Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Activity

The following table presents the Company's total stock-based compensation expense:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Employee stock-based compensation expense
Pre-tax	$	926	$	556	$	2,872	$	1,593
Post-tax (1)		732		439		2,269		1,258
Director stock-based compensation expense
Pre-tax		121		138		379		310
Post-tax (1)		96		109		300		245

(1) The after-tax amounts are determined using the 21% corporate federal tax rate.

Schedule of Nonvested Share Activity

The following table presents certain information related to the activity of the Company's non-vested restricted common stock grants:


	Number of Restricted Shares		Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2024		606,411	$	6.23
Granted		466,672		11.48
Less: Forfeited		1,009		11.59
Less: Vested		494,793		5.29
Outstanding as of September 30, 2025		577,281	$	10.12

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted-average assumptions were used to value the stock options granted:


	2025			2024
Expected annual dividend yield		—	%		—	%
Expected volatility		88.51	%		86.92	%
Risk-free interest rate		3.87	%		4.37	%
Expected term	6 years			6 years

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity

The following table presents certain information related to the activity of the Company's stock option grants:


	Number of Stock Options		Weighted Average Exercise Prices		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (2)
Outstanding as of December 31, 2024		1,130,035	$	4.12		7.21	$	10,202,000
Granted		76,141		11.63		—		—
Less: Forfeited		—		—		—		—
Less: Expired		—		—		—		—
Less: Exercised		240,446		3.17		—		—
Outstanding as of September 30, 2025		965,730	$	4.95		6.76	$	6,514,000

Vested as of September 30, 2025 ⁽¹⁾		1,475,570	$	4.24		6.28	$	5,996,000
Exercisable as of September 30, 2025		799,869	$	4.24		6.28	$	5,996,000

(1) The vested shares are calculated based on all vested shares at September 30, 2025, inclusive of those that have since expired. The weighted average exercise prices, weighted-average remaining contractual term and aggregate intrinsic value is calculated based on only vested shares that are outstanding and exercisable at September 30, 2025.

(2) Presented in ones.

AMERICAN COASTAL INSURANCE Corp 10-Q