Company: EMYB
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001449794-25-000020
Chunk: 12

Company: Embassy Bancorp, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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 under the SIP is 756,356. The SIP provides for appropriate adjustments in the number and kind of shares available for grant or subject to outstanding awards under the SIP to avoid dilution in the event of a merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 20, 2029. At June 30, 2025, there were 347,510 shares available for issuance under the SIP. The Company grants shares of restricted stock, under the SIP, to certain members of its Board of Directors as compensation for their services, in accordance with the Company’s Non-employee Directors Compensation program adopted in October 2010. The Company also grants restricted stock to certain officers under individual agreements with these officers. Some of these restricted stock awards vest immediately, while the remainder vest over the service period of three years to five years. Management recognizes compensation 

20  Embassy Bancorp, Inc.                                                                                                                            Notes to Consolidated Financial Statements (Unaudited) 

expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the plan and through the six months ended June 30, 2025, there have been 275,758 awards granted. There were no awards granted during the three months ended June 30, 2025 and 2024. During the three months ended June 30, 2025 and June 30, 2024, the Company recognized compensation expense for restricted stock awards of $27 thousand and $66 thousand, respectively. During the six months ended June 30, 2025 and 2024 there were 16,845 and 18,843 awards granted, respectively. During the six months ended June 30, 2025 and June 30, 2024, the Company recognized compensation expense for restricted stock awards of $326 thousand and $400 thousand, respectively. Employee Stock Purchase Plan: On January 1, 2017, the Company implemented the Embassy Bancorp, Inc. Employee Stock Purchase Plan (“ESPP”), which was approved by the Company’s shareholders at the annual meeting held on June 16, 2016. Under the ESPP, each employee of the Company and its subsidiaries who is employed on an offering date and customarily is scheduled to work at least twenty (20) hours per week and more than five (5) months in a calendar year is eligible to participate. The purchase price for shares purchased under the ESPP is 95