Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.24.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Summarization of Restricted Stock Issued The following table summarizes the restricted stock issuances approved by Main Street’s Board of Directors under the Equity and Incentive Plan, net of shares forfeited, if any, and the remaining shares of restricted stock available for issuance as of December 31, 2023.
Restricted stock authorized under the plan 5,000,000
Less net restricted stock granted (558,807)
Restricted stock available for issuance as of December 31, 2023
 4,441,193 
These shares are granted upon appointment or election to
the board and vest on the day immediately preceding the annual meeting of stockholders following the respective grant date and are expensed over such service period.
Restricted stock authorized under the plan 300,000
Less net restricted stock granted (7,525)
Restricted stock available for issuance as of December 31, 2023
 292,475
Schedule of Summarized Restricted Stock Awards
Summarized RSA activity for the year ended December 31, 2023 is as follows:
Year Ended December 31, 2023
Number Weighted-Average Grant-Date Fair Value
Restricted Stock Awards (RSAs): of Shares ($ per share)
Non-vested, December 31, 2022
 817,401  $ 38.78 
Granted (1) 551,730  39.43 
Vested (1)(2)
 (398,914) 39.20 
Forfeited (11,992) 40.47 
Non-vested, December 31, 2023
 958,225  $ 40.48 
Aggregate intrinsic value as of December 31, 2023 (in thousands)
 $ 41,424  (3)
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(1)Restricted units generally vest over a three-year or five-year period from the grant date (as noted above).
(2)Vested shares included 151,058 shares withheld for payroll taxes paid on behalf of employees.
(3)Aggregate intrinsic value is the product of total non-vested restricted shares as of December 31, 2023 and $43.23 per share, the closing price of our common stock on December 31, 2023.