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Incentive and Restricted Stock Plan and Dividend Reinvestment Plan | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
INCENTIVE AND RESTRICTED STOCK PLAN AND DIVIDEND REINVESTMENT PLAN | INCENTIVE AND RESTRICTED STOCK PLAN AND DIVIDEND REINVESTMENT PLAN The 2021 Incentive Plan provides for cash performance awards and for granting incentive stock options, nonstatutory stock options, restricted stock, restricted stock units and appreciation rights. The 2021 plan replaced and superseded the S&T Bancorp, Inc. 2014 Incentive Plan. Since the 2021 plan has been approved by our shareholders, no new awards will be granted under the 2014 plan. A maximum of 1,000,000 shares of our common stock were available for awards granted under the 2021 Incentive Plan and the plan expires ten years from the date of board approval, which occurred in May of 2021. Previously granted but forfeited shares are added to the shares available for issuance. Restricted Stock We periodically issue restricted stock to employees and directors pursuant to our 2021 Incentive Plan. Restricted stock awards are part of the compensation arrangements approved by the Compensation and Benefits Committee. Restricted shares granted under the plan consist of both time and performance-based restricted stock units. The awards are granted in accordance with performance levels set by the Compensation and Benefits Committee. Under the 2021 plan, we issued 165,711 restricted stock awards during 2024, 162,677 restricted stock awards in 2023 and 181,392 restricted stock awards in 2022. The following table provides information about restricted stock awards granted for the periods presented:
|  | December 31,
| Vesting Period | 2024 | 2023 | 2022
2021 Stock Plan |  |  |  |
Directors | One year | 15,601 |  | 17,145 |  | 16,488 |
Other Awards | Three years | 150,110 |  | 145,532 |  | 164,904 |
Total Restricted Stock Grants |  | 165,711 |  | 162,677 |  | 181,392 |
Common stock is issued as vesting restrictions lapse, which varies according to the terms of the vesting schedules in the award agreements. The vesting of time based awards is generally 1 to 3 years. The vesting of performance-based awards is based on S&T's achievement of relative return on average equity and total shareholder return, over a 3 year performance period compared to a peer group as defined in the award agreements. Restricted stock grants are forfeited if a grantee leaves S&T before the end of the vesting period except where accelerated vesting provisions are defined within the award agreements. During 2024, 2023 and 2022, we recognized compensation expense of $4.6 million, $3.9 million and $3.2 million and realized a tax benefit of $1.0 million, $0.8 million and $0.7 million related to restricted stock grants. The following table provides information about restricted stock granted under the plans for the years ended December 31:
(dollars in thousands), except per share data | Restricted Stock |  | Weighted Average Grant Date Fair Value
Non-vested at December 31, 2022 | 292,145 |  |  | $ | 25.56 |
Granted | 162,677 |  |  | 30.84 |
Vested | 91,955 |  |  | 26.92 |
Forfeited | 47,157 |  |  | 26.52 |
Non-vested at December 31, 2023 | 315,710 |  |  | $ | 27.75 |
Granted | 165,711 |  |  | 32.59 |
Vested | 95,589 |  |  | 30.77 |
Forfeited | 34,368 |  |  | 31.47 |
Non-vested at December 31, 2024 | 351,464 |  |  | $ | 31.41 |
The maximum number of shares that can be issued if performance is achieved at the maximum level is approximately 515,000 shares at December 31, 2024. As of December 31, 2024, there was $4.8 million of total unrecognized compensation cost related to restricted stock that will be recognized as compensation expense over a weighted average period of 1.78 years. Dividend Reinvestment Plan We also sponsor a Dividend Reinvestment and Stock Purchase Plan, or Dividend Plan, where shareholders may purchase shares of S&T common stock at the average fair value with reinvested dividends and voluntary cash contributions. The plan administrator and transfer agent may purchase shares directly from us from shares held in treasury or purchase shares in the open market to fulfill the Dividend Plan’s needs.

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