Annual report [Section 13 and 15(d), not S-K Item 405]

STOCK-BASED COMPENSATION (Tables)

v3.26.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Pricing

 

 

Options Issued For the Year Ended December 31, 2025

 

Options Issued For the Year Ended December 31, 2024

Dividend yield

 

0%

 

0%

Expected volatility

 

67.07% - 67.07%

 

61.62% - 62.71%

Risk-free interest rate

 

4.38% - 4.38%

 

4.17% - 4.56%

Expected life (years)

 

5.0

 

5.0

 

 

Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding -- December 31, 2024

 

 

1,575,001

 

 

$

2.43

 

 

 

3.1

 

 

$

1,144,030

 

Granted

 

30,000

 

 

 

2.77

 

 

 

 

 

 

 

Exercised

 

 

(140,000

)

 

 

1.25

 

 

 

 

 

 

 

Forfeited or expired

 

 

(220,000

)

 

 

3.92

 

 

 

 

 

 

 

Outstanding -- December 31, 2025

 

 

1,245,001

 

 

$

2.30

 

 

 

2.6

 

 

$

1,016,320

 

Exercisable -- December 31, 2025

 

 

713,333

 

 

$

2.73

 

 

 

2.2

 

 

$

412,532

 

 

Summary of Unvested Stock Option Activity

A summary of unvested stock option activity is as follows:

 

 

 

Common
Stock
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value

 

Unvested – December 31, 2024

 

 

856,675

 

 

$

1.91

 

 

 

3.9

 

 

$

832,340

 

Granted

 

 

30,000

 

 

 

2.77

 

 

 

 

 

 

 

Vested

 

 

(348,340

)

 

 

2.23

 

 

 

 

 

 

 

Forfeited

 

 

(6,667

)

 

 

4.05

 

 

 

 

 

 

 

Unvested - December 31, 2025

 

 

531,668

 

 

$

1.72

 

 

 

3.2

 

 

$

603,788