(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 September 30, 2016, 16,045 shares have been granted under the plan, which resulted in $17,000 in compensation expense for the three months ended September 30, 2016, while $11,000 expense was recorded for the three months ended September 30, 2015. Compensation expense was $34,000 for the nine months ended September 30, 2016 compared to $19,000 for the same period in 2015. As of September 30, 2016, 2,990 restricted shares have vested, while the remaining 13,055 granted shares remain unvested.