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Note 5 - Share-based Compensation and Employee Benefit Plan | 3 Months Ended
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Mar. 31, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 5: Share-Based Compensation and Employee Benefit Plan The Company maintains the Patriot National Bancorp, Inc. 2012 Stock Plan (the “Plan”) to provide an incentive to directors and employees of the Company by the grant of restricted stock awards (“RSA”), options, or phantom stock units. Since 2013, the Company’s practice is to grant RSAs; as of March 31, 2017 and December 31, 2016, there are no options or phantom stock units outstanding or that have been exercised. The Plan provides for the issuance of up to 3,000,000 shares of the Company’s common stock subject to certain limitations. As of March 31, 2017, 2,885,516 shares of stock are available for issuance under the Plan. In accordance with the terms of the Plan, the vesting of RSAs and options may be accelerated at the discretion of the Compensation Committee of the Board of Directors. The Compensation Committee sets the terms and conditions applicable to the vesting of RSAs and stock option grants. RSAs granted to directors and employees generally vest in quarterly or annual installments over a three, four or five year period from the date of grant. During the three months ended March 31, 2017, the Company did not grant any RSAs to directors and employees. During the three months ended March 31, 2016, the Company granted 52,200 restricted shares to employees and 5,884 restricted shares to directors, respectively. During the three months ended March 31, 2017, 2,231 shares of restricted stock became vested. All RSAs are non- participating grants. The Company recognizes compensation expense for all director and employee share-based compensation awards on a straight-line basis over the requisite service period, which is equal to the vesting schedule of each award, for each vesting portion of an award equal to its grant date fair value. For the three months ended March 31, 2017 and March 31, 2016, the Company recognized share-based compensation expense of $43,000 and $154,000, respectively. For the three months ended March 31, 2017 and March 31, 2016, share-based compensation attributable to employees of Patriot amounted to $28,000 and $140,000, respectively. Included in share-based compensation expense for the three months ended March 31, 2017 and March 31, 2016 were $15,000 and $14,000 attributable to Patriot’s external Directors, who received total compensation of $69,000 and $72,000 for each of those periods, respectively, which amounts are included in Other Operating Expenses in the Consolidated Statements of Operations. The following is a summary of the status of the Company’s restricted shares as of March 31, 2017 and 2016 and changes therein during the periods indicated:
Three months ended March 31, 2017: |  | Number of Shares Awarded |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2016 |  |  | 35,264 |  |  | $ | 12.84 |
Vested |  |  | (2,231 | ) |  | $ | (13.03 | )
Unvested at March 31, 2017 |  |  | 33,033 |  |  | $ | 12.55 |
Three months ended March 31, 2016: |  |  |  |  |  |  |  |
Unvested at December 31, 2015 |  |  | 55,854 |  |  | $ | 12.83 |
Granted |  |  | 58,084 |  |  | $ | 15.25 |
Unvested at March 31, 2016 |  |  | 113,938 |  |  | $ | 14.06 |
Compensation expense attributable to the unvested restricted shares outstanding as of March 31, 2017 amounts to $412,000, which amount is expected to be recognized over the weighted average remaining life of the awards of 2.7 years. RSA Grant - Non-executive Employees On January 4, 2016, the Company granted 100 restricted shares of common stock to each of eighty - seven full- and part-time non-executive employees as of December 31, 2015. The total number of shares granted was 8,700 at a grant date fair value of $15.50 per share, resulting in expected future employee compensation of $135,000. The shares granted vest in three -years on January 2, 2019 and are non-participating during the vesting period. During the three months ended March 31, 2017, none of the shares granted were forfeited. The remaining 6,900 shares continue to vest and $71,000 of compensation expense is expected to be recognized through the January 2019 vesting date. The Company offers a 401K retirement plan (the “401K”), which provides for tax-deferred salary deductions for eligible employees. Employees may choose to make voluntary contributions to the 401K, limited to an annual maximum amount as set forth periodically by the Internal Revenue Service. The Company matches 50% of such contributions, up to a maximum of six percent. During the three months ended March 31, 2017 and March 31, 2016, compensation expense under the 401K aggregated $34,000 and $43,000, respectively.

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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 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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