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STOCK-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION On March 27, 2018, the stockholders of Citizens Community Bancorp, Inc. approved the 2018 Equity Incentive Plan. The aggregate number of shares of common stock reserved and available for issuance under the 2018 Equity Incentive Plan is 350,000 shares. As of March 31, 2021, 163,974 restricted shares had been granted under this plan. As of March 31, 2021, no stock options had been granted under this plan. In February 2008, the Company’s stockholders approved the Company’s 2008 Equity Incentive Plan for a term of 10 years. Due to the plan’s expiration, no new awards can be granted under this plan. As of March 31, 2021,there are 3,619 remaining unvested restricted shares and 71,700 unexercised options. Restricted shares granted under the 2008 Equity Incentive Plan were awarded at no cost to the employee and vest pro rata over a two to five-year period from the grant date. Options granted to date under this plan vest pro rata over a five-year period from the grant date. Unexercised incentive stock options expire within 10 years of the grant date. Net compensation expense related to restricted stock awards from these plans was $171 for the three months ended March 31, 2021, compared to $139 for the three months ended March 31, 2020. Restricted Common Stock Award
|  | March 31, 2021 |  | December 31, 2020
|  | Number of Shares |  | Weighted Average Grant Price |  | Number of Shares |  | Weighted Average Grant Price
Restricted Shares |  |  |  |  |  |  |  |
Unvested and outstanding at beginning of year |  | 57,242 |  |  | $ | 12.23 |  |  | 43,457 |  |  | $ | 12.76 |
Granted |  | 64,399 |  |  | 10.78 |  |  | 45,507 |  |  | 11.79 |
Vested |  | (11,413) |  |  | 12.40 |  |  | (31,722) |  |  | 12.32 |
Forfeited |  | (1,500) |  |  | 10.78 |  |  | — |  |  | — |
Unvested and outstanding at end of year |  | 108,728 |  |  | $ | 11.37 |  |  | 57,242 |  |  | $ | 12.23 |
The Company accounts for stock-based employee compensation related to the Company’s 2008 Equity Incentive Plan and 2018 Equity Incentive Plan using the fair-value-based method. Accordingly, management records compensation expense based on the value of the award as measured on the grant date and then the Company recognizes that cost over the vesting period for the award. The compensation cost recognized for stock-based employee compensation related to these plans for the three month period ended March 31, 2021 was $3. The compensation cost recognized for stock-based employee compensation related to these plans for the three month period ended March 31, 2020 was $4. Common Stock Option Awards
|  | Option Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
March, 31, 2021 |  |  |  |  |  |  |  |
Outstanding at beginning of year |  | 72,300 |  |  | $ | 11.05 |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |
Forfeited or expired |  | (600) |  |  | 13.76 |  |  |  |  |
Outstanding at end of year |  | 71,700 |  |  | $ | 11.02 |  |  | 5.23 |  |
Exercisable at end of year |  | 57,100 |  |  | $ | 10.69 |  |  | 5.06 |  | $ | 98 |
Fully vested and expected to vest |  | 71,700 |  |  | $ | 11.02 |  |  | 5.23 |  | $ | 99 |
December 31, 2020 |  |  |  |  |  |  |  |
Outstanding at beginning of year |  | 78,100 |  |  | $ | 11.18 |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |
Forfeited or expired |  | (5,800) |  |  | 11.95 |  |  |  |  |
Outstanding at end of year |  | 72,300 |  |  | $ | 11.05 |  |  | 5.49 |  |
Exercisable at end of year |  | 54,100 |  |  | $ | 10.82 |  |  | 5.37 |  | $ | 4 |
Fully vested and expected to vest |  | 72,300 |  |  | $ | 11.05 |  |  | 5.49 |  | $ | — |
Information related to the 2008 Equity Incentive Plan for the respective periods follows:
|  | Three months ended March 31, 2021 |  | Twelve months ended December 31, 2020 |  |
Intrinsic value of options exercised |  | $ | — |  |  | $ | — |  |  |
Cash received from options exercised |  | $ | — |  |  | $ | — |  |  |
Tax benefit realized from options exercised |  | $ | — |  |  | $ | — |  |  |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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