Stock-Based Compensation

9 Months Ended

Sep. 30, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Note 10: Stock-Based Compensation

A summary of the Company’s stock option activity and related information for its option plans for the nine months ended September 30, 2019 and 2018 is as follows:


	For the nine months ended
	September 30, 2019
		Weighted Average
		Exercise Price Per
	Options	Share
Outstanding at beginning of year	172,080	$	16.82
Grants	–		–
Exercised	–		–
Outstanding at quarter end	172,080	$	16.82

Exercisable at quarter end	34,416	$	16.82


	For the nine months ended
	September 30, 2018
		Weighted Average
		Exercise Price Per
	Options	Share
Outstanding at beginning of year	152,080	$	16.72
Grants	20,000		17.58
Exercised	–		–
Outstanding at quarter end	172,080	$	16.82

Exercisable at quarter end	–	$	–

The grants to senior management and directors vest over a five year period in equal annual installments, with the first installment vesting on the first anniversary date of the grant and succeeding installments on each anniversary thereafter, through 2023. Vesting will automatically accelerate in the event of a participant’s death, disability, or involuntary termination following a change in control.

The compensation expense of the awards is based on the fair value of the instruments on the date of grant. The Company recorded compensation expense in the amount of $76,000 for the three months ended September 30, 2019 and $228,000 for the nine months ended September 30, 2019. The Company recorded compensation expense in the amount of $79,000 for the three months ended September 30, 2018 and $231,000 for the nine months ended September 30, 2018.

FSB Bancorp, Inc. 10-Q