Company: NECB
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001558370-25-002975
Chunk: 24

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-03-14
Form: 10-K
Item: Item 5
Chunk 24
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ITEM 5.MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

The common stock of the Company is traded on the Nasdaq Capital Market under the ticker symbol “NECB.”

Holders

The number of shareholders of record of the Company at March 11, 2025 was 301.

Dividends

The Company has historically paid a quarterly cash dividend to stockholders.  During the year ended December 31, 2024, the Company increased the quarterly cash dividends to $0.10 per share on March 21, 2024 and $0.15 per share on September 19, 2024 from $0.06 per share prior to 2024.  As previously disclosed, the Company’s Board of Directors also declared a one-time special cash dividend of $0.15 per share, which was paid on November 6, 2024, to shareholders of record at the close of business on October 6, 2024 and $0.18 per share, which was paid on May 31, 2022, to shareholders of record at the close of business on May 16, 2022.  

In determining the amount of any future dividends, the board of directors will take into account the Company’s financial condition and results of operations, tax considerations, capital requirements and alternative uses for capital, industry standards, and economic conditions.  

The Company cannot guarantee that it will pay continue to pay dividends or that, if paid, it will not reduce or eliminate dividends in the future.

Securities Authorized for Issuance Under Equity Compensation Plans

The following table sets forth information regarding outstanding options and shares outstanding under the Company’s previously disclosed 2022 Equity Incentive Plan at December 31, 2024:

​​​​​​​​​​(a)​​(b)​(c)​​​​​​​Numbers of Securities​​​​​​​Remaining Available​​​​​​​for Future Issuance​​Numbers of Securities to​​Weighted-Average​Under Equity​​be Issued Upon Exercise ​​Exercise Price of​Compensation Plans​    of Outstanding Options,    ​Outstanding Options,    (Excluding SecuritiesPeriod​Warrants and Rights​​Warrants and Rights​Reflected in Column (a))Equity compensation plan approved by security holders​ 842,896 $ 13.72  98,311Equ