Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 1006

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 3
Chunk 1006
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14.90  
     —  
     — 
  
    Outstanding on December 31, 2024 
     45,000  
    $11.72  
     1.2 years  
    $49 

    Exercisable on December 31, 2024 
     38,800  
    $11.41  
     0.6 years  
    $49 

A summary of restricted stock activity for
the year ended December 31, 2024, is presented below:

Schedule of Non-Vested Restricted Stock Activity

    Shares  
    Weighted- Average Grant Date Fair Value  
    Average Remaining  Contractual Term 
  
    Non-vested on January 1, 2024 
     13,400  
    $12.97  
     3.9 years 
  
    Granted 
     —  
     —  
     — 
  
    Vested 
     (8,700) 
     8.44  
     — 
  
    Forfeited 
     —  
     —  
     — 
  
    Non-vested on December 31, 2024 
     4,700  
    $12.91  
     3.0 years 

    115

A summary of performance restricted stock
unit activity for the year ended December 31, 2024, is presented below:

Schedule of Performance Restricted Stock
Unit Activity

    Shares  
    Weighted- Average Grant Date Fair Value  
    Average Remaining  Contractual Term 
  
    Non-vested on January 1, 2024 
     —  
    $—  
     — 
  
    Granted 
     346,200  
     11.81  
     3.0 years 
  
    Vested 
     51,100  
     11.81  
     — 
  
    Forfeited 
     —  
     —  
     — 
  
    Non-vested on December 31, 2024 
     295,100  
    $11.81  
     3.0 years 

The average remaining contractual
term does not include those units with performance conditions that are not deemed probable to achieve as of December 31, 2024.

As of December