Quarterly report [Sections 13 or 15(d)]

Stock-based Compensation

v3.25.2
Stock-based Compensation
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Stock-based Compensation
The Company’s 2019 Omnibus Stock Incentive Plan (the “2019 Plan”) provides for granting stock options, restricted stock awards, and restricted stock units to employees, directors, contractors and consultants of the Company. On August 9, 2024, the Company's shareholders approved an amendment to the 2019 Plan that increased the share reserve of the 2019 Plan by 1,600,000 shares from 5,760,778 shares to 7,360,778 shares.
Restricted Stock Awards
The following is the restricted stock award activity for the three and six months ended June 30, 2025:
Shares Weighted Average Grant Date Fair Value
Nonvested at December 31, 2024 546,653 $ 4.72 
Granted —  — 
Vested (170,800) 4.74 
Forfeited (13,292) 13.44 
Nonvested at March 31, 2025 362,561 $ 4.39 
Granted —  — 
Vested (130,069) 5.00
Forfeited (39,585) 7.97
Nonvested at June 30, 2025 192,907  $ 2.94 
Restricted Stock Unit Awards
During 2024, the Company commenced granting restricted stock units to employees and agents.
The following is the restricted stock unit award activity for the three and six months ended June 30, 2025:
Shares Weighted Average Grant Date Fair Value
Nonvested at December 31, 2024 3,018,374 $ 3.02 
Granted 118,124 1.04 
Vested (530,347) 3.94 
Forfeited (72,841) 3.32 
Nonvested at March 31 2025 2,533,310 $ 2.71 
Granted 118,880 0.97
Vested (561,931) 2.32
Forfeited (175,048) 3.79
Nonvested at June 30, 2025 1,915,211 $ 2.46 
Stock Option Awards
The Company did not grant stock option awards during the six month period ended June 30, 2025.
Stock-based Compensation expense
Stock-based compensation expense related to all awards issued under the Company’s stock compensation plans for the three and six months ended June 30, 2025 and 2024 was as follows (amounts in thousands):
Three Months Ended
June 30,		 Six Months Ended
June 30,
2025 2024 2025 2024
Commission and service costs $ 444  $ 866  $ 1,106  $ 1,958 
General and administrative 489  1,584  1,302  3,064 
Marketing 12  49  43  129 
Total stock-based compensation $ 945  $ 2,499  $ 2,451  $ 5,151 
At June 30, 2025, the total unrecognized compensation cost related to nonvested restricted stock awards was approximately $0.3 million, which is expected to be recognized over a weighted average period of approximately fifteen months.
At June 30, 2025, the total unrecognized compensation cost related to nonvested restricted stock units was $1.3 million, which the Company expects to recognize over a weighted average period of approximately nine months.