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Common Stock
3 Months Ended
Mar. 31, 2016
Common Stock [Abstract]  
Common Stock

(10)         Common Stock



On May 6, 2014, the Mid Penn Bancorp, Inc. 2014 Restricted Stock Plan (the “Plan”) was approved by shareholders.  The Plan provides that awards shall not exceed, in the aggregate 100,000 shares of common stock.  Awards under the Plan are limited to employees and directors of the Company and the Bank selected by the Compensation Committee of the Board of Directors.  Current outstanding awards under the Plan require recipients to acquire specified ownership interest levels in Mid Penn in order for such award to vest, and thereby, encouraging them to contribute to the success of the company. 



Share-based compensation expense relating to restricted stock is recognized on a straight-line basis over the vesting periods of the awards and is a component of salaries and benefits expense.  As of March 31, 2016, 8,975 shares have been granted under the plan, which resulted in $8,000 in compensation expense for the three months ended March 31, 2016 and 2015.  On August 27, 2015, 875 of the granted shares vested, while the remaining granted shares remain unvested as of March 31, 2016.