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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Time Based Restricted Stock Grant Activity

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

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Time-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2023

 

 

33,100

 

 

$

4.84

 

Granted

 

 

90,652

 

 

$

4.32

 

Vested

 

 

(11,229

)

 

$

4.47

 

Forfeited

 

 

(843

)

 

$

5.20

 

Unvested at March 31, 2024

 

 

111,680

 

 

$

4.45

 

Summary of Performance Based Grant Activity

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

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

Performance-Based Restricted Stock Grants

 

Shares

 

 

Fair Value

 

Unvested at December 31, 2023

 

 

40,024

 

 

$

5.14

 

Granted

 

 

23,726

 

 

$

4.32

 

Vested

 

 

(4,136

)

 

$

5.05

 

Unvested at March 31, 2024

 

 

59,614

 

 

$

4.82