Share-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Stock-Based Compensation Expense |
The following table presents the total stock-based compensation expense, which is included in selling, general and administrative expenses (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
|
2025 |
|
2024 |
|
|
| Restricted share expense |
|
$ |
2,384 |
|
|
$ |
2,384 |
|
|
|
| Stock option expense |
|
1,979 |
|
|
2,076 |
|
|
|
| Total stock-based compensation expense |
|
$ |
4,363 |
|
|
$ |
4,460 |
|
|
|
|
|
|
|
|
|
|
| Tax benefit related to stock-based compensation |
|
$ |
766 |
|
|
$ |
475 |
|
|
|
|
| Schedule of Restricted Share Activity, Excluding Company's Employee Stock Purchase Plan |
The following table summarizes the Company’s restricted share activity, excluding the Company’s employee stock purchase plan:
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
shares |
|
Weighted
average
grant
date fair
value |
|
|
|
|
| Unvested at December 31, 2024 |
503,894 |
|
|
$ |
8.55 |
|
| Granted |
228,539 |
|
|
6.12 |
|
| Vested |
(110,286) |
|
|
9.36 |
|
| Vested shares forgone to satisfy minimum statutory withholding |
(65,989) |
|
|
9.36 |
|
| Forfeitures |
(75,279) |
|
|
7.19 |
|
| Unvested at December 31, 2025 |
480,879 |
|
|
$ |
7.31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
| Weighted average grant date fair value of awards granted |
$ |
6.12 |
|
|
$ |
7.51 |
|
|
|
| Total fair value of shares vested |
$ |
824,800 |
|
|
$ |
1,122,749 |
|
|
|
| Total fair value of shares forgone to satisfy minimum statutory withholding |
$ |
493,515 |
|
|
$ |
651,469 |
|
|
|
|
| Schedule of PSU Activity |
The following table summarizes the Company’s PSU activity:
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares |
|
Weighted
average
grant
date fair value |
|
|
|
|
| Unvested at December 31, 2024 |
189,221 |
|
|
$ |
7.92 |
|
| Granted |
364,905 |
|
|
5.70 |
|
|
|
|
|
| Vested |
(30,325) |
|
|
3.19 |
|
| Vested shares forgone to satisfy minimum statutory withholding |
(19,675) |
|
|
3.19 |
|
| Forfeitures |
(121,324) |
|
|
9.17 |
|
| Unvested at December 31, 2025 |
382,802 |
|
|
$ |
6.03 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
| Weighted average grant date fair value of awards granted |
$ |
5.70 |
|
|
$ |
5.69 |
|
|
|
| Total fair value of shares vested |
$ |
309,921 |
|
|
$ |
83,862 |
|
|
|
| Total fair value of shares forgone to satisfy minimum statutory withholding |
$ |
201,079 |
|
|
$ |
67,137 |
|
|
|
|
| Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity |
The following table summarizes the activity relating to the Company’s ESPP program:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2025 |
|
2024 |
|
|
| Compensation expense |
$ |
139,140 |
|
|
$ |
93,523 |
|
|
|
| Shares of stock sold to employees |
61,470 |
|
|
52,965 |
|
|
|
| Weighted average fair value per ESPP award |
$ |
6.00 |
|
|
$ |
9.21 |
|
|
|
|
| Schedule of Share-based Payment Arrangement, Option, Activity |
The following tables detail the various stock option activity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2014 Plan (Options) |
|
Number
of Authorized
Shares |
|
Weighted-
Average Exercise
Price |
|
Weighted-
Average
Remaining
Contractual Term (in Years) |
|
Aggregate
Intrinsic Value |
| Outstanding at December 31, 2024 |
|
535,667 |
|
|
$ |
7.00 |
|
|
3.57 |
|
$ |
1,588,137 |
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
(49,259) |
|
|
2.59 |
|
|
|
|
|
| Exercised shares forgone to satisfy minimum statutory withholding |
|
(32,889) |
|
|
2.57 |
|
|
|
|
|
| Shares tendered for cashless exercise |
|
(27,852) |
|
|
2.50 |
|
|
|
|
|
| Forfeitures and expirations |
|
(75,750) |
|
|
8.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2025 |
|
349,917 |
|
|
$ |
8.09 |
|
|
3.60 |
|
$ |
960,120 |
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2025 |
|
349,917 |
|
|
$ |
8.09 |
|
|
3.60 |
|
$ |
960,120 |
|
Aggregate Intrinsic Value = Excess of market value over the option exercise price of all in-the-money stock options.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2021 Plan (Options) |
|
Number
of Authorized
Shares |
|
Weighted-
Average Exercise
Price |
|
Weighted-
Average
Remaining
Contractual Term (in Years) |
|
Aggregate
Intrinsic Value |
| Outstanding at December 31, 2024 |
|
1,840,786 |
|
|
$ |
8.93 |
|
|
8.54 |
|
$ |
1,504,894 |
|
| Granted |
|
889,421 |
|
|
6.13 |
|
|
|
|
|
| Exercised |
|
(12,549) |
|
|
8.22 |
|
|
|
|
|
| Exercised shares forgone to satisfy minimum statutory withholding |
|
(14,356) |
|
|
7.09 |
|
|
|
|
|
| Cashless exercise |
|
(177,214) |
|
|
8.39 |
|
|
|
|
|
| Forfeitures and expirations |
|
(236,755) |
|
|
8.06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2025 |
|
2,289,333 |
|
|
$ |
8.00 |
|
|
8.15 |
|
$ |
3,888,088 |
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2025 |
|
911,118 |
|
|
$ |
9.93 |
|
|
7.22 |
|
$ |
729,868 |
|
Aggregate Intrinsic Value = Excess of market value over the option exercise price of all in-the-money stock options.
|
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The following is the average fair value per share estimated on the date of grant and the assumptions used for options granted:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
| Stock Options: |
|
2025 |
|
2024 |
|
|
| Expected volatility |
|
46% to 57% |
|
46% to 51% |
|
|
| Risk free interest rate |
|
3.56% to 4.01% |
|
4.22% to 4.60% |
|
|
| Expected lives at date of grant (in years) |
|
4.24 |
|
4.08 |
|
|
| Weighted average fair value of options granted |
|
$2.75 |
|
$2.97 |
|
|
| Total intrinsic value of options exercised |
|
$ |
926,116 |
|
|
$ |
322,797 |
|
|
|
|