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 · Time-Based Vesting Restricted Shares and Restricted Share Units
Time-Based Vesting Restricted Shares and Restricted Share Units
A summary of restricted share awards and restricted shares unit awards activity for the twelve months ended December 31, 2023 is as follows:
| Restricted Share Awards | Restricted Share Units | |||
|---|---|---|---|---|
| Shares | Weighted Average Grant-Date Fair Value | Shares | Weighted Average Grant-Date Fair Value | |
| December 31, 2022 | 1,075 | $64.03 | — | $— |
| Granted | — | — | 14,833 | 69.00 |
| Vested | (774) | 62.99 | — | — |
| Forfeited | — | — | (375) | 69.00 |
| Outstanding at December 31, 2023 | 301 | $66.70 | 14,458 | $69.00 |
The restricted shares and restricted share units vest over various time periods. As of December 31, 2023, there was$18,000 of unrecognized compensation cost related to non-vested restricted share awards. The cost is expected to be expensed over a weighted-average period of 1.88 years. As of December 31, 2023, the fair value of restricted share awards vested totaled$55,000. As of December 31, 2023, there was$805,000 of unrecognized compensation cost related to non-vested restricted share units, all of which were granted to employees of the Bank in the second quarter of 2023. The cost is expected to be expensed over a weighted-average period of 4.38 years.
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