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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Outstanding Restricted Stock Units ("RSU") and Performance Share Awards ("PSU")

Outstanding RSUs and PSUs, which would represent non-vested awards, as of December 31, 2024 and 2023, and activity for the years then ended, are summarized below. Forfeitures resulting from failure to provide continuous service to the Corporation throughout the service period are recognized as they occur. Forfeitures resulting from failure to achieve the performance or market condition of an award are recognized when the performance or market condition is not met.

 

 

Number of
RSUs

 

 

Weighted-
Average
Fair
Value

 

 

Number of
PSUs

 

 

Weighted-
Average
Fair
Value

 

Outstanding at January 1, 2023

 

 

343,182

 

 

$

5.29

 

 

 

396,537

 

 

$

6.57

 

Granted

 

 

216,523

 

 

 

2.73

 

 

 

488,399

 

 

 

2.51

 

Converted to common stock

 

 

(159,314

)

 

 

4.97

 

 

 

(60,815

)

 

 

5.34

 

Forfeited

 

 

(9,652

)

 

 

4.07

 

 

 

(156,333

)

 

 

6.78

 

Outstanding at December 31, 2023

 

 

390,739

 

 

 

4.03

 

 

 

667,788

 

 

 

3.66

 

Granted

 

 

227,211

 

 

 

1.61

 

 

 

270,439

 

 

 

1.63

 

Converted to common stock

 

 

(183,047

)

 

 

4.53

 

 

 

 

 

 

 

Forfeited

 

 

(10,832

)

 

 

3.88

 

 

 

(179,389

)

 

 

6.80

 

Outstanding at December 31, 2024

 

 

424,071

 

 

$

2.53

 

 

 

758,838

 

 

$

2.20

 

 

Summary of Outstanding Stock Options

Outstanding stock options, all of which are fully vested, as of December 31, 2024 and 2023, and activity for the years then ended, are as follows:

 

 

Number of
Shares Under
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Remaining
Contractual
Life In
Years

 

 

Intrinsic
Value

 

Outstanding at January 1, 2023

 

 

74,000

 

 

$

18.60

 

 

 

0.8

 

 

$

 

Expired

 

 

(36,500

)

 

 

17.16

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

37,500

 

 

 

20.00

 

 

 

0.3

 

 

 

 

Expired

 

 

(37,500

)

 

 

20.00

 

 

 

 

 

 

 

Outstanding at December 31, 2024

 

 

 

 

$

 

 

 

 

 

$

 

Exercisable at December 31, 2024

 

 

 

 

$

 

 

 

 

 

$

 

Vested or expected to vest at December 31, 2024

 

 

 

 

$

 

 

 

 

 

$

 

Summary of Outstanding Restricted Stock Awards Outstanding restricted stock awards granted to non-employee members of the Board of Directors as of December 31, 2024 and 2023, and activity for the years then ended, are as follows:

 

 

 

 

 

 

Number of
Restricted Stock Awards

 

 

Weighted-
Average
Fair
Value

 

Outstanding at January 1, 2023

 

 

 

 

 

 

172,735

 

 

$

5.50

 

Granted

 

 

 

 

 

 

136,371

 

 

 

2.79

 

Converted to common stock

 

 

 

 

 

 

(172,735

)

 

 

5.50

 

Outstanding at December 31, 2023

 

 

 

 

 

 

136,371

 

 

 

2.79

 

Granted

 

 

 

 

 

 

114,552

 

 

 

1.61

 

Converted to common stock

 

 

 

 

 

 

(136,371

)

 

 

2.79

 

Outstanding at December 31, 2024

 

 

 

 

 

 

114,552

 

 

$

1.61