Company: NSTS
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001437749-25-011792
Chunk: 31

Company: NSTS Bancorp, Inc.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 31
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              |       — |     |                 | — |     |           |  32,000 |
| Rodney J. True           |     |             | 32,000 |     |             |       — |     |              |       — |     |                 | — |     |           |  32,000 |

| (1) | Messrs. Bond, Ivantic and True deferred all or a portion of their cash fees into the Director Deferred Compensation Plan described below. |

| (2) | In accordance with FASB ASC Topic 718, the reported amount represents the full grant date fair value of each award. Since the 2024 awards vest at a rate of 20% per year beginning in 2025, Director Ansani did not recognize any income from the awards during 2024 but will recognize income in future years as the stock awards vest or options are exercised. The assumptions used in the calculation of these amounts are included in Note 11 to the Company’s 2024 audited financial statements. For stock option awards, amounts reported are grant date fair values computed based upon the Black-Scholes option valuation model, and the actual value, if any, that may be realized will depend on the excess of the stock price over the exercise price on the date the option is exercised. Therefore, there is no assurance that the value of an option realized by a director will be at or near the value shown above. For restricted stock awards, the amount shown reflects the aggregate grant date fair value of restricted stock awards granted to each director in 2024. |

| (3) | The amounts in this column reflect the various benefits and perquisites received. This column does not reflect perquisites and personal benefits received by our directors, the aggregate value of which is less than $10,000. |

| (4) | Ms. Ansani was elected as a director on April 18, 2024. |

| (5) | Mr. Bond served as a Director until December 21, 2024. Due to his passing, all stock awards and options became fully vested in 2024. As of March 24, 2025, no stock options have been exercised. |

Director Deferred Compensation Plan

We maintain a non-qualified unsecured director deferred compensation plan that allows directors of each of NSTS Bancorp, Inc. and North Shore Trust and Savings to elect to defer up to 100% of the retainer and monthly board fees. We establish a deferred compensation account