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Share-Based Compensation and Other Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Changes in Nonvested Restricted Stock Awards | A summary of changes in our nonvested shares for the year follows:
(shares in thousands) | Shares | Weighted Average Grant-Date Fair Value
Year Ended December 31, 2022 |  |
Unvested balance at beginning of period | 554 |  | $16.16 |
Granted during the year (1) | 1,916 |  | 18.12 |
Vested during the year | (453) |  | 17.29 |
Forfeited during the year | (148) |  | 17.88 |
Unvested balance at end of period | 1,869 |  | $17.76 |
(1)In connection with the First Midwest merger, each restricted stock award of First Midwest common stock that was outstanding, unvested, and unsettled at the merger date was assumed and converted into a number of Old National restricted stock relating to a number of shares of Old National common stock equal to the number of First Midwest restricted stock multiplied by the exchange ratio (rounded up to the nearest whole number) subject to the same vesting terms and conditions, resulting in an issuance of an aggregate 0.9 million restricted stock awards of Old National common stock.
Summary of Changes in Nonvested Restricted Shares | A summary of changes in our unvested shares for the year follows:
(shares in thousands) | Shares | Weighted Average Grant-Date Fair Value
Year Ended December 31, 2022 |  |
Unvested balance at beginning of period | 886 |  | $14.80 |
Granted during the year (1) | 1,935 |  | 17.66 |
Vested during the year | (720) |  | 15.41 |
Forfeited during the year | (73) |  | 16.73 |
Dividend equivalents adjustment | 53 |  | 16.82 |
Unvested balance at end of period | 2,081 |  | $17.23 |
(1)In connection with the First Midwest merger, each performance-based restricted stock unit award of First Midwest that was outstanding, unvested, and unsettled at the merger date was assumed and converted into a time-based restricted stock unit award of Old National common stock subject to the same vesting terms and conditions (other than performance conditions), resulting in an issuance of an aggregate 0.7 million restricted stock units of Old National common stock. The performance components of the First Midwest equity awards were deemed earned at target.
Summary of Activity in Stock Option Plan | A summary of the activity in stock appreciation rights in 2022 follows:
(shares in thousands) | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term in Years | Aggregate Intrinsic Value (in thousands)
Year Ended December 31, 2022 |  |  |  |
Outstanding at beginning of period | 28 |  | $4.30 |  |  |
Exercised | (22) |  | 3.95 |  |  |
Outstanding at end of period | 6 |  | $5.67 |  | 0.18 | $71.2 |
Options exercisable at end of year | 6 |  | $5.67 |  | 0.18 | $71.2 |
Schedule of Information Related to Stock Option Plan | Information related to stock option and appreciation rights follows:
| Year Ended December 31,
(dollars in thousands) | 2022 | 2021 | 2020
Intrinsic value of options/appreciation rights exercised | $ | 331 |  | $ | 171 |  | $ | 213 |
Tax benefit realized from options/appreciation rights exercises | 132 |  | 68 |  | 85 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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