Quarterly report [Sections 13 or 15(d)]

RESTRICTED STOCK UNITS

v3.25.2
RESTRICTED STOCK UNITS
 6 Months Ended
Jun. 30, 2025
Restricted Stock Units  
RESTRICTED STOCK UNITS

9. RESTRICTED STOCK UNITS

 

A summary of restricted stock unit activity for the six months ended June 30, 2025 is presented below.

 

 

          Weighted-  
          Average  
          Grant Date  
    Shares     Fair Value  
             
Non-vested at January 1, 2025     198,823     $ 12.28  
Granted     410,435       5.32  
Vested/deemed vested     (240,023 )     5.66  
Forfeited     (3,574 )     19.63  
Non-vested at June 30, 2025     365,661     $ 8.74  

 

The total fair value of restricted stock units that vested or deemed vested during the six months ended June 30, 2025 was $1,358. The total stock compensation expense recognized relating to the vesting of restricted stock units for the three and six months ended June 30, 2025 and 2024 amounted to $1,412 and $104, and $2,253 and $209, respectively. As of June 30, 2025, the amount of unvested compensation related to issuances of restricted stock units was $2,482 which will be recognized as part of operating expense through January 2029.

 

See Note 15 – Subsequent Events.