Note 7 - Stock Compensation Plans |
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| Share-Based Payment Arrangement [Text Block] |
Note 7. Stock Compensation Plans
Stock awards and restricted stock units (RSUs) are both issued under the FNC 2023 Stock Incentive Plan. Awards are made at the discretion of the Board of Directors and compensation cost equal to the fair value of the award is recognized over the vesting period.
Stock Awards
Whenever the Company deems it appropriate to grant a stock award, the recipient receives a specified number of unrestricted shares of employer stock. Stock awards may be made by the Company at its discretion without cash consideration and may be granted as settlement of a performance-based compensation award.
There was no compensation expense related to stock awards for the three months ended March 31, 2026 and 2025.
Restricted Stock Units
RSUs are awards of units that correspond to a specified number of shares of Company stock which the recipient receives according to a vesting plan and distribution schedule after achieving required performance milestones or upon remaining with the Company for a particular length of time. Each RSU that vests entitles the recipient to receive one share of common stock on a specified issuance date.
During the first quarter of 2026, 29,744 RSUs were granted to employees, with 5,084 units vesting on February 15, 2026, and 24,660 units subject to a -year vesting schedule. The recipient does not have any stockholder rights, including voting, dividend, or liquidation rights, with respect to the shares underlying awarded RSUs until vesting has occurred and the recipient becomes the record holder of those shares. The unvested RSUs will vest on the established schedule if the employees remain employed by the Company on future vesting dates.
A summary of the activity for the Company’s RSUs for the period indicated is presented in the following table:
The total unrecognized pre-tax compensation expense related to unvested RSU awards was $1.6 million at March 31, 2026 and $1.1 million at March 31, 2025. This expense is expected to be recognized through 2031. Compensation expense related to RSU awards recognized for the three months ended March 31, 2026 and 2025 totaled $338 thousand and $265 thousand, respectively.
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