XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2012
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
3.             Stock-Based Compensation
The Company's shareholders approved the Norwood Financial Corp 2006 Stock Option Plan at the annual meeting on April 25, 2006 and the Company awarded 47,700 options in 2006, 22,000 options in 2007, 24,000 options in 2008, 27,000 options in 2009, 28,000 options in 2010 and 29,000 in 2011, all of which have a twelve month vesting period. As of March 31, 2012, there was $98,000 of total unrecognized compensation cost related to non-vested options granted in 2011 under the plan, which will be fully amortized by December 31, 2012.

A summary of stock options from all plans, adjusted for stock dividends declared, is shown below.

 
Options
  
Weighted
Average Exercise
Price
Per Share
Weighted Average
Remaining
Contractual Term
  
Aggregate
Intrinsic Value
($000)
  
                       
Outstanding at January 1, 2012
209,914
  
$
28.43
  
 6.3
 Yrs.
  
$
113
  
Granted
-
    
-
    
-
    
-
  
Exercised
           (1,625)
    
23.95
  
1.7
 Yrs.
    
-
  
Forfeited
(12,225)
  
29.65
  
5.4
 Yrs.
        
Outstanding at March 31, 2012
196,064
  
$
26.39
  
6.1
 Yrs.
  
$
85
  
                       
Exercisable at March 31, 2012
167,064
  
$
28.55
  
4.6
 Yrs.
  
$
85
  
                       

Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option.  The stock price was $26.50 as of March 31, 2012 and $27.47 as of December 31, 2011.