Quarterly report [Sections 13 or 15(d)]

Capital Stock, Stock Plans and Stock-Based Compensation (Tables)

v3.26.3
Capital Stock, Stock Plans and Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
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).

 

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:

 

    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.