| Schedule of Stock-based Compensation Recognized for Stock Options |
The
following table summarizes stock-based compensation recognized for the three and nine months ended September 30, 2026, and 2025 for our
employee and director stock options (in thousands).
Schedule
of Stock-based Compensation Recognized for Stock Options
| Employee
Stock Options [Member] |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
| |
|
Three
Months Ended |
|
Nine
Months Ended |
| Stock
Options |
|
September
30, |
|
September
30, |
| |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
| Employee
Stock Options |
|
$ |
92 |
|
|
$ |
108 |
|
|
$ |
269 |
|
|
$ |
311 |
|
| Director
Stock Options |
|
|
141 |
|
|
|
107 |
|
|
|
362 |
|
|
|
286 |
|
| Total |
|
$ |
233 |
|
|
$ |
215 |
|
|
$ |
631 |
|
|
$ |
597 |
|
|
| Schedule of Stock Options Roll Forward |
The
summary of the Company’s stock option plans as of September 30, 2026, and September 30, 2025, and changes during the periods then
ended, are presented below. The Company’s plans consist of the 2017 Stock Option Plan and the 2003 Outside Directors Stock Plan:
Schedule of Stock Options Roll Forward
| |
|
Shares |
|
|
Weighted Average
Exercise Price
|
|
|
Weighted Average Remaining Contractual
Term (years)
|
|
|
Aggregate
Intrinsic Value (4)
|
|
| Options outstanding January
1, 2026 |
|
|
982,000 |
|
|
$ |
7.04 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
70,000 |
|
|
$ |
16.64 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(56,900 |
) |
|
$ |
6.33 |
|
|
|
|
|
|
$ |
388,020 |
|
| Forfeited |
|
|
(44,800 |
) |
|
$ |
5.87 |
|
|
|
|
|
|
|
|
|
| Options outstanding end of period (1) |
|
|
950,300 |
|
|
$ |
7.78 |
|
|
|
4.4 |
|
|
$ |
7,545,768 |
|
| Options exercisable at September 30, 2026
(2) |
|
|
563,500 |
|
|
$ |
7.26 |
|
|
|
4.2 |
|
|
$ |
5,099,390 |
|
| |
|
Shares |
|
|
Weighted Average
Exercise Price
|
|
|
Weighted Average Remaining Contractual
Term (years)
|
|
|
Aggregate
Intrinsic Value (4)
|
|
| Options outstanding January 1, 2025 |
|
|
1,000,900 |
|
|
$ |
6.18 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
120,000 |
|
|
$ |
11.59 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(88,700 |
) |
|
$ |
4.11 |
|
|
|
|
|
|
$ |
586,180 |
|
| Forfeited |
|
|
(17,000 |
) |
|
$ |
8.72 |
|
|
|
|
|
|
|
|
|
| Options outstanding end
of period (2) |
|
|
1,015,200 |
|
|
$ |
6.96 |
|
|
|
4.7 |
|
|
$ |
3,367,934 |
|
| Options exercisable at
September 30, 2025(3) |
|
|
455,200 |
|
|
$ |
6.50 |
|
|
|
4.5 |
|
|
$ |
1,809,173 |
|
| (1) |
|
Options with exercise
prices ranging from $3.31 to $16.64 |
| (2) |
|
Options with exercise
prices ranging from $3.31 to $12.23 |
| (3) |
|
Options with exercise
prices ranging from $3.31 to $10.20. |
| (4) |
|
The intrinsic value
of a stock option is the amount by which the market value of the underlying stock exceeds the
exercise price.
|
|