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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Shares Activity

The following table summarizes the changes to Peoples’ restricted common shares for the three months ended March 31, 2025:

			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, 2025			140,231			$	28.72					586,227			$	29.67
Awarded			2,069			31.39						159,097			33.41
Released			(5,316)			31.35						(141,821)			32.21
Forfeited			(7,731)			26.08						(23,799)			29.67
Outstanding at March 31, 2025			129,253			$	28.81					579,704			$	30.08

Summary of Stock-Based Compensation and Related Tax Benefit

The following table summarizes the amount of stock-based compensation expense and related tax benefit recognized for each period:

			Three Months Ended
			March 31,
(Dollars in thousands)			2025			2024
Employee stock-based compensation expense:
Stock grant expense			$	2,430		$	3,024
Employee stock purchase plan expense			45			66
Total employee stock-based compensation expense			2,475			3,090
Non-employee director stock-based compensation expense			116			138
Total stock-based compensation expense			2,591			3,228
Recognized tax benefit			(604)			(752)
Net stock-based compensation expense			$	1,987		$	2,476

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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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