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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2023
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 11 - 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 472,320 shares remained available for grant at March 31, 2023. The following tables provide information on stock-based compensation expense for the three months ended March 31, 2023 and 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended
​ | ​ | March 31,
(Dollars in thousands) |  | 2023 |  | 2022
Stock-based compensation expense | ​ | $ | 155 | ​ | $ | 130
Excess tax benefits related to stock-based compensation | ​ |  | 22 | ​ |  | 43
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​
(Dollars in thousands) |  | 2023 |  | 2022 |
Unrecognized stock-based compensation expense | ​ | $ | 464 | ​ | $ | 633 | ​
Weighted average period unrecognized expense is expected to be recognized | ​ |  | 1.1 | years |  | 0.9 | years
​ The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the three months ended March 31, 2023. ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023
​ | ​ | ​ | ​ | Weighted Average
​ | ​ | Number of | ​ | Grant Date
​ |  | Shares |  | Fair Value
Nonvested at beginning of period |  | 36,860 | ​ | $ | 20.15
Granted |  | 27,550 | ​ |  | 17.49
Vested |  | (29,532) | ​ |  | 20.23
Forfeited |  | — | ​ |  | —
Nonvested at end of period |  | 34,878 | ​ | $ | 17.95
​ The fair value of restricted stock awards that vested during the first three months of 2023 and 2022 was $515 thousand and $492 thousand, respectively.

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