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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Time Based Restricted Stock Grant Activity

A summary of the Company’s time-based restricted stock grant activity is as follows:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Time-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2021

 

 

61,201

 

 

$

4.45

 

Granted

 

 

11,000

 

 

$

5.52

 

Vested

 

 

(23,645

)

 

$

4.50

 

Forfeited

 

 

(3,313

)

 

$

4.74

 

Unvested at December 31, 2022

 

 

45,243

 

 

$

4.66

 

Granted

 

 

19,238

 

 

$

5.01

 

Vested

 

 

(26,362

)

 

$

4.62

 

Forfeited

 

 

(5,019

)

 

$

5.02

 

Unvested at December 31, 2023

 

 

33,100

 

 

$

4.84

 

Summary of Performance Based Grant Activity

A summary of the Company’s performance-based restricted stock grant activity is as follows:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Performance-based Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2021

 

 

22,535

 

 

$

4.34

 

Granted

 

 

18,944

 

 

$

5.52

 

Vested

 

 

(15,588

)

 

$

4.57

 

Unvested at December 31, 2022

 

 

25,891

 

 

$

5.07

 

Granted

 

 

30,217

 

 

$

5.11

 

Vested

 

 

(16,084

)

 

$

4.96

 

Unvested at December 31, 2023

 

 

40,024

 

 

$

5.14