Company: NSTS
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016849
Chunk: 26

Company: NSTS Bancorp, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 26
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 Granted   —   — 
 Vested   —   — 
 Forfeited   —   — 
 Nonvested balance as of March 31, 2024   178,000  $9.36 
         
 Nonvested balance as of December 31, 2024   151,740  $9.57 
 Granted   —   — 
 Vested   —   — 
 Forfeited   2,000   9.36 
 Nonvested balance as of March 31, 2025   149,740  $9.57 

   Expected future expense related to the non-vested restricted shares outstanding as of period end is $1.2 million over a weighted average period of 3.4 years. 
    
   The following table presents the stock based compensation expense for the periods presented. 

       Three Months Ended March 31,  
   2025    2024  
   (Dollars in thousands)  
 Stock option expense  $73  $79 
 Restricted stock expense   84   83 
 Total stock based compensation expense  $157  $162 

       24

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 March 31, 2025 and as compared to our financial condition as of December 31, 2024, and our results of operations for the three months ended March 31, 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 plans, prospects, growth and operating strategies; 

      ● 
      statements regarding the quality of our loan and