Company: NSTS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001437749-25-009831
Chunk: 674

Company: NSTS Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 674
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 The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The Company recognizes compensation expense for the fair values of these awards, which have graded vesting, on a straight-line basis over the requisite service period of the awards. Upon exercise of vested options, management expects to first draw on treasury stock as the source for shares. The weighted average grant date fair value of stock options granted during the year ended  December 31, 2024 was $4.38. The weighted average grant date fair value of stock options granted during the year ended  December 31, 2023 was $3.56.
    
   The following is a summary of the Company's stock option activity and related information for the periods presented.

     Stock Option   Shares    Weighted Average Exercise Price    Aggregate Intrinsic Value (1)  
             
 Options, outstanding January 1, 2023   —  $—  $— 
 Granted   465,500   9.36     
 Exercised   —   —     
 Forfeited   —   —     
 Options, outstanding December 31, 2023   465,500  $9.36  $70 
 Exercisable - End of Period   23,000  $9.36  $3 
             
 Options, outstanding January 1, 2024   465,500  $9.36  $70 
 Granted   58,000   11.34     
 Exercised   (23,000)  9.36     
 Forfeited   —   —     
 Options, outstanding December 31, 2024   500,500  $9.59  $1,106 
 Exercisable - End of Period   106,900  $9.36  $261 

   (1) Dollars in thousands. 
    
   Expected future expense relating to the non-vested options outstanding as of  December 31, 2024 is $1.3 million over a weighted average period of 3.6 years. As of  December 31, 2024, the Company had 393,600 in nonvested stock options with a weighted average remaining life of 8.6 years. 

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