15.          Stockholders’ Equity and Stock Based Compensation:

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The 2021 Omnibus Incentive Plan (the “2021 Plan”) authorizes the grant of Stock Options, Stock Units, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Stock Bonuses and other equity-based awards. The 2021 Plan was approved by the Company’s stockholders at the 2021 Annual Meeting in June 2021. The total number of shares of the Company’s common stock, par value $0.01 per share (“Common Stock”) initially available for award under the 2021 Plan was 500,000 shares. As of March 31, 2025, the number of shares of Common Stock available for future award grants to employees, officers and directors under the 2021 Plan is 201,392.

During the three months ended March 31, 2025, the Company granted a total of 1,906 shares of Restricted Stock to an officer. These shares of Restricted Stock vest over time in sixteen equal quarterly installments. During the three months ended March 31, 2025, a total of 12,043 shares of Restricted Stock were forfeited.

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During the three months ended March 31, 2024, the Company granted a total of 18,938 shares of Restricted Stock to officers and employees. These shares of Restricted Stock vest immediately, over time in three equal installments or over time in sixteen equal quarterly installments.

A summary of nonvested shares of Restricted Stock awards outstanding under the 2021 Plan as of March 31, 2025, and changes during the three months then ended is as follows:

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As of March 31, 2025, there is approximately $3.4 million of total unrecognized compensation costs related to nonvested share-based compensation arrangements. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 2.1 years.

During the three months ended March 31, 2025 and 2024, the Company recognized share-based compensation expense of $1.3 million and $0.8 million, respectively.