Stock Options and Warrants (Table)
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6 Months Ended |
Jun. 30, 2024 |
Stock Options And Warrants [Abstract] |
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Summary of Stock Option Activity |
A summary of stock option activity for the six months ended June 30, 2024 and 2023 is presented below:
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June 30, 2024 |
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June 30, 2023 |
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Shares Underlying Options |
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Weighted Average Exercise Price |
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Shares Underlying Options |
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Weighted Average Exercise Price |
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Outstanding at beginning of period |
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1,126,023 |
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$ |
17.72 |
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1,203,928 |
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$ |
18.05 |
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Granted during the period |
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28,500 |
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20.17 |
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22,500 |
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16.77 |
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Forfeited during the period |
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(48,770 |
) |
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16.57 |
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(64,600 |
) |
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21.57 |
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Exercised during the period |
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(16,908 |
) |
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11.27 |
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— |
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— |
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Outstanding at the end of period |
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1,088,845 |
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$ |
17.93 |
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1,161,828 |
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$ |
17.83 |
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Options exercisable at end of period |
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720,685 |
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$ |
16.86 |
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654,758 |
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$ |
16.06 |
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Weighted-average grant date fair value of options granted during the period |
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$ |
7.71 |
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$ |
5.43 |
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Schedule of Weighted Average Remaining life |
A summary of weighted average remaining life is presented below:
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June 30, 2024 |
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June 30, 2023 |
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Exercise Price |
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Options Outstanding |
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Weighted Average Remaining Life (years) |
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Options Exercisable |
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Options Outstanding |
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Weighted Average Remaining Life (years) |
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Options Exercisable |
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$10.00 - $12.99 |
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116,800 |
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0.54 |
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116,800 |
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146,553 |
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1.46 |
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146,553 |
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$13.00 - $16.99 |
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414,495 |
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5.10 |
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355,285 |
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440,275 |
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5.99 |
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344,905 |
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$17.00 - $26.99 |
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557,550 |
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7.41 |
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248,600 |
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575,000 |
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8.23 |
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163,300 |
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1,088,845 |
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5.79 |
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720,685 |
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1,161,828 |
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6.52 |
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654,758 |
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Schedule of Nonvested Share Activity |
A summary of the activity in the Company’s nonvested shares for the six months ended June 30, 2024 and 2023 is as follows:
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June 30, 2024 |
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June 30, 2023 |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
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Nonvested at January 1, |
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447,970 |
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$ |
3.94 |
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676,270 |
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$ |
3.82 |
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Granted during the period |
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28,500 |
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7.71 |
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22,500 |
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5.43 |
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Vested during the period |
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(98,310 |
) |
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3.33 |
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(140,900 |
) |
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3.05 |
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Forfeited during the period |
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(10,000 |
) |
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3.09 |
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(50,800 |
) |
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3.43 |
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Nonvested at end of period |
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368,160 |
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$ |
4.41 |
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507,070 |
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$ |
3.89 |
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Schedule Of Stock Warrant Activity |
A summary of the Company’s stock warrant activity for the six months ended June 30, 2024 and 2023 is presented below:
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June 30, 2024 |
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June 30, 2023 |
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Shares Underlying Warrants |
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Weighted Average Exercise Price |
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Shares Underlying Warrants |
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Weighted Average Exercise Price |
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Outstanding at beginning of period |
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175,000 |
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$ |
22.50 |
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179,285 |
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$ |
22.23 |
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Exercised during the period |
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— |
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— |
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(4,285 |
) |
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11.00 |
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Outstanding at end of period |
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175,000 |
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$ |
22.50 |
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175,000 |
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$ |
22.50 |
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Exercisable at end of period |
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175,000 |
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$ |
22.50 |
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175,000 |
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$ |
22.50 |
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Summary of Activity for Non-vested RSAs |
A summary of the activity for non-vested RSAs for the six months ended June 30, 2024 and 2023 is presented below:
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June 30, 2024 |
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June 30, 2023 |
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Shares |
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Weighted Average Grant Date Fair Value |
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Shares |
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Weighted Average Grant Date Fair Value |
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Nonvested at beginning of period |
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110,224 |
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$ |
17.44 |
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76,094 |
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$ |
22.35 |
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Granted during the period |
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44,659 |
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20.08 |
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73,676 |
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16.07 |
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Vested during the period |
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(48,291 |
) |
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17.28 |
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(6,536 |
) |
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24.70 |
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Forfeited during the period |
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— |
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— |
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— |
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— |
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Nonvested at the end of period |
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106,592 |
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$ |
19.36 |
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143,234 |
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$ |
19.01 |
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