Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes Options activity during the six months ended June 30, 2021:


(Dollars in thousands, except share amounts)	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2021	134,122	$	11.61	4.3	$	731
Granted	21,500	15.56		9.5
Exercised	(7,666)	8.94


Outstanding at June 30, 2021	147,956	$	12.32	4.7	$	1,254

Exercisable at June 30, 2021	109,046	$	10.69	3.3	$	1,097

Schedule of Fair Value Inputs, Assets, Quantitative Information

The fair value of each Option and the significant weighted average assumptions used to calculate the fair value of the Options granted during the six months ended June 30, 2021 were as follows:


	Grant Date
	January 4, 2021
Fair value of options granted	$	3.38
Risk-free rate of return	0.64		%
Expected option life in years	7
Expected volatility	28.47		%
Expected dividends	2.27		%

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes the activity in Stock Awards for the six months ended June 30, 2021:


(Dollars in thousands, except share amounts)	Number of Shares	Average Grant-Date Fair Value
Outstanding at January 1, 2021	129,883	$	12.61
Granted	39,350	18.18
Vested	(36,817)	18.26

Non-vested at June 30, 2021	132,416	$	12.70

The following table summarizes the activity in RSUs for the six months ended June 30, 2021:


(Dollars in thousands, except share amounts)	Number of Shares	Average Grant-Date Fair Value
Outstanding at January 1, 2021	25,817	$	21.24
Granted	14,250	15.56
Vested	(9,083)	16.82

Non-vested at June 30, 2021	30,984	$	19.92

1ST CONSTITUTION BANCORP 10-Q