Company: NSTS
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026943
Chunk: 27

Company: NSTS Bancorp, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 27
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 $1.1 million over a weighted average period of 3.1 years. As of  June 30, 2025, the Company had 490,500 in outstanding stock options with a weighted average remaining life of 8.1 years outstanding. 

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   Restricted shares granted under the 2023 Equity Plan generally vest in equal annual installments over a service period of five years beginning on the date of grant. The vesting of the awards accelerates upon death, disability or following a change in control of the Company. The product of the number of shares granted and the grant date closing market price of the Company’s common stock determines the fair value of restricted shares under the 2023 Equity Plan. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period.
    
   As of  June 30, 2025, the Company has 14,018 shares of restricted stock available for future grants under the 2023 Equity Plan. 
    
   The following is a summary of the status of the Company's restricted shares as of and for the periods presented. 

     Restricted Stock   Shares    Weighted Average Grant Date Fair Value  
         
 Non-vested balance as of March 31, 2024   178,000  $9.36 
 Granted   —   — 
 Vested   35,600   9.36 
 Forfeited   —   — 
 Non-vested balance as of June 30, 2024   142,400  $9.36 
         
 Non-vested balance as of March 31, 2025   149,740  $9.57 
 Granted   —   — 
 Vested   33,260   9.36 
 Forfeited   —   — 
 Non-vested balance as of June 30, 2025   116,480  $9.63 

     Restricted Stock   Shares    Weighted Average Grant Date Fair Value  
         
 Non-vested balance as of December 31, 2023   178,000  $9.36 
 Granted   —   — 
 Vested   35,600   9.36 
 Forfeited   —   — 
 Non-vested balance as of June