Company: NSTS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001437749-25-034806
Chunk: 27

Company: NSTS Bancorp, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 27
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 Outstanding at September 30, 2024   442,500  $9.36  $438 
 Exercisable - End of Period   88,500   9.36   88 
             
 Outstanding at December 31, 2024   500,500  $9.59     
 Granted   —   —     
 Exercised   —   —     
 Forfeited   10,000   9.36     
 Outstanding at September 30, 2025   490,500  $9.59  $956 
 Exercisable - End of Period   186,800   9.36   407 

   (1) Dollars in thousands. The aggregate intrinsic value of outstanding and exercisable options at  September 30, 2025 and 2024 were calculated based on the closing market price of the Company's common stock of  September 30, 2025 and 2024 of $11.54 and $10.35, respectively, per share less the exercise price. 
    
   Expected future expense relating to the non-vested options outstanding as of  September 30, 2025 is $1.0 million over a weighted average period of 2.9 years. As of  September 30, 2025, the Company had 490,500 in outstanding stock options with a weighted average remaining life of 7.9 years outstanding. 

       24

   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  September 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