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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation | SHARE-BASED COMPENSATIONAt September 30, 2021, Old National had 2.3 million shares remaining available for issuance under the Company’s Amended and Restated 2008 Incentive Compensation Plan. The granting of awards to key employees is typically in the form of restricted stock awards or units. Restricted Stock Awards Old National granted 0.3 million time-based restricted stock awards to certain key officers during the nine months ended September 30, 2021, with shares vesting generally over a 36 month period. At September 30, 2021, nonvested shares totaled 0.6 million. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. At September 30, 2021, unrecognized compensation expense for unvested restricted stock awards was $7.0 million. The cost is expected to be recognized over a weighted-average period of 2.0 years. Old National recorded share-based compensation expense, net of tax, related to restricted stock awards of $0.8 million during the three months ended September 30, 2021 and $2.2 million during the nine months ended September 30, 2021, compared to $0.7 million for the three months ended September 30, 2020 and $1.9 million for the nine months ended September 30, 2020. Restricted Stock Units Old National granted 0.2 million shares of performance based restricted stock units to certain key officers during the nine months ended September 30, 2021, with shares vesting at the end of a 36 month period based on the achievement of certain targets. At September 30, 2021, nonvested shares totaled 0.9 million. For certain awards, the level of performance could increase or decrease the number of shares earned. Compensation expense is recognized on a straight-line basis over the vesting period. Shares are subject to certain restrictions and risk of forfeiture by the participants. At September 30, 2021, unrecognized compensation expense was $4.8 million. The cost is expected to be recognized over a weighted-average period of 1.8 years. Old National recorded share-based compensation expense, net of tax, related to restricted stock units of $0.7 million during the three months ended September 30, 2021 and $2.0 million during the nine months ended September 30, 2021, compared to $0.6 million during the three months ended September 30, 2020 and $2.6 million for the nine months ended September 30, 2020. Stock Options and Appreciation Rights Old National has not granted stock options since 2009. However, Old National did acquire stock options and stock appreciation rights through prior year acquisitions. Old National recorded no incremental expense associated with the conversion of these options and stock appreciation rights. At September 30, 2021, 28 thousand stock appreciation rights remained outstanding.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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