Stock-Based Compensation

3 Months Ended

Mar. 31, 2014

3. Stock-Based Compensation

The Company’s shareholders approved the Norwood Financial Corp 2006 Stock Option Plan at the annual meeting on April 25, 2006. No awards were granted during the three month period ending March 31, 2014. As of March 31, 2014, there was $117,000 of total unrecognized compensation cost related to non-vested options granted in 2013 under the plan, which will be fully amortized by December 31, 2014.

A summary of stock options from all plans, adjusted for stock dividends declared, is shown below.



		Weighted
		Average Exercise		Weighted Average		Aggregate
		Price		Remaining		Intrinsic Value
	Options	Per Share		Contractual Term		($000)

Outstanding at January 1, 2014	219,540	$	26.64	6.1	Yrs.	$	147
Granted	-		-	-	Yrs.		-
Exercised	-		-	-	Yrs.		-
Forfeited	-		-	-	Yrs.		-
Outstanding at March 31, 2014	219,540	$	26.64	5.8	Yrs.	$	431

Exercisable at March 31, 2014	192,040	$	26.58	5.2	Yrs.	$	388

Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option. The stock price was $28.60 as of March 31, 2014 and $26.90 as of December 31, 2013.

- 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.

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