1 unchanged sentence
Our common stock is traded on the Nasdaq Capital Market under the symbol “BYFC.” The table below shows the high and low sale prices for our common stock during the periods indicated.
−Removed: The closing sale price for our common stock on the Nasdaq Capital Market on March 17, 2021 was $3.30 per share.
−Removed: As of March 17, 2021, we had 284 stockholders of record and 19,142,498 shares of voting common stock
−Removed: At that date, we also had 8,756,396 shares of non‑voting common stock outstanding.
−Removed: Our non‑voting common stock is not listed for trading on the Nasdaq Capital Market, but is convertible into our voting common stock in connection with
−Removed: certain sale or other transfer transactions.
+Added: The closing sale price for our common stock on the Nasdaq Capital Market on March 25, 2022
+Added: was $1.63 per share.
+Added: As of March 25, 2022, we had 11,370 stockholders of record and 45,788,946 shares of Class A voting common stock outstanding.
+Added: At that date, we also had 11,404,618 shares of Class B non‑voting common stock outstanding and
+Added: 15,768,172 shares of Class C non-voting stock outstanding.
+Added: Our non‑voting common stock is not listed for trading on the Nasdaq Capital Market, but is convertible into our voting common stock in connection with certain sale or other transfer
+Added: transactions.
In general, we may pay dividends out of funds legally available for that purpose at such times as our Board of Directors determines that dividend payments are appropriate, after considering our net income, capital
2 unchanged sentences
order to retain capital for reinvestment in the Company’s business.
−Removed: Our financial ability to pay permitted dividends is primarily dependent upon receipt of dividends from Broadway Federal.
−Removed: Broadway Federal is subject to certain requirements which may limit its ability to pay dividends
−Removed: or make other capital distributions.
−Removed: See Item 1 “Business – Regulation” and Note 15 of the Notes to Consolidated Financial Statements in Item 8 “Financial Statements and Supplementary Data” for an explanation of the impact of regulatory capital
−Removed: requirements on Broadway Federal’s ability to pay dividends.
Equity Compensation Plan Information
18 unchanged sentences
Equity compensation plans not approved by security holders:
−Removed: In February 2020 and January 2019, the Company awarded 30,930 and 42,168 shares of common stock, respectively, to its directors under the 2018 LTIP, which are fully vested.
−Removed: The Company recorded $45 thousand and $52
−Removed: thousand of compensation expense for the quarters ended March 31, 2020 and March 31, 2019, respectively, based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award.
−Removed: In February 2020 and 2019, the Company awarded 140,218 shares and 428,797 shares, of which 12,033 shares were forfeited as of December 31, 2020, respectively, of restricted stock to its officers and employees under the
−Removed: Each restricted stock award is valued based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award.
−Removed: These awarded shares of restricted stock are fully
−Removed: vested over a two-year period from their respective dates of grants.
−Removed: Stock based compensation expense is recognized on a straight-line basis over the vesting period.
−Removed: During the years ended December 31, 2020 and 2019, the Company recorded $340
−Removed: thousand and $216 thousand of stock based compensation expense related to these awards, respectively.
−Removed: As of December 31, 2020, the unrecognized compensation cost related to non-vested restricted stock awards was $154 thousand which is expected to be
−Removed: recognized over a period of 14 months.
−Removed: However, 140,218 shares scheduled to vest in February 2022 will become fully vested upon the closing of the City First Merger, which is expected to occur on April 1, 2021.
+Added: In February 2021 and 2020, the Company awarded 20,736 and 30,930 shares of common stock, respectively, to its directors under the 2018 LTIP, which are fully vested.
+Added: The Company recorded $45 thousand of compensation
+Added: expense in each of the years ended December 31, 2021 and December 31, 2020, based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award.
+Added: In July of 2021, the Company awarded 64,516 shares of common stock to its Chief Executive Officer, which are fully vested.
+Added: The company recorded $200 thousand of compensation expense for the year ended December 31, 2021
+Added: based on the fair value of the stock, which was determined using the average of the high and the low price of the stock on the date of the award.
+Added: In February 2020, the Company awarded 140,218 shares of restricted stock to its officers and employees under the 2018 LTIP.
+Added: Each restricted stock award was valued based on the fair value of the stock, which was
+Added: determined using the average of the high and the low price of the stock on the date of the award.
+Added: These awarded shares of restricted stock became fully vested on April 1, 2021, the date of the Merger and all unrecognized compensation expense was
+Added: recognized at that time.
+Added: During 2021, and 2020, the Company recorded $153 thousand and $340 thousand of stock based compensation expense related to shares awarded to employees.
+Added: As all restricted stock awarded to employees were fully vested as of
+Added: December 31, 2021, there was no remaining unrecognized compensation cost related to non-vested restricted stock awards as of December 31, 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.