OP Bancorp
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
9 — Stock-based Compensation Plan
Note 9. Stock-Based Compensation Plan
The Company hasone stock-based compensation plan, the OP Bancorp 2021 Equity Incentive Plan ("2021 Plan") as of September 30, 2026. The Board of Directors approved the 2021 Plan, an equity incentive plan for granting stock options and restricted stock awards to key employees, officers, and non-employee directors of the Company. An aggregate of 1,500,000 shares of the Company’s common stock was authorized under the 2021 Plan. The exercise prices of stock options granted under the 2021 Plan may not be less than 100% of the fair value of the Company’s stock at the date of grant. There wereno stock options granted under the 2021 Plan as of September 30, 2026 and December 31, 2025.
Restricted stock awards issued under the 2021 Plan may or may not be subject to vesting provisions. These awards do not confer voting rights or receive dividend entitlements until the shares have vested. Stock compensation cost for the restricted stock awards are recognized based on the grant-date fair value over the vesting period.
The following table presents a summary of the activity in the Company’s restricted stock awards under the 2021 Plan for the nine months ended September 30, 2026:
| ($ in thousands, except share data) | SharesIssued | WeightedAverageGrant DateFair Value | AggregateIntrinsicValue |
|---|---|---|---|
| Outstanding (unvested), as of January 1, 2026 | 131,025 | $12.51 | $1,850 |
| Awards granted | 13,657 | 14.06 | |
| Awards vested | (49,817) | 11.76 | |
| Awards forfeited | (1,350) | 13.03 | |
| Outstanding (unvested), as of September 30, 2026 | 93,515 | $13.14 | $1,403 |
The following table presents compensation cost and the related tax benefit for the restricted stock awards under the 2021 Plan for the periods indicated:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | 2026 | 2025 |
| Stock compensation cost | $126 | $174 | $499 | $487 |
| Tax benefit realized from awards vested | — | — | 38 | 62 |
There were 1,056,625 shares available for future grants of either stock options or restricted stock awards under the 2021 Plan as of September 30, 2026. The Company had approximately $1.0 million of unrecognized compensation cost related to unvested restricted stock awards under the 2021 Plan as of September 30, 2026. The Company expects to recognize these costs over a weighted average period of 3.0 years.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.