Long Term Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2023

Long Term Incentive Plan [Abstract]

Summary of Pre-Tax Compensation Expense

The following table summarizes the Company’s pre-tax compensation expense for the three and nine months ended September 30, 2023 and 2022 related to the Company’s market-based, time-based and performance-based restricted stock:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Market-based, restricted stock	$	324,039	$	313,054	$	1,370,857	$	940,654
Time-based, restricted stock		142,727		216,338		324,780		551,941
Performance-based, restricted stock		-		463,234		-		463,234
Total compensation expense	$	466,766	$	992,626	$	1,695,637	$	1,955,829

Summary Of Unrecognized Compensation Cost

A summary of the Company’s unrecognized compensation cost for its unvested market-based and time-based restricted stock and the weighted-average periods over which the compensation cost is expected to be recognized is shown in the following table:

	As of September 30, 2023
	Unrecognized Compensation Cost		Weighted Average Period (in years)
Market-based, restricted stock	$	1,167,618		1.29
Time-based, restricted stock		472,762		1.59
Total	$	1,640,380