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

Note 17 - Stockholders' Equity

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Note 17 - Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Equity [Text Block]

17. Stockholders’ equity

 

Preferred Stock

 

The Company is authorized to issue 5,000,000 shares of preferred stock, par value $0.01 per share. Subject to any limitations under law or the Company’s certificate of incorporation, the Company’s board of directors is authorized to provide for the issuance of the shares of preferred stock in one or more series; to establish the number of shares to be included in each series; and to fix the designation, powers, privileges, preferences, relative participating, optional or other rights (if any), and the qualifications, limitations or restrictions of the shares of each series. As of December 31, 2025 and 2024, no shares of preferred stock were issued and outstanding.

 

Common Stock

 

The Company has 200,000,000 shares of common stock authorized, of which 23,069,841 and 23,094,047 shares were issued and outstanding as of December 31, 2025 and 2024, respectively. The par value of the common stock is $0.01 per share.

 

The holders of common stock are entitled to one vote per share on all matters submitted to a vote of stockholders. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, common stockholders would be entitled to share ratably in the Company’s assets and funds remaining after payment of liabilities.

 

On  February 16, 2022, the Company's Board of Directors authorized the purchase of up to $50,000 in shares of common stock at market value (the “2022 repurchase plan”). This authorization does not have an expiration date. Repurchases under the program  may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and corporate needs. The Company  may also, from time to time, enter into Rule 10b5-1 trading plans to facilitate repurchases of its shares under this authorization. This program does not obligate the Company to acquire any particular amount of shares and the program  may be extended, modified, suspended or discontinued at any time at the Company’s discretion. Shares repurchased under the 2022 repurchase plan are retired. The Company repurchased approximately $6,000 in shares during the year ended  December 31, 2025. As of  December 31, 2025, the Company had $38,000 remaining under authorization to purchase.