Note 8 - Stock Compensation Plans

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

(8) STOCK COMPENSATION PLANS

Non-vested grants as of 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 vested date was $9.18	(285,221	)
Forfeited	(10,000	)
Non-vested grants as of September 30, 2023	1,028,716

For the three and nine months ended September 30, 2023, our stock compensation was $0.8 million and $2.8 million, respectively. For the three and nine months ended September 30, 2022, our stock compensation was $0.1 million and $0.2 million, respectively.  

Non-vested RSU grants will vest as follows:

Vesting Year	RSUs Vesting
2023		189,000
2024		300,608
2025		539,108
		1,028,716

The outstanding RSUs have a value of $14.8 million based on the September 30, 2023 closing stock price of $14.42.

As of September 30, 2023, unrecognized stock compensation expense is $4.7 million, and we had 395,657 RSUs available for future issuance.  RSUs are not allocated earnings and losses as they are considered non-participating securities.