Restricted Stock Awards ("RSAs") have been issued to directors, officers and other management employees under the Corporation's 2024 Long-term Equity Incentive Plan, the 2019 Long-term Equity Incentive Plan, and the Equity Compensation Plan for Non-Employee Directors. Stock options were previously issued under the Corporation's equity compensation plans, including the Level One Bancorp, Inc. 2007 Stock Option Plan. The stock options had a ten-year life, became 100 percent vested over periods ranging from one year to two years and were fully exercisable when vested. Option exercise prices equaled the closing price of the Corporation's common stock on Nasdaq on the date of grant. The final outstanding stock options were exercised during the nine months ended September 30, 2026 and no stock options remained outstanding as of September 30, 2026. The RSAs issued to employees and non-employee directors provide for the issuance of shares of the Corporation's common stock at no cost to the holder and generally vest after three years. RSAs issued to employees generally vest only if the employee remains actively employed by the Corporation on the vesting date, and RSAs issued to non-employee directors generally vest only if the director remains an active board member on the vesting date. Depending on the applicable plan, RSAs either vest immediately or continue to vest following retirement, disability or death.

The Corporation’s 2024 Employee Stock Purchase Plan ("ESPP") provides eligible employees of the Corporation an opportunity to purchase shares of common stock of the Corporation through quarterly offerings financed by payroll deductions. The price of the stock to be paid by the employees shall be equal to 85 percent of the average of the closing price of the Corporation’s common stock on each trading day during the offering period. However, in no event shall such purchase price be less than the lesser of an amount equal to 85 percent of the market price of the Corporation’s stock on the offering date or an amount equal to 85 percent of the market value on the date of purchase. Common stock purchases are made quarterly and are paid through advance payroll deductions up to a calendar year maximum of $25,000.

Compensation expense related to unvested share-based awards is recorded by recognizing the unamortized grant date fair value of these awards over the remaining service periods of those awards, with no change in historical reported fair values and earnings. Awards are valued at fair value in accordance with provisions of share-based compensation guidance and are recognized on a straight-line basis over the service periods of each award. To complete the exercise of vested stock options, RSAs and ESPP options, the Corporation generally issues new shares from its authorized but unissued share pool. Share-based compensation has been recognized as a component of salaries and employee benefits expense in the accompanying Consolidated Condensed Statements of Income.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Stock and ESPP Options
Pre-tax compensation expense	$	45	$	28	$	101	$	82
Income tax expense (benefit)	—		(15)		(23)		(15)
Stock and ESPP option expense, net of income taxes	$	45	$	13	$	78	$	67
Restricted Stock Awards
Pre-tax compensation expense	$	1,919	$	1,726	$	5,397	$	4,834
Income tax expense (benefit)	(706)		(292)		(1,500)		(927)
Restricted stock awards expense, net of income taxes	$	1,213	$	1,434	$	3,897	$	3,907
Total Share-Based Compensation
Pre-tax compensation expense	$	1,964	$	1,754	$	5,498	$	4,916
Income tax expense (benefit)	(706)		(307)		(1,523)		(942)
Total share-based compensation expense, net of income taxes	$	1,258	$	1,447	$	3,975	$	3,974

The grant date fair value of ESPP options was estimated to be approximately $45,000 at the beginning of the July 1, 2026 quarterly offering period. The ESPP shares were purchased and issued during the three months ended September 30, 2026, resulting in no unrecognized compensation expense related to ESPP options at September 30, 2026.


	Number of Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2026	19,524	$	23.86


Exercised	(19,524)	$	23.86

Outstanding at September 30, 2026	—	$	—	0.00	$	—
Vested and Expected to Vest at September 30, 2026	—	$	—	0.00	$	—
Exercisable at September 30, 2026	—	$	—	0.00	$	—

Cash receipts from stock options exercised during the nine months ended September 30, 2026 and 2025 were $465,000 and $330,000, respectively. The Corporation did not have any unrecognized compensation expense related to stock options and no options remain outstanding as of September 30, 2026.