QUAINT OAK BANCORP, INC.
For the period ended Dec 31, 2025. Filed Mar 27, 2026.
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FY2025 · Filed Mar 27, 2026
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EX-13.0 · Stock Incentive Plans – Share Awards (Continued)
Stock Incentive Plans–** Share Awards (Continued)**
As of* December 31, 2025,a total of 38,000 share awards were unvested under the2018* and2023 Stock Incentive Plan andno share awards were available for future grant under the2023 Stock Incentive Plan and the2018 Stock Incentive Plan. The2018 and2023 Stock Incentive Plan share awards have vesting periods offive years.
A summary of share award activity under the Company’s2018 and2023 Stock Incentive Plans as of* December 31, 2025and changes during the year ended December 31, 2025*is as follows:
| Number of Shares | Weighted Average Grant Date Fair Value | |
|---|---|---|
| Unvested at the beginning of the period | 36,000 | $18.00 |
| Granted | 12,500 | 10.15 |
| Vested | (8,500) | 18.00 |
| Forfeited | (2,000) | 18.00 |
| Unvested at the end of the period | 38,000 | $15.42 |
Compensation expense on the share awards is recognized ratably over thefive year vesting period in an amount which is equal to the fair value of the common stock at the date of grant. During the years ended* December 31, 2025and2024* the Company recognized approximately $170,000 and $162,000 of compensation expense, respectively. During the years ended* December 31, 2025and2024,* the Company recognized a tax benefit of approximately $36,000 and$34,000, respectively. As of* December 31, 2025,*approximately $544,000 in additional compensation expense will be recognized over the remaining service period of approximately 3.5 years.
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