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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Shares Activity

The following summarizes the changes to Peoples’ outstanding restricted common shares for the year ended December 31, 2024:

			Time-Based Vesting									Performance-Based Vesting
			Number of Common Shares			Weighted-Average Grant Date Fair Value						Number of Common Shares			Weighted-Average Grant Date Fair Value
Outstanding at January 1			142,419			$	28.78					403,970			$	31.21
Awarded			29,692			30.73						283,712			27.92
Released			(21,101)			31.65						(72,825)			31.49
Forfeited			(10,779)			29.37						(28,630)			29.43
Outstanding at December 31			140,231			$	28.72					586,227			$	29.67

Summary of Stock-Based Compensation and Related Tax Benefit

The following summarizes the amount of stock-based compensation and related tax benefit recognized for the years ended December 31:

(Dollars in thousands)			2024			2023			2022
Employee stock-based compensation expense:
Restricted common share grant expense			$	6,815		$	5,336		$	3,707
Employee stock purchase plan expense			158			140			112
Total employee stock-based compensation expense			6,973			5,476			3,819
Non-employee director stock-based compensation expense			492			548			506
Total stock-based compensation expense			7,465			6,024			4,325
Recognized tax benefit			(1,740)			(1,402)			(1,007)
Net expense recognized			$	5,725		$	4,622		$	3,318

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- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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