manager and Servicer as set forth in the table below:

	Employee and Service Provider Grants				Director Grants
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Three months ended March 31, 2023
December 31, 2022 outstanding unvested share grants	310,262		$	10.98	—		$	—
Shares vested	(30,515)		11.56		—		—
Shares forfeited	(5,668)		10.30		—		—
Shares granted	3,000		7.34		25,000		7.15
March 31, 2023 outstanding unvested share grants	277,079	(1)	$	10.88	25,000	(2)	$	7.15

(1)Weighted average remaining life of unvested shares for employee and service provider grants at March 31, 2023 is 2.2 years.

(2)Weighted average remaining life of unvested shares for director grants at March 31, 2023 is 1.9 years.

	Employee and Service Provider Grants				Director Grants
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Three months ended March 31, 2024
December 31, 2023 outstanding unvested share grants	159,142		$	10.33	25,000		$	7.15
Shares vested	(5,625)		10.91		—		—
Shares forfeited	(2,167)		7.89		—		—
Shares granted	66,421		3.59		—		—
March 31, 2024 outstanding unvested share grants	217,771	(1)	$	8.29	25,000	(2)	$	7.15

(1)Weighted average remaining life of unvested shares for employee and service provider grants at March 31, 2024 is 1.3 years.

(2)Weighted average remaining life of unvested shares for director grants at March 31, 2024 is 0.9 years.

Schedule of restricted stock plan grants, expense

The following table presents the expenses for the Company's restricted stock plan ($ in thousands):

	Three months ended March 31,
	2024		2023
Restricted stock grants	$	253	$	517
Director grants	22		7
Total expenses for plan grants	$	275	$	524