Long-Term Incentive Plan (Tables)

12 Months Ended

Dec. 31, 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 years ended December 31, 2024 and 2023 related to the Company’s market-based, time-based and performance-based restricted stock:

	Year Ended December 31,
	2024		2023
Market-based, restricted stock	$	1,624,134	$	1,722,814
Time-based, restricted stock		663,793		483,096
Total compensation expense	$	2,287,927	$	2,205,910

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 are shown in the following table:

	Unrecognized Compensation Cost		Weighted Average Period (in years)
Market-based, restricted stock	$	2,605,320		1.75
Time-based, restricted stock		1,080,882		2.02
Total	$	3,686,202

Summary Of Status And Changes In Unvested Shares Of Restricted Stock Awards

A summary of the status of, and changes in, unvested shares of restricted stock awards is presented below:

	Market-Based Unvested Restricted Awards			Weighted Average Grant-Date Fair Value		Time-Based Unvested Restricted Awards			Weighted Average Grant-Date Fair Value
Unvested shares as of December 31,    2022		705,835		$	3.55		153,224		$	5.09
Granted		669,014			4.81		419,726			3.26
Vested		(303,750	)		2.72		(147,495	)		5.17
Forfeited		-			-		(7,919	)		3.41
Unvested shares as of December 31,    2023		1,071,099		$	4.57		417,536		$	3.26
Granted		458,465			4.89		210,651			3.92
Vested		(502,608	)		4.18		(172,165	)		3.15
Forfeited		(21,962	)		4.81		(60,658	)		3.36
Unvested shares as of December 31, 2024		1,004,994		$	4.91		395,364		$	3.64