Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Options Activity

Stock options are either “incentive” stock options or “nonqualified” stock options. Incentive stock options have certain tax advantages and must comply with the requirements of Section 422 of the Internal Revenue Code. The 2019 Plan was frozen such that no new awards would be granted under the 2019 Plan following receipt of shareholder approval of the LINKBANCORP, Inc. 2022 Equity Incentive Plan described within this footnote.

On May 26, 2022, the Company's shareholders approved the LINKBANCORP, Inc. 2022 Equity Incentive Plan (the "2022 Plan"). The 2022 Plan authorizes the issuance or delivery to participants of up to 475,000 shares of the Company's common stock pursuant to grants of restricted stock, restricted stock units, stock options, and non-qualified stock options. The 2022 Plan is administered by the members of LINKBANCORP’s Compensation Committee (the "Committee"). At least 95% of the awards under the 2022 Plan will vest no earlier than one year after the grant date.

The table below provides details of the Company's stock options at December 31, 2022.

	Number of Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (in ‘000s)
Outstanding, December 31, 2021		421,500		$	10.46		7.9	$	780
Granted		94,500			9.00		9.3		33
Expired/terminated		(14,000	)		11.00		8.1
Exercised		(12,000	)		10.00		—
Outstanding, December 31, 2022		490,000		$	10.11		7.1	$	33
Exercisable at period end		208,700		$	10.15		6.5	$	—

Schedule of Valuation Assumptions of Stock Options

The Company determined the expected life of the stock options using a simplified method approach allowed for plain-vanilla share options. The risk-free interest rate is based on the U.S. treasury yield curve in effect as of the grant date. Expected volatility was determined using the calculated value method of an option pricing model that substitutes the historical volatility of an appropriate industry/sector index for the expected volatility.

	December 31,
	2022		2021
Weighted average fair value of options granted	$	2.37	$	1.13
Dividend yield	3.70%		0.00%
Expected volatility	34.20%		4.36%
Risk-free interest rate	3.81%		0.08%
Expected life (in years)		6.2		7.0
Assumed forfeiture rate	8.00%		8.00%

Schedule of Additional Information Related to Stock Option

Additional information related to the stock option plan during each year follows:

	December 31,
	2022		2021
Stock-based compensation expense recognized	$	80	$	25
Number of unvested stock options		281,300		276,300
Fair value of unvested stock options	$	393	$	210
Amount remaining to be recognized as expense	$	291	$	218