Stock-Based Compensation (Tables)

The following table summarizes the changes to Peoples' stock options for the six months ended June 30, 2015:



	Number of Common Shares Subject to Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at January 1	38,577	$	28.09
Expired	14,880	27.04
Outstanding at June 30	23,697	$	28.75	0.7	$	—
Exercisable at June 30	23,697	$	28.75	0.7	$	—

The following table summarizes the changes to Peoples' SARs for the six months ended June 30, 2015:



	Number of Common Shares Subject to SARs	Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at January 1	21,292	$	25.96
Outstanding at June 30	21,292	$	25.96	1.9	$	160
Exercisable at June 30	21,292	$	25.96	1.9	$	160

The following table summarizes the changes to Peoples’ restricted common shares for the six months ended June 30, 2015:



	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	47,591	$	19.48	125,079	$	21.73
Awarded	5,600	23.19		107,961	23.63
Released	24,045	15.78		49,058	21.74
Forfeited	500	15.64		2,217	21.84
Outstanding at June 30	28,646	$	23.37	181,765	$	22.85

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



	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in thousands)	2015			2014			2015			2014
Total stock-based compensation	$	461		$	464		$	1,026		$	954
Recognized tax benefit	(161		)	(162		)	(359		)	(334		)
Net expense recognized	$	300		$	302		$	667		$	620

The following table summarizes Peoples’ stock options outstanding at June 30, 2015:



			Options Outstanding & Exercisable
Range of Exercise Prices			Common Shares Subject to Options Outstanding & Exercisable	Weighted-Average Remaining Contractual Life	Weighted-Average Exercise Price
$28.25			13,697	0.6 years	28.25
$28.56	to	$30.00	10,000	0.9 years	29.43
Total			23,697	0.7 years	$	28.75

The following table summarizes Peoples’ SARs outstanding at June 30, 2015:



Exercise Price	Number of Common Shares Subject to SARs Outstanding & Exercisable	Weighted- Average Remaining Contractual Life
$23.26	2,000	2.1
$23.77	10,582	2.3
$29.25	8,710	1.5
Total	21,292	1.9