Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022:

	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, 2022	88,922	$	25.44	247,346	$	32.19
Awarded	16,854	31.44		154,645	32.21
Released	—	—		(100,091)	32.20
Forfeited	—	—		(1,377)	32.28
Outstanding at March 31, 2022	105,776	$	26.39	300,523	$	32.19

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)	2022		2021
Employee stock-based compensation expense:
Stock grant expense	$	1,577	$	1,198
Employee stock purchase plan expense	28		17
Total employee stock-based compensation expense	1,605		1,215
Non-employee director stock-based compensation expense	124		195
Total stock-based compensation expense	1,729		1,410
Recognized tax benefit	(396)		(296)
Net stock-based compensation expense	$	1,333	$	1,114