Stock Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Shares Issued and Available Under Each Plans

A summary of the shares issued and available under each of the Plans is shown below as of June 30, 2024. Share data and exercise price range per share have been adjusted to reflect prior issued stock dividends. Although the 2014 Plan and the 2005 Plan have expired and no new grants will be issued under those plans, there were options issued before the plans expired that are still outstanding as shown below.

	2022 Plan			2014 Plan			2005 Plan
Aggregate shares issuable		150,000			275,625			253,575
Options issued, net of forfeited and expired    options		(44,700	)		(174,006	)		(59,870	)
Unrestricted stock issued		-			(11,635	)		-
Restricted stock grants issued, net of forfeited		(44,212	)		(83,653	)		-
Cancelled due to Plan expiration		-			(6,331	)		(193,705	)
Remaining available for grant		61,088			-			-
Stock grants issued and outstanding:
Total vested and unvested shares		44,212			95,888			-
Fully vested shares		4,733			67,054			-
Option grants issued and outstanding:
Total vested and unvested shares		44,700			169,301			-
Fully vested shares		-			129,220			-
Exercise price range	$28.82 to $33.20			$23.75 to $42.62			$	-

Summary of Stock Option Activity

Changes in the stock options outstanding related to the Plans are summarized below (dollars in thousands except per share data):

	June 30, 2024
	Number of Options			Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at January 1, 2024		174,201		$	33.94	$	-
Issued		41,300		$	28.98		-
Exercised		—		$	—
Forfeited		(1,500	)	$	35.35		-
Expired		-		$	-
Outstanding at June 30, 2024		214,001		$	32.97	$	709
Options exercisable at June 30, 2024		129,220		$	35.48	$	350

Schedule of Options Outstanding and Exercisable, by Exercise Price Range

Summary information pertaining to options outstanding at June 30, 2024 is shown below. Share and per share data have been adjusted to reflect the prior stock dividends issued.

	Options Outstanding					Options Exercisable
Exercise Price	Number of Options Outstanding		Weighted- Average Remaining Contractual Life	Weighted- Average Exercise Price		Number of Options Exercisable		Weighted- Average Exercise Price
$20.01 to $30.00		101,300	7.4 Years	$	25.85		43,800	$	24.82
$30.01 to $40.00		55,220	6.9 Years		36.00		27,940		37.51
$40.01 to $42.62		57,481	3.9 Years		42.62		57,480		42.62
Total		214,001	6.3 Years	$	32.97		129,220	$	35.48

Summary of Changes in the Restricted Stock Grants Outstanding

Changes in the restricted stock grants outstanding during the six months ended June 30, 2024 are summarized below (dollars in thousands except per share data):

	June 30, 2024
	Number of Shares			Weighted Average Grant Date Fair Value Per Share		Aggregate Intrinsic Value
Nonvested as of January 1, 2024		62,721		$	32.56	$	2,057
Issued		25,280			30.05		829
Vested		(19,688	)		31.21		(646	)
Forfeited		-			-		-
Nonvested at June 30, 2024		68,313		$	32.02	$	2,240