Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 28

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 28
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30, 2024   142,400  $9.36 
         
 Non-vested balance as of December 31, 2024   151,740  $9.57 
 Granted   —   — 
 Vested   33,260   9.36 
 Forfeited   2,000   9.36 
 Non-vested balance as of June 30, 2025   116,480  $9.63 

   Expected future expense related to the non-vested restricted shares outstanding as of period end is $1.1 million over a weighted average period of 4.0 years. 
    
   The following table presents the stock based compensation expense for the periods presented. 

       Three Months Ended June 30,    Six months ended June 30,  
   2025    2024    2025    2024  
   (Dollars in thousands)    (Dollars in thousands)  
 Stock option expense  $87  $79  $160  $157 
 Restricted stock expense   88   83   172   167 
 Total stock based compensation expense  $175  $162  $332  $324 

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This section is intended to assist in the understanding of our financial performance through a discussion of our financial condition as of June 30, 2025 and as compared to our financial condition as of December 31, 2024, and our results of operations for the three and six months ended June 30, 2025 and 2024. This section should be read in conjunction with the unaudited interim consolidated financial statements and notes thereto appearing in Part I, Item 1 of this Quarterly Report on Form 10-Q.

Forward-Looking Statements

This filing contains forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect” and words of similar meaning. These forward-looking statements include, but are not limited to:

      ● 
      statements of our goals, intentions and expectations; 

      ● 
      statements regarding our business