Stockholders’ Equity

The following table details the activity in Peoples’ common stock and treasury stock during the years ended December 31:



	Common Stock		Treasury Stock
Shares at December 31, 2014	15,599,643		590,246
Changes related to stock-based compensation awards:
Grant of restricted common shares	131,011		—
Release of restricted common shares	—		25,205
Cancellation of restricted common shares	(28,219	)	—
Grant of common shares	2,810		(100	)
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock	—		7,654
Reissuance of treasury stock	—		(9,642	)
Common shares issued under dividend reinvestment plan	18,257		—
Common shares issued under compensation plan for Board of Directors	—		(10,231	)
Common shares issued under employee stock purchase plan	—		(16,446	)
Issuance of common shares related to acquisition of NB&T Financial Group, Inc.	3,207,698		—
Shares at December 31, 2015	18,931,200		586,686
Changes related to stock-based compensation awards:
Grant of restricted common shares	—		(56,000	)
Release of restricted common shares	—		17,220
Cancellation of restricted common shares	(11,820	)	1,000
Grant of common shares	—		(350	)
Exercise of stock options for common shares	—		(1,775	)
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock	—		8,396
Reissuance of treasury stock	—		(12,012	)
Common shares purchased under repurchase program	—		279,770
Common shares issued under dividend reinvestment plan	19,711		—
Common shares issued under compensation plan for Board of Directors	—		(11,450	)
Common shares issued under employee stock purchase plan	—		(15,727	)
Shares at December 31, 2016	18,939,091		795,758
Changes related to stock-based compensation awards:
Release of restricted common shares	—		10,452
Cancellation of restricted common shares	(3,554	)	5,050
Exercise of stock options for common shares	—		(266	)
Grant of restricted common shares	—		(68,707	)
Grant of common shares	—		(300	)
Changes related to deferred compensation plan for Board of Directors:
Purchase of treasury stock	—		5,413
Reissuance of treasury stock	—		(24,634	)
Common shares issued under dividend reinvestment plan	16,848		—
Common shares issued under compensation plan for Board of Directors	—		(9,092	)
Common shares issued under employee stock purchase plan	—		(11,225	)
Shares at December 31, 2017	18,952,385		702,449

On November 3, 2015, Peoples announced that its Board of Directors approved and adopted a share repurchase program authorizing Peoples to purchase, from time to time, up to an aggregate of $20 million of its outstanding common shares. No common shares were repurchased in 2015. During 2016, Peoples repurchased 279,770 common shares at a cost of $5.0 million under the program. No common shares were repurchased in 2017.

On March 6, 2015, Peoples completed its acquisition of NB&T, and issued 3,207,698 common shares reflecting $76.0 million of consideration, with the remainder paid in cash.

Under its Amended Articles of Incorporation, Peoples is authorized to issue up to 50,000 preferred shares, in one or more series, having such voting powers, designations, preferences, rights, qualifications, limitations and restrictions as determined by Peoples' Board of Directors. At December 31, 2017, Peoples had no preferred shares issued or outstanding.

Accumulated Other Comprehensive (Loss) Income

The following details the change in the components of Peoples’ accumulated other comprehensive (loss) income for the years ended December 31:



(Dollars in thousands)	Unrealized Gain (Loss) on Securities			Unrecognized Net Pension and Postretirement Costs			Unrealized Gain (Loss) on Cash Flow Hedge			Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2014	$	2,542		$	(3,843	)	$	—		$	(1,301	)
Reclassification adjustments to net income:
Realized gain on sale of securities, net of tax	(474		)	—			—			(474		)
Realized loss due to settlement and curtailment, net of tax	—			298			—			298
Other comprehensive income, net of reclassifications and tax	801			317			—			1,118
Balance, December 31, 2015	$	2,869		$	(3,228	)	$	—		$	(359	)
Reclassification adjustments to net income:
Realized gain on sale of securities, net of tax	(604		)	—			—			(604		)
Other comprehensive (loss) income, net of reclassifications and tax	(1,684		)	(93		)	1,186			(591		)
Balance, December 31, 2016	$	581		$	(3,321	)	$	1,186		$	(1,554	)
Reclassification adjustments to net income:
Realized gain on sale of securities, net of tax	(1,939		)	—			—			(1,939		)
Realized loss due to settlement and curtailment, net of tax	—			157			—			157
Amounts reclassified out of accumulated other comprehensive (loss) income per ASU 2018-02	(370		)	(754		)	200			(924		)
Other comprehensive loss, net of reclassifications and tax	(360		)	(338		)	(257		)	(955		)
Balance, December 31, 2017	$	(2,088	)	$	(4,256	)	$	1,129		$	(5,215	)

As of December 31, 2017, Peoples elected to early adopt and retrospectively apply the reclassification of stranded income tax effects from accumulated other comprehensive loss to retained earnings, as permitted under ASU 2018-02.