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STOCK-BASED COMPENSATION
 3 Months Ended
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, 2021December 31, 2020
Number of SharesWeighted
Average
Grant Price		Number of SharesWeighted
Average
Grant Price
Restricted Shares
Unvested and outstanding at beginning of year57,242 $12.23 43,457 $12.76 
Granted64,399 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 year108,728 $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 SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
March, 31, 2021
Outstanding at beginning of year72,300 $11.05 
Exercised— — 
Forfeited or expired(600)13.76 
Outstanding at end of year71,700 $11.02 5.23
Exercisable at end of year57,100 $10.69 5.06$98 
Fully vested and expected to vest71,700 $11.02 5.23$99 
December 31, 2020
Outstanding at beginning of year78,100 $11.18 
Exercised— — 
Forfeited or expired(5,800)11.95 
Outstanding at end of year72,300 $11.05 5.49
Exercisable at end of year54,100 $10.82 5.37$4 
Fully vested and expected to vest72,300 $11.05 5.49$— 
Information related to the 2008 Equity Incentive Plan for the respective periods follows:
   Three months ended March 31, 2021Twelve months ended December 31, 2020
Intrinsic value of options exercised$— $— 
Cash received from options exercised$— $— 
Tax benefit realized from options exercised$— $—