Quarterly report [Sections 13 or 15(d)]

Note 15 - Stockholders' Equity and Stock Based Compensation

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Note 15 - Stockholders' Equity and Stock Based Compensation
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

15.          Stockholders Equity and Stock Based Compensation:

 

The 2021 Omnibus Incentive Plan (the “2021 Plan”) authorizes the grant of Stock Options, Restricted 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 2,000,000 shares, as adjusted for the Stock Split. As of March 31, 2026, the number of shares of Common Stock available for future award grants to employees, officers and directors under the 2021 Plan is 356,540, as adjusted for the Stock Split.

 

During the three months ended March 31, 2026, the Company granted a total of 88,748 Restricted Stock Units to officers. During the three months ended March 31, 2026, a total of 3,776 Restricted Stock Units were forfeited.

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During the three months ended March 31, 2025, the Company granted a total of 7,624 Restricted Stock Units to an officer. During the three months ended March 31, 2025, a total of 48,172 Restricted Stock Units were forfeited.

 

A summary of nonvested Restricted Stock Unit awards, as adjusted for the Stock Split, outstanding under the 2021 Plan as of March 31, 2026, and changes during the three months then ended is as follows:

 ​

         

Weighted

 
         

Average Grant

 
         

Date

 
   

Shares

   

Fair Value

 

Nonvested shares at January 1, 2026

    272,132     $ 18.47  

Granted in 2026

    88,748       12.93  

Vested in 2026

    (162,832 )     14.34  

Forfeited in 2026

    (3,776 )     21.24  

Nonvested shares at March 31, 2026

    194,272     $ 19.35  

 

As of March 31, 2026, there is approximately $3.3 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 1.7 years.

 

During the three months ended March 31, 2026 and 2025, the Company recognized share-based compensation expense of $1.4 million and $1.3 million, respectively.