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Equity Incentive Plan (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Company's Outstanding Restricted Common Stock

The following is a summary of the Company’s outstanding restricted common shares and changes therein for the three- and nine-month periods ended September 30, 2023:

 

 

 

Three months ended

 

 

Nine Months Ended

 

 

 

September 30, 2023

 

 

September 30, 2023

 

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

 

Number of
Restricted
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Nonvested at beginning of period

 

 

88,422

 

 

$

21.98

 

 

 

70,096

 

 

$

21.88

 

Granted

 

 

 

 

 

 

 

 

47,536

 

 

 

21.85

 

Vested

 

 

 

 

 

 

 

 

(27,470

)

 

 

21.52

 

Forfeited

 

 

 

 

 

 

 

 

(1,740

)

 

 

21.74

 

Nonvested at end of period

 

 

88,422

 

 

$

21.98

 

 

 

88,422

 

 

$

21.98

 

 

The following is a summary of the status of the Company’s outstanding restricted common shares as of September 30, 2023:

 

At September 30, 2023

 

Date of Award

 

Shares

 

 

Remaining Expense

 

 

Remaining Vesting
Period (Years)

 

March 14, 2019

 

 

1,924

 

 

$

9

 

 

 

0.25

 

March 14, 2020

 

 

4,265

 

 

 

51

 

 

 

1.25

 

March 3, 2021

 

 

7,776

 

 

 

103

 

 

 

2.25

 

March 3, 2021

 

 

6,793

 

 

 

33

 

 

 

0.25

 

March 3, 2022

 

 

9,554

 

 

 

177

 

 

 

3.25

 

March 3, 2022

 

 

11,261

 

 

 

160

 

 

 

1.25

 

March 14, 2023

 

 

17,103

 

 

 

296

 

 

 

4.25

 

March 14, 2023

 

 

29,746

 

 

 

466

 

 

 

2.25

 

 

 

88,422

 

 

$

1,295

 

 

 

2.37