The Corporation maintains the 2023 Long-Term Incentive Plan (the Plan), which replaced the expired 2013 Long-Term Incentive Plan. On April 26, 2023, the Plan was approved by shareholders at the Corporation's annual meeting.

The following is a summary of the Corporation's stock option activity and related information for the nine months ended September 30, 2023:


(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, 2023
Outstanding at December 31, 2022	294,111	$	26.11


Forfeited	(14,487)	28.35
Exercised	(6,210)	18.48
Outstanding at September 30, 2023	273,414	26.16		3.4	$	—
Exercisable at September 30, 2023	273,414	26.16		3.4	—

The Corporation did not issue stock options during the nine months ended September 30, 2023 or September 30, 2022.

The following is a summary of nonvested restricted stock units at September 30, 2023 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, 2022	408,264	$	25.57
Granted	213,429	25.04
Added by performance factor	814	19.20
Vested	(181,508)	22.21
Forfeited	(28,396)	27.20
Nonvested stock units at September 30, 2023	412,603	$	26.65

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)	2023		2022
Restricted stock units granted	213,429		184,863
Weighted average grant date fair value	$	25.04	$	28.07
Intrinsic value of units granted	$	5,345	$	5,189
Restricted stock units vested	181,508		124,167
Weighted average grant date fair value	$	22.21	$	23.53
Intrinsic value of units vested	$	4,512	$	3,519

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, 2023 is presented below:


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

Restricted stock units	$	6,844	1.9

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)	2023		2022
Stock-based compensation expense:

Restricted stock units	$	3,229	$	2,998
Employee stock purchase plan	83		78
Total	$	3,312	$	3,076
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	492	$	436