Long Term Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024 and 2023 related to the Company’s market-based and time-based restricted stock:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Market-based, restricted stock	$	310,152	$	324,039	$	1,273,740	$	1,370,857
Time-based, restricted stock		155,951		142,727		500,049		324,780
Total compensation expense	$	466,103	$	466,766	$	1,773,789	$	1,695,637

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, 2024
	Unrecognized Compensation Cost		Weighted Average Period (in years)
Market-based, restricted stock	$	1,168,912		1.30
Time-based, restricted stock		505,700		1.46
Total	$	1,674,612