STOCK COMPENSATION PLANS

9 Months Ended

Sep. 30, 2024

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS

(9) STOCK COMPENSATION PLANS

Non-vested grants as of December 31, 2023	858,363
Awarded - weighted average share price on award date was $5.69	599,013
Vested - weighted average share price on vested date was $5.30	(379,390)
Forfeited	(42,500)
Non-vested grants as of September 30, 2024	1,035,486

For the three and nine months ended September 30, 2024, our stock compensation was $1.1 million and $3.3 million, respectively. For the three and nine months ended September 30, 2023, our stock compensation was $0.8 million and $2.8 million, respectively.

Non-vested RSU grants will vest as follows:

Vesting Year	RSUs Vesting
2024	1,000
2025	682,068
2026	176,210
2027	176,208
	1,035,486

The outstanding RSUs have a value of $9.8 million based on the September 30, 2024 closing stock price of $9.43.

As of September 30, 2024, unrecognized stock compensation expense is $3.8 million, and we had 53,761 RSUs available for future issuance. RSUs are not allocated earnings and losses as they are considered non-participating securities.