XML 26 R17.htm IDEA: XBRL DOCUMENT
v3.23.2

STOCK-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2023
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 initially reserved and available for issuance under the 2018 Equity Incentive Plan was 350,000 shares. As of June 30, 2023, 290,187 restricted shares had been granted under this plan. This amount includes 11,834 shares of performance based restricted stock granted in 2019 and issued in January 2022 upon achievement of the performance criteria and completion of the three year performance period beginning in January 2019 and ending December 31, 2021. The amount also includes 18,551 shares of performance based restricted stock granted in 2020 and issued in January 2023 upon achievement of the performance criteria and completion of the three year performance period beginning in January 2020 and ending December 31, 2022. In addition, it includes 1,119 shares of performance based restricted stock granted in 2020 and 638 shares of performance based restricted stock granted in 2021 issued in August of 2022. Both of these issuances were approved by the Compensation Committee in accordance with plan documents and were to a former employee. As of June 30, 2023, 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 June 30, 2023, there are no awarded unvested restricted shares and 54,000 awarded unexercised options remaining from the plan. 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 $166 and $382 for the three and six months ended June 30, 2023, compared to $197 and $392 for the three and six months ended June 30, 2022. Restricted Common Stock Award
|  | June 30, 2023 |  | December 31, 2022
|  | Number of Shares |  | Weighted Average Grant Price |  | Number of Shares |  | Weighted Average Grant Price
Restricted Shares |  |  |  |  |  |  |  |
Unvested and outstanding at beginning of year |  | 75,626 |  |  | $ | 12.30 |  |  | 75,630 |  |  | $ | 11.20 |
Granted |  | 50,606 |  |  | 12.36 |  |  | 43,465 |  |  | 13.99 |
Vested |  | (31,803) |  |  | 12.19 |  |  | (40,843) |  |  | 12.12 |
Forfeited |  | (2,668) |  |  | 11.37 |  |  | (2,626) |  |  | 11.04 |
Unvested and outstanding at end of period |  | 91,761 |  |  | $ | 12.40 |  |  | 75,626 |  |  | $ | 12.30 |
The Company accounts for stock option-based employee compensation related to the Company’s 2008 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 option-based employee compensation related to the 2008 plan for the three and six month periods ended June 30, 2023 was $0 as all options have vested. The compensation cost recognized for stock option-based employee compensation related to these plans for the three and six month period ended June 30, 2022 was $1 and $2, respectively. Common Stock Option Awards
|  | Option Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term in Years |  | Aggregate Intrinsic Value
June 30, 2023 |  |  |  |  |  |  |  |
Outstanding at beginning of year |  | 58,000 |  |  | $ | 11.51 |  |  |  |  |
Exercised |  | (3,000) |  |  | 9.21 |  |  |  |  |
Forfeited or expired |  | (1,000) |  |  | 13.76 |  |  |  |  |
Outstanding at end of period |  | 54,000 |  |  | $ | 11.59 |  |  | 3.34 |  | $ | — |
Exercisable at end of period |  | 54,000 |  |  | $ | 11.59 |  |  | 3.34 |  | $ | — |
December 31, 2022 |  |  |  |  |  |  |  |
Outstanding at beginning of year |  | 65,900 |  |  | $ | 11.20 |  |  |  |  |
Exercised |  | (7,900) |  |  | 8.95 |  |  |  |  |
Forfeited or expired |  | — |  |  | — |  |  |  |  |
Outstanding at end of year |  | 58,000 |  |  | $ | 11.51 |  |  | 3.73 |  | $ | 65 |
Exercisable at end of year |  | 58,000 |  |  | $ | 11.51 |  |  | 3.73 |  | $ | 65 |
Information related to the 2008 Equity Incentive Plan for the respective periods follows:
|  | Six months ended June 30, 2023 |  | Twelve months ended December 31, 2022 |  |
Intrinsic value of options exercised |  | $ | 2 |  |  | $ | 38 |  |  |
Cash received from options exercised |  | $ | 28 |  |  | $ | 71 |  |  |
Tax benefit realized from options exercised |  | $ | — |  |  | $ | — |  |  |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration