Share-Based Payment Plans

12 Months Ended

Dec. 31, 2023

Share-Based Payment Plans

Share-Based Payment Plans

Note 22: Share-Based Payment Plans

Equity-based incentive awards for Company officers are currently issued pursuant to the 2017 Equity Incentive Plan (the “2017 Incentive Plan”). Additionally, the Compensation Committee of the Board of Directors approved a plan during 2018 for non-executive directors to receive a portion of their annual retainer fees in the form of shares of common stock equal to $10,000, rounded up to the nearest whole share. In January 2021, the Board of Directors amended the plan for non-executive directors to receive a portion of their annual fees, issued quarterly, in the form of restricted common stock equal to $50,000 per member, rounded up to the nearest whole share, to be effective after the Company’s annual meeting of shareholders held in May 2021.

The following chart provides equity-based incentive awards and Board of Directors fees paid in shares for the years ending December 31, 2023, 2022, and 2021.

	Year Ended December 31,
	2023		2022		2021
	($ in thousands)
Equity-based incentive awards to Company officers:
Shares issued		84,335		64,962		23,435
Expenses recognized	$	2,671	$	1,870	$	1,198
Unvested shares awarded		256,192		280,974		374,598
Unrecognized compensation costs	$	6,801	$	5,817	$	4,499
Equity-based retainer fees to non-executive Board of Directors:
Shares issued		12,173		12,443		6,870
Expenses recognized	$	351	$	325	$	188