Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Shares Activity

The following table summarizes the changes to Peoples’ restricted common shares for the six months ended June 30, 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	48,436	31.58		154,645	32.21
Released	(8,041)	32.89		(100,091)	32.20
Forfeited	—	—		(1,880)	32.15
Outstanding at June 30, 2022	129,317	$	27.28	300,020	$	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				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2022		2021		2022		2021
Employee stock-based compensation expense:
Stock grant expense	$	576	$	585	$	2,153	$	1,784
Employee stock purchase plan expense	24		18		52		34
Total employee stock-based compensation expense	600		603		$	2,205	$	1,818
Non-employee director stock-based compensation expense	127		55		$	251	$	250
Total stock-based compensation expense	727		658		$	2,456	$	2,068
Recognized tax benefit	(166)		(138)		(560)		(434)
Net stock-based compensation expense	$	561	$	520	$	1,896	$	1,634