v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Shares Activity
The following table summarizes the changes to Peoples’ restricted common shares for the six months ended June 30, 2025:
Time-Based VestingPerformance-Based Vesting
 Number of Common SharesWeighted-Average Grant Date Fair ValueNumber of Common SharesWeighted-Average Grant Date Fair Value
Outstanding at January 1, 2025140,231 $28.72 586,227 $29.67 
Awarded11,643 26.19 159,097 33.41 
Released(36,023)31.41 (141,821)32.21 
Forfeited(10,011)27.12 (26,289)29.79 
Outstanding at June 30, 2025
105,840 $27.67 577,214 $30.07 
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 EndedSix Months Ended
June 30,June 30,
(Dollars in thousands)2025202420252024
Employee stock-based compensation expense:
Stock grant expense$1,416 $1,278 $3,846 $4,303 
Employee stock purchase plan expense26 73 71 139 
Total employee stock-based compensation expense1,442 1,351 $3,917 $4,442 
Non-employee director stock-based compensation expense131 123 $247 $261 
Total stock-based compensation expense1,573 1,474 $4,164 $4,703 
Recognized tax benefit(367)(344)(971)(1,096)
Net stock-based compensation expense$1,206 $1,130 $3,193 $3,607