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

Stock-Based Compensation (Tables)

v3.25.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions used for Stock Options The Company has 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, 2022
531,923  $ 9.2  4.7 $ 3,797,904 
Granted at market price — 
Exercised (25,623) 7.90  $ 205,191 
Expired (12,591) 13.07 
Cancelled (7,375) 28.58 
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  3.26 $ 777,566 
Exercisable at December 31, 2024
239,901  $ 11.39  2.18 $ 777,566 
Vested and expected to vest at December 31, 2024
277,773  $ 11.81  3.16 $ 777,566 
Schedule of Restricted Stock Activity
The information below summaries the restricted stock activity:
Restricted Stock Awards Shares Weighted Average Grant-Date Fair Value per Award
Non-vested at December 31, 2022
70,312  $ 29.05 
Granted 204,122  14.54 
Vested (33,869) 22.06 
Cancelled (8,664) 28.46 
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