Note 8 - Stock Compensation Plans

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

(8) STOCK COMPENSATION PLANS

Non-vested grants at December 31, 2022	1,056,937
Awarded - weighted average share price on award date was $9.38	267,000
Vested - weighted average share price on award date was $9.18	(275,221	)
Forfeited	(6,000	)
Non-vested grants at March 31, 2023	1,042,716

For the three months ended March 31, 2023 and 2022, our stock compensation was $1.2 million and $0.1 million, respectively. 

Non-vested RSU grants will vest as follows:

Vesting Year	RSUs Vesting
2023		201,000
2024		300,608
2025		541,108
		1,042,716

The outstanding RSUs have a value of $9.6 million based on the March 31, 2023 closing stock price of $9.19.

As of March 31, 2023, unrecognized stock compensation expense is $6.3 million, and we had 387,049 RSUs available for future issuance.  RSUs are not allocated earnings and losses as they are considered non-participating securities.