Note 9 - Stock Compensation Plans

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

Note 9 —    Stock Compensation Plans

In May 2017, Shareholders approved the Escalade, Incorporated 2017 Incentive Plan (2017 Incentive Plan), which is an incentive plan for key employees, directors and consultants with various equity-based incentives as described in the plan document. The 2017 Incentive Plan is a replacement for the 2007 Incentive Plan, which expired at the end of April 2017.

The 2017 Incentive Plan is administered by the Board of Directors or a committee thereof, which is authorized to determine, among other things, the key employees, directors or consultants who will receive awards under the plan, the amount and type of award, exercise prices or performance criteria, if applicable, and vesting schedules. Under the original terms of the plan and subject to various restrictions contained in the plan document, the total number of shares of common stock which may be issued pursuant to awards under the Plan may not exceed 1,661,598.

Restricted Stock Awards

In 2025, the Company awarded 18,000 restricted stock units to directors, 105,181 restricted stock units and 35,000 shares of restricted stock to employees. The restricted stock units awarded to directors time vest over two years (one-half one year from grant date and one-half two years from grant date) provided that the director is still a director of the Company at the vest date. Director restricted stock units are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. All of the 2025 restricted stock units awarded to employees time vest over three years (one-third one year from grant, one-third two years from grant and one-third three years from grant) provided that the employee is still employed by the Company on the vesting date. The 35,000 shares of restricted stock were forfeited during the three months ended December 31, 2025. The Company has elected to account for forfeitures when they actually occur.

A summary of restricted stock awards activity is as follows:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested stock units as of December 31, 2023		305,126		$	13.58
Granted		143,700			12.86
Vested		(140,502	)		13.91
Forfeited		(1,002	)		12.98
Non-vested stock units as of December 31, 2024		307,322		$	13.09
Granted		158,181			15.31
Vested		(165,485	)		13.32
Forfeited		(67,830	)		15.78
Non-vested stock units as of December 31, 2025		232,188		$	13.65

The closing market price of the Company’s stock on the grant date is used to value restricted stock units. In 2025 and 2024 the Company recognized $1.7 million and $1.9 million, respectively, in compensation expense related to restricted stock units and as of December 31, 2025 and December 31, 2024, there was $1.0 million and $1.3 million, respectively, of unrecognized compensation expense related to restricted stock units. The unrecognized compensation expense of unvested restricted stock awards not yet recognized as of December 31, 2025 are expected to be recognized over the weighted average period of 1.26 years.