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Stock-Based Compensation
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

8. STOCK–BASED COMPENSATION

At September 30, 2024, Bancshares had one active stock-based incentive compensation plan with awards outstanding.

On March 3, 2020, Bancshares’ Board of Directors established the Prosperity Bancshares, Inc. 2020 Stock Incentive Plan (the “2020 Plan”), which was approved by Bancshares' shareholders on April 21, 2020. The 2020 Plan authorizes the issuance of up to 2,500,000 shares of common stock upon the exercise of options or pursuant to the grant or exercise, as the case may be, of other awards granted under the 2020 Plan, including incentive stock options, nonqualified stock options, stock appreciation rights, shares of restricted stock and restricted stock units. As of September 30, 2024, 422,257 shares of restricted common stock have vested and 554,547 shares of unvested restricted stock have been issued under the 2020 Plan.

As of September 30, 2024, the Company had no stock options outstanding. Stock-based compensation expense related to restricted stock was $3.1 million during the three months ended September 30, 2024 and 2023, and $9.6 million and $9.1 million during the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, there was $22.9 million of total unrecognized compensation expense related to stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.24 years.