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Share-Based Compensation | 12 Months Ended
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Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | Note 13. Share-Based Compensation The Company maintains the Patriot National Bancorp, Inc. 2012 Stock Plan to provide an incentive to directors and employees of the Company by the grant of options, restricted stock awards or phantom stock units. The Plan provides for the issuance of up to 3,000,000 shares of the Company’s common stock subject to certain Plan limitations. 2,552,964 shares of stock remain available for issuance under the Plan as of December 31, 2013. The vesting of restricted stock awards and options may be accelerated in accordance with terms of the plan. The Compensation Committee shall make terms and conditions applicable to the vesting of restricted stock awards and stock options. Restricted stock grants are available to directors and employees and vest in quarterly or annual installments over a three, four or five year period from the date of grant. The Compensation Committee accelerated the vesting of the initial grant of restricted stock in 2012, whereby the first year of the tranche vested immediately. The initial grant, which was awarded to the directors of the Board and accelerated, was deemed as compensation for past services. Stock options were granted at an exercise price equal to $2.20 based on a price determined by the Compensation Committee and all had an expiration period of 10 years. The fair value of stock options granted on January 24, 2012, was estimated utilizing the Black-Scholes option pricing model using the following assumptions: an expected life of 6.28 years utilizing the simplified method, risk-free rate of return of 1.28%, volatility of 61.29% and no dividend yield. The Company was expensing the grant date fair value of all share-based compensation over the requisite vesting periods on a straight-line basis. As of December 31, 2013, there were no outstanding stock options. For the years ended December 31, 2013, 2012 and 2011, the Company recorded $130,686, $306,421 and $0 of total stock-based compensation, respectively. During 2013, the Company awarded 294,861 shares of restricted stock to employees, there were no shares of restricted stock issued to directors and no options were granted or exercised. In 2012, there were no options exercised and 152,169 shares of restricted stock were issued to directors in payment of directors’ fees in the net amount of $120,397. There were no awards in 2011. The following table is a summary of the Company’s non-vested stock options as of December 31, 2013, and changes therein during the year then ended:
|  | Number of Stock Options |  |  | Weighted Average Grant Date Fair Value |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Life (years) |
Outstanding—December 31, 2011 |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  | — |
Granted |  |  | 850,000 |  |  |  | 0.90 |  |  |  | 2.20 |  |  |  | 10 |
Outstanding—December 31, 2012 |  |  | 850,000 |  |  |  | 0.90 |  |  |  | 2.20 |  |  |  | 10 |
Forfeited |  |  | (850,000 | ) |  |  | 0.90 |  |  |  | 2.20 |  |  |  | 10 |
Outstanding—December 31, 2013 |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  | — |
Exercisable—December 31, 2013 |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  | — |
The following is a summary of the status of the Company’s restricted shares as of December 31, 2013, and changes therein during the period then ended.
|  | Number of Shares Awarded |  |  | Weighted Average Grant Date Fair Value |
Non-vested at December 31, 2011 |  |  | — |  |  | $ | — |
2012 Granted |  |  | 152,169 |  |  |  | 1.69 |
Vested |  |  | (72,821 | ) |  |  | 1.65 |
Forfeited |  |  | (34,782 | ) |  |  | 1.73 |
Non-vested at December 31, 2012 |  |  | 44,566 |  |  | $ | 1.73 |
2013 Granted |  |  | 329,649 |  |  |  | 1.24 |
Vested |  |  | (92,380 | ) |  |  | 1.41 |
Forfeited |  |  | — |  |  |  | — |
Non-vested at December 31, 2013 |  |  | 281,835 |  |  | $ | 1.26 |
Expected future stock award expense related to the non-vested restricted awards as of December 31, 2013, is $356,190 over an average period of 2.88 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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