Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation (Tables)

v3.25.4
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions used for Stock Options We have computed the fair value of all options granted using the Black-Scholes-Merton model during the year ended December 31, 2024, using the following assumptions:
Year Ended December 31, 2024
Expected volatility 64%
Expected dividends None
Expected term (years) 6.25
Risk-free rate 3.86%
Schedule of Stock Options Activity
The information below summarizes the stock options activity:
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual Life
Aggregate Intrinsic Value
Outstanding at December 31, 2023
486,334  $ 8.88  3.7 $ 1,903,699 
Granted at market price 38,059  10.51 
Exercised (227,952) 4.08  $ 1,435,074 
Expired (9,201) 26.52 
Cancelled (5,263) 41.18 
Outstanding at December 31, 2024
281,977  $ 11.80  3.3 $ 777,566 
Exercised (123,460) 5.04  $ 656,751 
Expired (89,604) 19.01 
Cancelled (432) 45.39 
Outstanding at December 31, 2025
68,481  $ 14.33  6.0 $ 59,412 
Exercisable at December 31, 2025
39,936  $ 17.06  4.0 $ 59,412 
Vested and expected to vest at December 31, 2025
66,000  $ 14.47  5.9 $ 59,412 
Schedule of Restricted Stock Activity
The information below summarizes the restricted stock activity:
Shares Weighted Average Grant-Date Fair Value per Award
Non-vested at December 31, 2023
231,901  $ 17.32 
Granted 285,656  9.95 
Vested (107,103) 16.17 
Cancelled (104,472) 14.05 
Non-vested at December 31, 2024
305,982  11.97 
Granted 301,896  10.54 
Vested (107,854) 12.61 
Cancelled (146,534) 11.24 
Non-vested at December 31, 2025
353,490  $ 10.86