XML 22 R12.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Stock Based Compensation
 3 Months Ended
Mar. 31, 2024
Stock Based Compensation [Abstract]  
Stock Based Compensation


‎

Note 4 – Stock Based Compensation

Accounting standards require companies to recognize the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards.

At the annual meeting of shareholders held on May 15, 2018, the shareholders approved the Bank of the James Financial Group, Inc. 2018 Equity Incentive Plan (the “2018 Incentive Plan”). The 2018 Incentive Plan permits the issuance of up to 250,000 shares of common stock (as may be adjusted for stock dividends, stock splits, mergers, recapitalizations, and certain other transactions) for awards to key employees of the Company and its subsidiaries in the form of stock options, restricted stock, restricted stock units, stock awards and performance units. The Company did not make any grants or awards under the 2018 Incentive Plan in 2023 or the first quarter of 2024 and as of March 31, 2024 and 2023 there were no grants or awards outstanding under the 2018 Incentive Plan.