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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | NOTE 5 - STOCK-BASED COMPENSATION On September 7, 2023, the Company adopted the ECB Bancorp, Inc. 2023 Equity Incentive Plan ("2023 Equity Plan”). The 2023 Equity Plan authorizes 1,248,133 shares of common stock for equity based compensation awards including restricted stock awards, restricted stock units, stock options, and incentive stock options. The following table summarizes the Company's stock option activities for the periods indicated:
|  | Three months ended March 31, 2025 |
|  | Outstanding and exercisable |  | Non-vested |
|  | Shares |  |  | Weighted-Average Exercise Price |  |  |  | Shares |  |  | Weighted-Average Exercise Price |
Balance at beginning of period |  |  | 146,962 |  |  | $ | 10.45 |  |  |  |  | 611,175 |  |  | $ | 10.50 |
Granted |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Balance at end of period |  |  | 146,962 |  |  | $ | 10.45 |  |  |  |  | 611,175 |  |  | $ | 10.50 |
|  | Three months ended March 31, 2024 |
|  | Outstanding and exercisable |  | Non-vested |
|  | Shares |  |  | Weighted-Average Exercise Price |  |  |  | Shares |  |  | Weighted-Average Exercise Price |
Balance at beginning of period |  |  | - |  |  | $ | - |  |  |  |  | 763,969 |  |  | $ | 10.50 |
Granted |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Forfeited or expired |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Balance at end of period |  |  | - |  |  | $ | - |  |  |  |  | 763,969 |  |  | $ | 10.50 |
The restricted stock awards are measured based on grant-date fair value, which reflects the closing price of our stock on the date of grant. All of the restricted stock awards which have been granted to date vest over five years in equal portions beginning on the first anniversary date of the restricted stock award. The following table represents information regarding non-vested restricted stock award activities for the periods indicated:
|  | Three Months Ended |
|  | March 31, 2025 |
|  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value Per Share |
Balance at beginning of period |  |  | 245,766 |  |  | $ | 10.51 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Balance at end of period |  |  | 245,766 |  |  | $ | 10.51 |
|  | Three Months Ended |
|  | March 31, 2024 |
|  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value Per Share |
Balance at beginning of period |  |  | 305,957 |  |  | $ | 10.50 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Balance at end of period |  |  | 305,957 |  |  | $ | 10.50 |
The following table represents the compensation expense and income tax benefits recognized for stock options and restricted stock awards for the periods indicated:
|  | Three months ended |  |  | Three months ended |  |
|  | March 31, 2025 |  |  | March 31, 2024 |  |
|  | (in thousands)
Stock-based compensation expense |  |  |  |  |  |  |
Stock options |  | $ | 163 |  |  | $ | 164 |  |
Restricted stock awards |  |  | 159 |  |  |  | 160 |  |
Total stock-based compensation expense |  | $ | 322 |  |  | $ | 324 |  |
Related tax benefits recognized in earnings |  | $ | 70 |  |  | $ | 69 |  |
The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of the periods indicated:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Amount |  |  | Weighted average period |  |  | Amount |  |  | Weighted average period |
|  | (Dollars in thousands) |
Stock options |  | $ | 2,338 |  |  |  | 3.55 |  |  | $ | 2,501 |  |  |  | 3.80 |
Restricted stock awards |  |  | 2,290 |  |  |  | 3.55 |  |  |  | 2,449 |  |  |  | 3.80 |
Total |  | $ | 4,628 |  |  |  |  |  | $ | 4,950 |  |  |  |

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