Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 35

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 35
---
 SIP to avoid dilution in the event of merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 20, 2029. At December 31, 2024, there were 364,355 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 a service period of two years to nine years.  Management recognizes compensation expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the SIP and through the Company’s restricted stock grants activity for the year ended December 31, 2024, there have been 275,758 awards granted.  During the years ended December 31, 2024 and 2023 there were 29,643 and 13,877 awards granted, respectively. During the years ended December 31, 2024 and 2023 the Company recognized $521 thousand and $568 thousand, respectively, in compensation expense for the restricted stock awards. ‎ 

83    Embassy Bancorp, Inc.  

 Information regarding the Company’s restricted stock grants activity for the years ended December 31, 2024 and 2023 are as follows:           Restricted Stock Awards  Weighted Average Grant Date Fair Value         Non-Vested at December 31, 2022 54,351  $ 14.38   Granted 13,877    18.50   Vested  (46,793)   15.48   Forfeited -   -         Non-Vested at December 31, 2023 21,435  $ 15.26   Granted 29,643    15.01   Vested  (37,632)   14.99   Forfeited -   -         Non-Vested at December 31, 2024 13,446  $ 16.99   Historically, the Company has granted stock options to purchase shares of stock to certain executive officers under individual agreements and/or in accordance with their respective employment agreements. There were no stock options granted and no outstanding options as of