WILSON BANK HOLDING CO
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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EX-13.1 · Performance-Based Vesting Restricted Stock Units ("PSUs")
Performance-Based Vesting Restricted Stock Units ("PSUs")
The Company awards performance-based restricted stock units to officers and other employees of the Bank. Under the terms of the awards, the number of units that will be earned and thereafter settled in shares of common stock will be based on the employee's performance against certain performance metrics over a fixed three-year performance period. Compensation expense for PSUs is estimated each period based on the fair value of the Company's common stock at the grant date and the most probable outcome of the performance condition, adjusted for the passage of time within the performance period of the awards.
The following tables detail the PSUs outstanding at December 31, 2023.
| Performance Stock Units Outstanding | Weighted Average Grant Date Fair Value | |
|---|---|---|
| Outstanding at December 31, 2022 | — | $— |
| Granted | 1,107 | 67.85 |
| Vested | — | — |
| Forfeited or expired | — | — |
| Outstanding at December 31, 2023 | 1,107 | $67.85 |
| Grant Year | Grant Price | Applicable Performance Period | Period in which units to be settled | PSUs Outstanding |
|---|---|---|---|---|
| 2023 | $67.85 | 2023-2025 | 2024-2026 | 1,107 |
As of December 31, 2023, there was$50,000 of total unrecognized cost related to non-vested performance based restricted share units. The cost is expected to be expensed over a weighted-average period of 2.09 years.
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