Long Term Incentive Plan

3 Months Ended

Mar. 31, 2024

Long Term Incentive Plan [Abstract]

Long Term Incentive Plan

NOTE 7: Long Term Incentive Plan

Compensation expense for restricted stock awards is recognized in G&A. Forfeitures of awards are recognized at the time of forfeiture. The following table summarizes the Company’s pre-tax compensation expense for the three months ended March 31, 2024 and 2023 related to the Company’s market-based and time-based restricted stock:

	Three Months Ended
	March 31,
	2024		2023
Market-based, restricted stock	$	480,676	$	523,410
Time-based, restricted stock		175,980		57,588
Total compensation expense	$	656,656	$	580,998

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 March 31, 2024
	Unrecognized Compensation Cost		Weighted Average Period (in years)
Market-based, restricted stock	$	1,961,976		1.55
Time-based, restricted stock		865,155		1.71
Total	$	2,827,131