v3.26.1
STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION
NOTE 10. STOCK-BASED COMPENSATION
Changes in Busey’s outstanding equity awards are presented in the tables below:
RSU Awards
PSU Awards1
DSU Awards
Nonvested at December 31, 2025
1,320,537 525,501 41,218
Granted
287,101 279,148 34,655
Dividend equivalents earned
22,856 1,877 4,163
Vested
(615,849)(43,283)(45,043)
Forfeited
(94,764)(53,944)—
Nonvested at June 30, 2026
919,881 709,299 34,993
 
Vested and outstanding at June 30, 2026
— — 191,118
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1.Represents target shares at the grant date.
Options
SSARs
Outstanding at December 31, 2025
15,106 270,398 
Exercised
(5,720)(140,232)
Forfeited
— (1,430)
Expired
(2,640)— 
Outstanding at June 30, 2026
6,746 128,736 
 
Exercisable at June 30, 2026
6,746 113,328 
2020 Equity Plan
On May 20, 2020, the 2020 Equity Plan was approved by stockholders at the 2020 Annual Meeting of Stockholders. A description of the 2020 Equity Plan, as originally approved, can be found in Appendix A within First Busey’s Proxy Statement for the 2020 Annual Meeting of Stockholders filed on April 9, 2020. The 2020 Equity Plan has been amended twice, as follows:
•On May 24, 2023, an amendment and restatement of the 2020 Equity Plan was approved by stockholders at the 2023 Annual Meeting of Stockholders. Terms of the amended and restated 2020 Equity Plan remained substantially identical to those of the originally approved 2020 Equity Plan, other than a 1,350,000 increase in the number of shares authorized for issuance under the 2020 Equity Plan. More information can be found in Appendix A within First Busey’s Proxy Statement for the 2023 Annual Meeting of Stockholders filed on April 14, 2023.
•On May 20, 2026, a second amendment and restatement of the 2020 Equity Plan was approved by stockholders at the 2026 Annual Meeting of Stockholders. Terms of the second amended and restated 2020 Equity Plan are substantially identical to those of the originally approved 2020 Equity Plan, as first amended and restated on May 24, 2023, other than an increase of 2,100,000 in the number of shares authorized for issuance under the 2020 Equity Plan. More information can be found in Appendix A within First Busey’s Revised Proxy Statement for the 2026 Annual Meeting of Stockholders filed on April 13, 2026.
Shares remaining available for issuance under Busey’s equity compensation plans as of June 30, 2026, are set forth in the table below:
PlanShares Remaining
Available for Issuance
Pursuant to the Plan
2020 Equity Plan2,283,484
ESPP236,152
Stock-based Compensation Expense
Busey recognized compensation expense related to non-vested equity awards as summarized in the table below:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Stock-based compensation expense
Salaries and employee benefits1
$2,441 $5,213 $6,371 $8,430 
Other noninterest expense2
123 220 329 397 
Total stock-based compensation expense
$2,564 $5,433 $6,700 $8,827 
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1.Includes expenses for RSUs, PSUs, SSARs, and the ESPP.
2.Represents expenses for DSU awards.
Unamortized compensation expense related to non-vested equity awards is summarized in the table below:
As of
(dollars in thousands)June 30,
2026		December 31,
2025
Unamortized stock-based compensation
$22,677 $15,309 
Weighted average period over which expense is to be recognized on awards issued under Busey's 2020 Equity Plan
2.1 years
1.8 years
Weighted average period over which expense is to be recognized on CrossFirst replacement awards
11 months
1.2 years