Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Restricted Shares Activity

The following table summarizes the changes to Peoples’ restricted common shares for the three months ended March 31, 2020:

	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	32,230	$	33.05	253,884	$	33.29
Awarded	—	—		80,338	32.91
Released	4,000	31.63		56,827	32.42
Forfeited	200	34.14		3,402	33.04
Outstanding at March 31	28,030	$	33.25	273,993	$	33.36

Summary of Stock-Based Compensation and Related Tax Benefit

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

	Three Months Ended
	March 31,
(Dollars in thousands)	2020		2019
Employee stock-based compensation expense:
Stock grant expense	$	1,380	$	1,153
Employee stock purchase plan expense	15		16
Performance unit (benefit) expense	(12)		39
Total employee stock-based compensation expense	1,383		1,208
Non-employee director stock-based compensation expense	182		152
Total stock-based compensation expense	1,565		1,360
Recognized tax benefit	(329)		(286)
Net stock-based compensation expense	$	1,236	$	1,074