XML 57 R18.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

(11) Stock-Based Compensation

 

The Company is authorized to grant stock options, stock grants and other forms of equity-based compensation under its 2018 Equity Incentive Plan, as amended (the “Plan”). The plan has been approved by the shareholders. The Company is authorized to issue up to 1,050,000 shares of common stock under the 2018 Plan, due to an amendment to increase the number of authorized shares from 500,000 to 1,050,000 that was approved by stockholders in June 2023. At December 31, 2023, 539,320 shares remain available for grant.

 

During the year ended December 31, 2023, the Company recorded compensation expense of: (a) $274,000 with respect to 66,479 shares issued to a director and an executive officer for services performed; and (b) 216,000 with respect to 52,622 shares issued to certain employees for services performed.

 

During the year ended December 31, 2022, the Company recorded compensation expense of: (a) $275,000 with respect to 67,183 shares issued to a director and an executive officer for services performed; and (b) $97,000 with respect to 24,493 shares issued to certain employees for services performed.

 

 

OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY

 

Notes to Consolidated Financial Statements