whg-20260630

000116500212/3110-Q2026Q2FALSEfalse7,1446,4620.010.0125,000,00025,000,00010,314,30510,182,5838,906,1528,904,9021,408,1521,277,6810.150.15350,0005,398,100642,000

The following table presents the total stock-based compensation expense recorded for stock-based compensation arrangements for the periods indicated (in thousands):


	Three Months Ended June 30,
	2026		2025
Service condition stock-based compensation expense			$	1,283
Performance condition stock-based compensation expense			97
Stock-based compensation expense under the Plan	—		1,380
Canadian Plan stock-based compensation expense	—		—
Total stock-based compensation expense	$	—	$	1,380

1,28397—1,380———1,38013.22.5

Restricted Stock Subject Only to a Service Condition

We calculate compensation cost for restricted stock grants by using the fair market value of our common stock at the date of grant, the number of shares issued and an adjustment for restrictions on dividends. This compensation cost is amortized on a straight-line basis over the applicable vesting period, with adjustments for forfeitures recorded as they occur.

The following table details the status and changes in our restricted stock grants subject only to a service condition for the six months ended June 30, 2026:


	Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020	396,598	$	48.31
Granted	262,373	$	27.39
Vested	(140,974)	$	53.06
Forfeited	(26,372)	$	39.72
Non-vested, June 30, 2026	491,625	$	36.25

396,59848.31262,37327.39140,97453.0626,37239.72491,62536.25

Restricted Stock Subject to Service and Performance Conditions

Under the Plan, certain key employees were provided agreements for grants of restricted shares that vest over multiple year periods subject to achieving annual performance goals established by the Compensation Committee of Westwood’s Board of Directors. Each year the Compensation Committee establishes specific goals for that year’s vesting of the restricted shares. The date that the Compensation Committee establishes annual goals is considered to be the grant date and the fair value measurement date to determine expense on the shares that are likely to vest. The vesting period ends when the Compensation Committee formally approves the performance-based restricted stock vesting based on the specific performance goals from the Company’s audited consolidated financial statements. If a portion of the performance-based restricted shares does not vest, no compensation expense is recognized for that portion and any previously recognized compensation expense related to shares that do not vest is reversed.

The following table details the status and changes in our restricted stock grants subject to service and performance conditions for the six months ended June 30, 2026:


	Shares	Weighted Average Grant Date Fair Value
Non-vested, January 1, 2020	80,975	$	49.73

Vested	(35,275)	$	55.11
Non-vested, June 30, 2026	45,700	$	45.58

80,97549.7335,27555.1145,70045.5827,4740.756,6251.3three years9,00012,00027,000100,00050,00079,0001.60.6xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pure00011650022026-01-012026-06-3000011650022025-10-2200011650022026-06-3000011650022025-12-310001165002us-gaap:AssetManagement1Member2026-04-012026-06-300001165002us-gaap:AssetManagement1Member2025-04-012025-06-300001165002us-gaap:AssetManagement1Member2026-01-012026-06-300001165002us-gaap:AssetManagement1Member2025-01-012025-06-300001165002us-gaap:FiduciaryAndTrustMember2026-04-012026-06-300001165002us-gaap:FiduciaryAndTrustMember2025-04-012025-06-300001165002us-gaap:FiduciaryAndTrustMember2026-01-012026-06-300001165002us-gaap:FiduciaryAndTrustMember2025-01-012025-06-3000011650022026-04-012026-06-3000011650022025-04-012025-06-3000011650022025-01-012025-06-3000011650022024-04-012024-06-300001165002us-gaap:CommonStockMember2026-03-310001165002us-gaap:AdditionalPaidInCapitalMember2026-03-310001165002us-gaap:TreasuryStockMember2026-03-310001165002us-gaap:RetainedEarningsMember2026-03-310001165002us-gaap:RetainedEarningsMember2026-01-012026-03-3100011650022026-03-310001165002us-gaap:RetainedEarningsMember2026-04-012026-06-300001165002us-gaap:CommonStockMember2026-04-012026-06-300001165002us-gaap:AdditionalPaidInCapitalMember2026-04-012026-06-300001165002us-gaap:CommonStockMember2026-06-300001165002us-gaap:AdditionalPaidInCapitalMember2026-06-300001165002us-gaap:TreasuryStockMember2026-06-300001165002us-gaap:RetainedEarningsMember2026-06-300001165002us-gaap:NoncontrollingInterestMember2026-06-300001165002us-gaap:CommonStockMember2025-03-310001165002us-gaap:AdditionalPaidInCapitalMember2025-03-310001165002us-gaap:TreasuryStockMember2025-03-310001165002us-gaap:RetainedEarningsMember2025-03-310001165002us-gaap:RetainedEarningsMember2025-01-012025-06-3000011650022024-03-310001165002us-gaap:RetainedEarningsMember2025-04-012025-06-300001165002us-gaap:CommonStockMember2025-04-012025-06-300001165002us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300001165002us-gaap:CommonStockMember2025-06-300001165002us-gaap:AdditionalPaidInCapitalMember2025-06-300001165002us-gaap:TreasuryStockMember2025-06-300001165002us-gaap:RetainedEarningsMember2025-06-300001165002us-gaap:NoncontrollingInterestMember2025-06-3000011650022025-06-300001165002us-gaap:CommonStockMember2025-12-310001165002us-gaap:AdditionalPaidInCapitalMember2025-12-310001165002us-gaap:TreasuryStockMember2025-12-310001165002us-gaap:RetainedEarningsMember2025-12-310001165002us-gaap:RetainedEarningsMember2025-01-012025-12-310001165002us-gaap:RetainedEarningsMember2026-01-012026-06-300001165002us-gaap:CommonStockMember2026-01-012026-06-300001165002us-gaap:AdditionalPaidInCapitalMember2026-01-012026-06-300001165002us-gaap:TreasuryStockMember2026-01-012026-06-300001165002us-gaap:CommonStockMember2024-12-310001165002us-gaap:AdditionalPaidInCapitalMember2024-12-310001165002us-gaap:TreasuryStockMember2024-12-310001165002us-gaap:RetainedEarningsMember2024-12-310001165002us-gaap:RetainedEarningsMember2024-01-012024-06-3000011650022024-12-310001165002us-gaap:CommonStockMember2025-01-012025-06-300001165002us-gaap:AdditionalPaidInCapitalMember2025-01-012025-06-300001165002us-gaap:TreasuryStockMember2025-01-012025-06-300001165002whg:InvestmentAdvisoryServicesMemberwhg:AdvisoryMember2026-04-012026-06-300001165002whg:InvestmentAdvisoryServicesMemberwhg:AdvisoryMember2025-04-012025-06-300001165002whg:InvestmentAdvisoryServicesMemberwhg:AdvisoryMember2026-01-012026-09-300001165002whg:InvestmentAdvisoryServicesMemberwhg:AdvisoryMember2025-01-012025-06-300001165002whg:MutualFundAdvisoryMemberMemberwhg:AdvisoryMember2026-04-012026-06-300001165002whg:MutualFundAdvisoryMemberMemberwhg:AdvisoryMember2025-04-012025-06-300001165002whg:MutualFundAdvisoryMemberMemberwhg:AdvisoryMember2026-01-012026-06-300001165002whg:MutualFundAdvisoryMemberMemberwhg:AdvisoryMember2025-01-012025-06-300001165002whg:PrivateWealthAdvisoryMemberwhg:AdvisoryMember2026-04-012026-06-300001165002whg:PrivateWealthAdvisoryMemberwhg:AdvisoryMember2025-04-012025-06-300001165002whg:PrivateWealthAdvisoryMemberwhg:AdvisoryMember2026-01-012026-06-300001165002whg:PrivateWealthAdvisoryMemberwhg:AdvisoryMember2025-01-012025-06-300001165002whg:TrustFeeMemberwhg:TrustMember2026-04-012026-06-300001165002whg:TrustFeeMemberwhg:TrustMember2025-04-012025-06-300001165002whg:TrustFeeMemberwhg:TrustMember2026-01-012026-06-300001165002whg:TrustFeeMemberwhg:TrustMember2025-01-012025-06-300001165002whg:OtherRevenueMiscServicesMemberwhg:AdvisoryMember2026-04-012026-06-300001165002whg:OtherRevenueMiscServicesMemberwhg:AdvisoryMember2025-04-012025-06-300001165002whg:OtherRevenueMiscServicesMemberwhg:AdvisoryMember2026-01-012026-06-300001165002whg:OtherRevenueMiscServicesMemberwhg:AdvisoryMember2025-01-012025-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:CA2026-04-012026-06-300001165002whg:TrustFeeMembercountry:CA2026-04-012026-06-300001165002whg:OtherRevenueMiscServicesMembercountry:CA2026-04-012026-06-300001165002country:CA2026-04-012026-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:US2026-04-012026-06-300001165002whg:TrustFeeMembercountry:US2026-04-012026-06-300001165002whg:OtherRevenueMiscServicesMembercountry:US2026-04-012026-06-300001165002country:US2026-04-012026-06-300001165002whg:InvestmentAdvisoryServicesMember2026-04-012026-06-300001165002whg:TrustFeeMember2026-04-012026-06-300001165002whg:OtherRevenueMiscServicesMember2026-04-012026-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:CA2025-04-012025-06-300001165002whg:TrustFeeMembercountry:CA2025-04-012025-06-300001165002whg:OtherRevenueMiscServicesMembercountry:CA2025-04-012025-06-300001165002country:CA2025-04-012025-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:US2025-04-012025-06-300001165002whg:TrustFeeMembercountry:US2025-04-012025-06-300001165002whg:OtherRevenueMiscServicesMembercountry:US2025-04-012025-06-300001165002country:US2025-04-012025-06-300001165002whg:InvestmentAdvisoryServicesMember2025-04-012025-06-300001165002whg:TrustFeeMember2025-04-012025-06-300001165002whg:OtherRevenueMiscServicesMember2025-04-012025-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:CA2026-01-012026-06-300001165002whg:TrustFeeMembercountry:CA2026-01-012026-06-300001165002whg:OtherRevenueMiscServicesMembercountry:CA2026-01-012026-06-300001165002country:CA2026-01-012026-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:US2026-01-012026-06-300001165002whg:TrustFeeMembercountry:US2026-01-012026-06-300001165002whg:OtherRevenueMiscServicesMembercountry:US2026-01-012026-06-300001165002country:US2026-01-012026-06-300001165002whg:InvestmentAdvisoryServicesMember2026-01-012026-06-300001165002whg:TrustFeeMember2026-01-012026-06-300001165002whg:OtherRevenueMiscServicesMember2026-01-012026-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:CA2025-01-012025-06-300001165002whg:TrustFeeMembercountry:CA2025-01-012025-06-300001165002whg:OtherRevenueMiscServicesMembercountry:CA2025-01-012025-06-300001165002country:CA2025-01-012025-06-300001165002whg:InvestmentAdvisoryServicesMembercountry:US2025-01-012025-06-300001165002whg:TrustFeeMembercountry:US2025-01-012025-06-300001165002whg:OtherRevenueMiscServicesMembercountry:US2025-01-012025-06-300001165002country:US2025-01-012025-06-300001165002whg:InvestmentAdvisoryServicesMember2025-01-012025-06-300001165002whg:TrustFeeMember2025-01-012025-06-300001165002whg:OtherRevenueMiscServicesMember2025-01-012025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2026-04-012026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2026-04-012026-06-300001165002us-gaap:CorporateNonSegmentMember2026-04-012026-06-300001165002us-gaap:IntersegmentEliminationMember2026-04-012026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2026-06-300001165002us-gaap:CorporateNonSegmentMember2026-06-300001165002us-gaap:IntersegmentEliminationMember2026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2025-04-012025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2025-04-012025-06-300001165002us-gaap:CorporateNonSegmentMember2025-04-012025-06-300001165002us-gaap:IntersegmentEliminationMember2025-04-012025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2025-06-300001165002us-gaap:CorporateNonSegmentMember2025-06-300001165002us-gaap:IntersegmentEliminationMember2025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2026-01-012026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2026-01-012026-06-300001165002us-gaap:CorporateNonSegmentMember2026-01-012026-06-300001165002us-gaap:IntersegmentEliminationMember2026-01-012026-06-300001165002us-gaap:OperatingSegmentsMemberwhg:AdvisoryMember2025-01-012025-06-300001165002us-gaap:OperatingSegmentsMemberwhg:TrustMember2025-01-012025-06-300001165002us-gaap:CorporateNonSegmentMember2025-01-012025-06-300001165002us-gaap:IntersegmentEliminationMember2025-01-012025-06-300001165002us-gaap:USTreasuryAndGovernmentMember2026-06-300001165002us-gaap:USTreasuryAndGovernmentMember2026-01-012026-06-300001165002us-gaap:MoneyMarketFundsMember2026-06-300001165002us-gaap:MoneyMarketFundsMember2026-01-012026-06-300001165002us-gaap:EquityFundsMember2026-06-300001165002us-gaap:EquityFundsMember2026-01-012026-06-300001165002us-gaap:EquitySecuritiesMember2026-06-300001165002us-gaap:EquitySecuritiesMember2026-01-012026-06-300001165002whg:UsGaap_EquitySecuritiesMemberMember2026-06-300001165002whg:UsGaap_EquitySecuritiesMemberMember2026-01-012026-06-300001165002us-gaap:ExchangeTradedFundsMember2026-06-300001165002us-gaap:ExchangeTradedFundsMember2026-01-012026-06-300001165002us-gaap:PrivateEquityFundsMember2026-06-300001165002us-gaap:PrivateEquityFundsMember2026-01-012026-06-300001165002us-gaap:USTreasuryAndGovernmentMember2025-12-310001165002us-gaap:USTreasuryAndGovernmentMember2025-04-012025-06-300001165002us-gaap:MoneyMarketFundsMember2025-12-310001165002us-gaap:MoneyMarketFundsMember2025-04-012025-06-300001165002us-gaap:EquityFundsMember2025-12-310001165002us-gaap:EquityFundsMember2025-04-012025-06-300001165002us-gaap:EquitySecuritiesMember2025-12-310001165002us-gaap:EquitySecuritiesMember2025-04-012025-06-300001165002whg:UsGaap_EquitySecuritiesMemberMember2025-12-310001165002whg:UsGaap_EquitySecuritiesMemberMember2025-04-012025-06-300001165002us-gaap:PrivateEquityFundsMember2025-12-310001165002us-gaap:PrivateEquityFundsMember2025-04-012025-06-300001165002whg:ZarvonaEnergyFundGPLPDomain2026-06-300001165002whg:ZarvonaEnergyFundGPLPDomain2025-12-310001165002whg:ZarvonaEnergyFundIIALPDomain2026-06-300001165002whg:ZarvonaEnergyFundIIALPDomain2025-12-310001165002whg:SalientMLPTotalReturnFundLPDomain2026-06-300001165002whg:SalientMLPTotalReturnFundLPDomain2025-12-310001165002whg:SalientMLPTotalReturnTEFundLPDomain2026-06-300001165002whg:SalientMLPTotalReturnTEFundLPDomain2025-12-310001165002whg:TotalMember2026-06-300001165002whg:TotalMember2025-12-310001165002us-gaap:FairValueInputsLevel1Member2026-06-300001165002us-gaap:FairValueInputsLevel2Member2026-06-300001165002us-gaap:FairValueInputsLevel3Member2026-06-300001165002us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2026-06-300001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel1Member2026-06-300001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel2Member2026-06-300001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel3Member2026-06-300001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2026-06-300001165002us-gaap:FairValueInputsLevel1Member2025-12-310001165002us-gaap:FairValueInputsLevel2Member2025-12-310001165002us-gaap:FairValueInputsLevel3Member2025-12-310001165002us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel1Member2025-12-310001165002us-gaap:PrivateEquityFundsMemberus-gaap:FairValueInputsLevel2Member2025-12-310001165002us-gaap:PrivateEquityFundsMember