NOTE 17 – STOCK OPTIONS

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

NOTE 17 – STOCK OPTIONS

NOTE 17 – STOCK OPTIONS

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. The table below reflects the remaining outstanding options related to this transaction and presents a summary of the status of Salisbury's outstanding stock options:

Year ended December 31, 2022	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value
Beginning of period		25,920		$	8.52
Exercised		(25,920	)		8.52
End of period		—		$	—		0.00	$	0

Year ended December 31, 2021	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value
Beginning of period		29,430		$	8.52
Exercised		(3,510	)		8.52
End of period		25,920		$	8.52		2.00	$	491,443

The total intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of stock options exercised during the years ended December 31, 2022, 2021 and 2020 was $531 thousand, $37 thousand, and $78 thousand, respectively.