Stock Compensation Plans (Notes)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Stock Compensation Plans

The West Bancorporation, Inc. 2012 Equity Incentive Plan (the 2012 Plan) was approved by the stockholders in April 2012 as a means to attract, retain and reward selected participants. The 2012 Plan is administered by the Compensation Committee of the Board of Directors, which determines the specific individuals who will be granted awards under the 2012 Plan and the type and amount of any such awards. All employees and directors of, and service providers to, the Company and its subsidiary are eligible to become participants in the 2012 Plan, except that nonemployees may not be granted incentive stock options. Under the terms of the 2012 Plan, the Company may grant a total of 800,000 shares of the Company's common stock as nonqualified and incentive stock options, stock appreciation rights and stock awards. As of December 31, 2015 and 2014, 437,022 and 564,857 shares, respectively, of the Company's common stock remained available for future awards under the 2012 Plan.

Under the 2012 Plan, the Company may grant RSU awards, as determined by the Compensation Committee, that vest upon the completion of future service requirements or specified performance criteria. All RSUs granted through December 31, 2015 under the 2012 Plan were at no cost to the participants, and the participants will not be entitled to dividends until the RSUs have vested. Each RSU entitles the participant to receive one share of common stock on the vesting date or upon the participant's termination due to death or disability, or upon a change in control of the Company if the RSUs are not fully assumed or if the RSUs are assumed and the participant's employment is terminated by the Company without cause or by the participant for good reason. If a participant terminates employment prior to the end of the continuous service period other than due to death, disability or retirement, the award is forfeited. If a participant terminates service due to retirement, the RSUs will continue to vest, subject to provisions of the 2012 Plan.

The following table includes a summary of nonvested RSU activity for the years ended December 31, 2015, 2014 and 2013.



	2015				2014				2013
			Weighted				Weighted				Weighted
			Average				Average				Average
			Grant Date				Grant Date				Grant Date
			Fair Value				Fair Value				Fair Value
(actual amounts, not in thousands)	Shares		Per Share		Shares		Per Share		Shares		Per Share
Nonvested shares, beginning balance	179,699		$	13.39	130,337		$	10.50	66,793		$	9.74
Granted	139,500		19.59		104,750		15.30		77,500		11.10
Vested	(57,366	)	13.23		(55,388	)	10.20		(13,956	)	10.17
Forfeited	—		—		—		—		—		—
Nonvested shares, ending balance	261,833		$	16.67	179,699		$	13.39	130,337		$	10.50

The fair value of restricted stock unit awards that vested during 2015 and 2014 was $1,118 and $818, respectively. Total compensation costs recorded for the RSUs were $1,166, $633, and $378 for the years ended December 31, 2015, 2014 and 2013, respectively. As of December 31, 2015, there was $3,000 of unrecognized compensation cost related to nonvested RSUs, and the weighted average period over which these remaining costs are expected to be recognized was approximately 3.1 years.