XML 114 R89.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
10-Q STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Restricted Stock Unit, Activity
The following table shows a summary of the unvested restricted stock under the 2023 Long-Term Equity Compensation Incentive Plan as of March 31, 2024 as well as activity during the year:
Number of sharesWeighted Average Grant Date Fair Value
Restricted stock units, unvested, December 31, 20232,429,500 $6.16 
Granted108,000 $12.37 
Vested— $— 
Forfeited— $— 
Restricted stock units, unvested, March 31, 20242,537,500 $6.42 
Restricted Stock activity relative to the CEO for the three months ended March 31, 2024 is summarized as follows:
Number of Shares Weighted Average Grant Date Fair Value
Outstanding at December 31, 20234,569,922 $10.03 
Granted— $— 
Vested— $— 
Forfeited— $— 
Outstanding at March 31, 20244,569,922 $10.03 
The following table shows a summary of the unvested restricted stock under the 2023 Long-Term Equity Compensation Incentive Plan as of December 31, 2023 as well as activity during the year:
Number of sharesWeighted Average Grant Date Fair Value
Restricted stock units, unvested, December 31, 2022— $— 
Granted2,468,500 $6.16 
Vested(39,000)$6.16 
Forfeited— $— 
Restricted stock units, unvested, December 31, 20232,429,500 $6.16 
Restricted Stock activity relative to the CEO for the year ended December 31, 2023 is summarized as follows:
Number of Shares Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022— $— 
Granted4,569,922 $10.03 
Forfeited— $— 
Settled— $— 
Outstanding at December 31, 20234,569,922 $10.03 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
Black-Scholes option-pricing model assumptions and the resulting fair value of options are presented in the following table:
2024
Dividend yield— %
Expected volatility23.00 %
Risk-free interest rate3.98 %
Expected option life5.81 years
Weighted average fair value of options$3.91 
Share-Based Payment Arrangement, Option, Activity
The following table shows the status of, and changes in, common stock options:
Number of Options Weighted Average Exercise Price
Options outstanding, December 31, 2023— $— 
Granted345,263 $3.91 
Exercised— $— 
Expired or cancelled— $— 
Options exercisable, March 31, 2024345,263 $3.91 
Share-Based Payment Arrangement, Expense
CEO Stock-based compensation expense is recorded in general and administrative expense (including stock-based compensation) in the consolidated statements of operations and comprehensive (loss) income is summarized as follows:
Three Months Ended March 31,
20242023
Stock-based compensation expense$4,583,632 $— 
CEO Stock-based compensation expense is recorded in general and administrative expense (including stock-based compensation) summarized as follows:
Years Ended December 31,
20232022
Stock-based compensation expense$9,167,264 $—