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Stockholders' Equity
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
Equity Incentive Plans:

2017 Equity Incentive Plan
The 2017 Equity Incentive Plan (the “2017 Plan”) provides for the grant of stock options, stock appreciation rights, restricted stock and other stock awards to its employees, directors and consultants for up to 1,977,292 shares of FirstSun common stock in the aggregate.
The following table presents stock options outstanding at June 30, 2023. There were no exercises, grants or forfeitures during the three or six months ended June 30, 2023:
 SharesWeighted-Average Exercise Price, per ShareWeighted-Average Remaining Contractual Term (years)
June 30, 2023
Outstanding, end of period1,307,915 $20.23 4.76
Options vested or expected to vest1,307,915 $20.23 
Options exercisable, end of period1,261,539 $20.11 4.68
At June 30, 2023, there was $362 of total unrecognized compensation cost related to non-vested stock options. The unrecognized compensation cost at June 30, 2023 is expected to be recognized over the following two years. At June 30, 2023 and December 31, 2022, the intrinsic value of the stock options was $6,215 and $21,216, respectively.
2021 Equity Incentive Plan
The FirstSun Capital Bancorp 2021 Equity Incentive Plan (the “2021 Plan”) provides for the grant of stock options, stock appreciation rights, restricted stock and other stock awards to its employees, directors and consultants for up to 2,476,571 shares of FirstSun common stock in the aggregate. Additionally, we established the FirstSun Capital Bancorp Long-Term Incentive Plan (“LTIP”), which became effective April 1, 2022. The LTIP is intended to qualify as a “top-hat” plan under ERISA that is unfunded and provides benefits only to a select group of management or highly compensated employees of FirstSun or the Bank.
In May 2022, we issued 11,344 shares of restricted stock that were fully vested in May 2023. In May 2023, we issued 15,007 shares of restricted stock that will fully vest in May 2024. At June 30, 2023, there was $337 of total unrecognized compensation cost related to the non-vested restricted stock.
In May 2023, we issued performance-based restricted stock under the LTIP that, subject to the achievement of performance conditions, will fully vest in April 2026. At June 30, 2023, we determined it is probable that 100,373 shares will be issued based upon the probability that the performance conditions will be achieved. At June 30, 2023, there was $2,576 of total unrecognized compensation cost related to the non-vested restricted stock granted on these probable shares.
In May 2022, we issued performance-based restricted stock under the LTIP that, subject to the achievement of performance conditions, will fully vest in April 2025. At June 30, 2023, we determined it is probable that 68,881 shares will be issued based upon the probability that the performance conditions will be achieved. At June 30, 2023, there was $1,430 of total unrecognized compensation cost related to the non-vested restricted stock granted on these probable shares.
Acquired Equity Incentive Plans
In conjunction with the Pioneer acquisition, we assumed certain options that had been granted under Pioneer’s option plans. All assumed options were fully vested and exercisable. No further options will be granted under the Pioneer plans.
 SharesWeighted-Average Exercise Price, per ShareWeighted-Average Remaining Contractual Term (years)
June 30, 2023
Outstanding, beginning of period165,491 $23.34 
Options assumed from Pioneer Bancshares, Inc.— — 
Exercised(4,176)16.82 
Forfeited(5,220)18.63 
Outstanding, vested, and exercisable, end of period156,095 $23.67 4.83
At June 30, 2023 and December 31, 2022, the intrinsic value of the stock options was $204 and $2,263, respectively.
For the three months ended June 30, 2023 and 2022, we recorded total compensation cost from the 2017 and 2021 Plans of $657 and $454, respectively. For the six months ended June 30, 2023 and 2022, we recorded total compensation cost from the 2017 and 2021 Plans of $1,083 and $620, respectively.