The Corporation maintains the 2013 Long-Term Incentive Plan, which replaced the expired 2003 Long-Term Incentive Plan. In December 2018, the Corporation's Board of Directors approved an Amended and Restated Univest 2013 Long-Term Incentive Plan (the Plan) to permit the issuance of restricted stock units.

The following is a summary of the Corporation's stock option activity and related information for the nine months ended September 30, 2022:


(Dollars in thousands, except per share data)	Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at September 30, 2022
Outstanding at December 31, 2021	351,252	$	25.74

Expired	(1,500)	14.80
Forfeited	(22,707)	28.33
Exercised	(25,781)	22.33
Outstanding at September 30, 2022	301,264	25.90		4.3	$	353
Exercisable at September 30, 2022	301,264	$	25.90	4.3	$	353

The Corporation did not issue stock options during the nine months ended September 30, 2022 or September 30, 2021.

The following is a summary of nonvested restricted stock units at September 30, 2022 including changes during the nine months then ended:


(Dollars in thousands, except per share data)	Nonvested Stock Units	Weighted Average Grant Date Fair Value
Nonvested stock units at December 31, 2021	358,134	$	23.61
Granted	184,863	28.07
Cancelled by performance factor	(555)	23.18
Vested	(124,167)	23.53
Forfeited	(10,927)	25.54
Nonvested stock units at September 30, 2022	407,348	$	25.57

Certain information regarding restricted stock units is summarized below for the periods indicated:


	Nine Months Ended September 30,
(Dollars in thousands, except per share data)	2022		2021
Restricted stock units granted	184,863		155,607
Weighted average grant date fair value	$	28.07	$	27.81
Intrinsic value of units granted	$	5,189	$	4,328
Restricted stock units vested	124,167		87,075
Weighted average grant date fair value	$	23.53	$	22.71
Intrinsic value of units vested	$	3,519	$	2,391

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at September 30, 2022 is presented below:


(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)

Restricted stock units	$	6,492	2.0

The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:


	Nine Months Ended September 30,
(Dollars in thousands)	2022		2021
Stock-based compensation expense:
Stock options	$	—	$	62
Restricted stock units	2,998		2,612
Employee stock purchase plan	78		72
Total	$	3,076	$	2,746
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	436	$	389