On April 26, 2023, the 2023 Equity Incentive Plan (the Plan) was approved by shareholders. This Plan replaced the Amended and Restated Univest 2013 Long-Term Incentive Plan (the 2013 Plan), which expired in April 2023. No new grants are permitted under the 2013 Plan. However, certain options and restricted stock units granted under the 2013 Plan remain outstanding.

The following is a summary of the Corporation's stock option activity and related information for the six months ended June 30, 2025:


(Dollars in thousands, except per share data)	Shares Under Option	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value at June 30, 2025
Outstanding at December 31, 2024	127,782	$	27.72



Exercised	(13,000)	24.84
Outstanding at June 30, 2025	114,782	$	28.05	2.1	$	229
Exercisable at June 30, 2025	114,782	$	28.05	2.1	$	229

The Corporation did not grant any stock options during the six months ended June 30, 2025 or June 30, 2024.

The following is a summary of nonvested restricted stock units at June 30, 2025 including changes during the six months then ended:


(Dollars in thousands, except per share data)	Nonvested Stock Units	Weighted Average Grant Date Fair Value
Nonvested stock units at December 31, 2024	501,679	$	22.67
Granted	196,666	28.44
Added by performance factor	2,761	28.21
Vested	(164,280)	25.33
Forfeited	(5,451)	16.23
Nonvested stock units at June 30, 2025	531,375	$	24.02

Certain information regarding restricted stock units is summarized below for the periods indicated:


	Six Months Ended June 30,
(Dollars in thousands, except per share data)	2025		2024
Restricted stock units granted	196,666		273,030
Weighted average grant date fair value	$	28.44	$	19.70
Intrinsic value of units granted	$	5,592	$	5,378
Restricted stock units vested	164,280		151,041
Weighted average grant date fair value	$	25.33	$	27.66
Intrinsic value of units vested	$	4,670	$	2,983

The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at June 30, 2025 is presented below:


(Dollars in thousands)	Unrecognized Compensation Cost		Weighted-Average Period Remaining (Years)

Restricted stock units	$	8,807	2.1

The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:


	Six Months Ended June 30,
(Dollars in thousands)	2025		2024
Stock-based compensation expense:

Restricted stock units	$	2,252	$	2,231
Employee stock purchase plan	45		49
Total	$	2,297	$	2,280
Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options	$	275	$	658