Stock-Based Compensation (Tables)

9 Months Ended

Sep. 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 nine months ended September 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	58,420	30.94		154,645	32.21
Released	(12,424)	32.37		(100,664)	32.20
Forfeited	—	—		(3,647)	32.17
Outstanding at September 30, 2022	134,918	$	27.18	297,680	$	32.20

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				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2022		2021		2022		2021
Employee stock-based compensation expense:
Stock grant expense	$	780	$	597	$	2,933	$	2,381
Employee stock purchase plan expense	2		21		54		55
Total employee stock-based compensation expense	782		618		$	2,987	$	2,436
Non-employee director stock-based compensation expense	127		60		$	378	$	310
Total stock-based compensation expense	909		678		$	3,365	$	2,746
Recognized tax benefit	(195)		(151)		(721)		(612)
Net stock-based compensation expense	$	714	$	527	$	2,644	$	2,134