This excerpt taken from the IBKC 8-K filed Feb 6, 2007.
1998 Recognition Plan
The 1998 Recognition and Retention Plan (RRP) provides for a committee of the Companys Board of Directors to award restricted stock to key officers as well as non-employee directors. The RRP authorizes the Company to grant up to 142,830 shares of the Companys common stock. The Committee granted 142,830 shares to key officers and non-employee directors on October 23, 1998.
Compensation expense was recognized based on the fair market value of the shares on the grant date of $9.00 over the vesting period. The shares vested equally over a five year period with the first vesting date of January 3, 2000. All expense associated with this plan has been recognized.
POCAHONTAS BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Continued)
YEARS ENDED SEPTEMBER 30, 2006, 2005, AND 2004