Page 41 - Annual Report 2017

TEXAS GULF BANCSHARES, INC. AND SUBSIDIARY

Notes to Consolidated Financial Statements
December 31, 2016 and 2015

NOTE N STOCK OPTION PLANS (CONTINUED)

Below is a table that sets forth pertinent information regarding Company stock options for the
periods ended December 31, 2016 and 2015.

2016 2015
Weighted Weighted
# Shares of Average # Shares of Average
Underlying Exercise Underlying Exercise
Options Prices Options Prices

Outstanding at beginning of year 65,167 $ 99.40 64,167 $ 97.83
Granted - $ - 2,000 $ 150.00
Exercised - $ - (1,000) $ 100.00
Outstanding at end of year 65,167 $ 99.40 65,167 $ 99.40
Exercisable at end of the year 57,513 $ 96.52 53,590 $ 95.09

Unvested at end of the year 7,654 $ 121.02 11,577 $ 119.31

The following table summarizes information about stock options outstanding at December 31,
2016:

Options Outstanding Options Exercisable
Weighted
Intrinsic Average Weighted Intrinsic
Value Remaining Average Value
Exercise Number per Contractual Number Exercise per
Price Outstanding Option Life Outstanding Prices Option

$ 85.00 28,211 $ 65.00 1.36 years 28,211 $ 85.00 $ 65.00
$ 100.00 24,956 $ 50.00 3.94 years 20,956 $ 100.00 $ 50.00
$ 110.00 3,500 $ 40.00 2.90 years 3,500 $ 110.00 $ 40.00
$ 137.50 4,500 $ 12.50 5.77 years 4,000 $ 137.50 $ 12.50
$ 140.00 2,000 $ 10.00 7.04 years 446 $ 140.00 $ 10.00
$ 150.00 2,000 $ - 8.04 years 400 $ 150.00 $ -

65,167 3.03 years 57,513

The total intrinsic value at grant date for all options outstanding at December 31, 2016 is
$3,297,765 of which $3,075,975 is attributable to vested options. There were no options
exercised during 2016. The intrinsic value of options exercised during 2015 was $50,000.

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