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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 10 - Stock-Based Compensation At the 2016 annual meeting, stockholders approved the Shore Bancshares, Inc. 2016 Stock and Incentive Plan (“2016 Equity Plan”), replacing the Shore Bancshares, Inc. 2006 Stock and Incentive Plan (“2006 Equity Plan”), which expired on that date. The Company may issue shares of common stock or grant other equity-based awards pursuant to the 2016 Equity Plan. Stock-based awards granted to date generally are time-based, vest in equal installments on each anniversary of the grant date and range over a one- to five-year period of time, and, in the case of stock options, expire 10 years from the grant date. As part of the 2016 Equity Plan, a performance equity incentive award program, known as the “Long-term incentive plan” allows participating officers of the Company to earn incentive awards of performance share/restricted stock units if certain pre-determined targets are achieved at the end of a three-year performance cycle. Stock-based compensation expense based on the grant date fair value is recognized ratably over the requisite service period for all awards and reflects forfeitures as they occur. The 2016 Equity Plan originally reserved 750,000 shares of common stock for grant, and 581,822 shares remained available for grant at September 30, 2021. The following tables provide information on stock-based compensation expense for the three and nine months ended September 30, 2021 and 2020. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For Three Months Ended | ​ | For Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
(Dollars in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
Stock-based compensation expense | ​ | $ | 91 | ​ | $ | 67 | ​ | $ | 287 | ​ | $ | 190 | ​
Excess tax benefits related to stock-based compensation | ​ |  | 2 | ​ |  | — | ​ |  | 3 | ​ |  | 11 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​
(Dollars in thousands) |  | 2021 |  | 2020 |
Unrecognized stock-based compensation expense | ​ | $ | 120 | ​ | $ | 143 | ​
Weighted average period unrecognized expense is expected to be recognized | ​ |  | 0.3 | years |  | 0.5 | years
​ The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the nine months ended September 30, 2021. ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, 2021
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Grant Date
​ |  | Shares |  | Fair Value
Nonvested at beginning of period |  | 24,505 | ​ | $ | 13.78
Granted |  | 24,583 | ​ |  | 13.34
Vested |  | (18,040) | ​ |  | 13.74
Forfeited |  | (1,423) | ​ |  | 13.34
Nonvested at end of period |  | 29,625 | ​ | $ | 13.38
​ The fair value of restricted stock awards that vested during the first nine months of 2021 and 2020 was $268 thousand and $254 thousand, respectively. The following table summarizes stock option activity for the Company under the 2016 Equity Plan for the nine months ended September 30, 2021. ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, 2021
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Grant Date
​ |  | Shares |  | Exercise Price
Outstanding at beginning of period |  | 2,709 | ​ | $ | 6.64
Granted |  | — | ​ |  | —
Exercised |  | (2,009) | ​ |  | 6.64
Expired/Cancelled |  | (700) | ​ |  | 6.64
Outstanding at end of period |  | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​
Exercisable at end of period |  | — | ​ | $ | —
​ There were no stock options granted during the three and nine months ended September 30, 2021 and September 30, 2020.

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