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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in, the Company's Stock Option Awards
Busey has outstanding stock options that were issued under the First Community 2016 Equity Incentive Plan and assumed from acquisitions. A summary of the status of, and changes in, Busey's stock option awards follows (dollars in thousands, except weighted-average exercise price):
OptionsSharesWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Life		Intrinsic
Value
Outstanding at December 31, 202321,266 $23.53 2.88 years$27 
Exercised(2,640)23.53 
Forfeited(3,520)23.53 
Outstanding at December 31, 202415,106 23.53 1.87 years1 
 
Exercisable at December 31, 202415,106 23.53 1.87 years1 
Schedule of Changes in the Company's RSU, PSU, and DSU Awards
A summary of changes in Busey’s RSU awards for the year ended December 31, 2024, is as follows:
RSU AwardsSharesWeighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 20231,041,444 $22.05 
Granted 202,043 23.35 
Dividend equivalents earned 42,986 24.74 
Vested (187,446)25.38 
Forfeited (32,255)22.48 
Nonvested at December 31, 20241,066,772 $21.80 
A summary of changes in Busey’s PSU awards for the year ended December 31, 2024, is as follows:
PSU Awards
Shares1
Weighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 2023
341,700 $22.67 
Granted
189,208 22.32 
Dividend equivalents earned
4,264 22.95 
Vested2
(147,397)26.07 
Forfeited
(15,733)22.47 
Nonvested at December 31, 2024
372,042 $21.15 
 
Vested and outstanding at December 31, 20242
143,133 $26.17 
___________________________________________
1.Shares for PSU awards represent target shares at grant date.
2.PSUs granted in 2022 vested on December 31, 2024. Shares represent target amounts. Performance determinations were calculated and approved by Busey’s Compensation Committee on January 31, 2025, and settlement activity will take place in the first quarter of 2025.
A summary of changes in Busey’s DSU awards for the year ended December 31, 2024, is as follows:
DSU AwardsSharesWeighted-
Average
Grant Date
Fair Value
Nonvested at December 31, 202343,026 $20.41 
Granted 35,847 23.35 
Dividend equivalents earned 8,213 24.79 
Vested (49,168)21.04 
Forfeited (1,025)20.44 
Nonvested at December 31, 202436,893 $23.40 
 
Vested and outstanding at December 31, 2024184,941 $22.85 
Schedule of Stock-based Compensation Expense
Busey recognized compensation expense related to non-vested RSU, PSU, and DSU awards, as well as the ESPP, as summarized in the table below (dollars in thousands):
Years Ended December 31,
Location202420232022
Stock-based compensation expense
RSU awards
Salaries, wages, and employee benefits$3,823 $2,622 $4,648 
PSU awards1
Salaries, wages, and employee benefits2,867 2,962 3,240 
DSU awards
Other expense826 833 876 
ESPP
Salaries, wages, and employee benefits210 178 204 
Total stock-based compensation expense
$7,726 $6,595 $8,968 
___________________________________________
1.Expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at the grant date. Expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at the grant date, adjusted for performance expectations as of the date indicated.
Schedule of Unamortized Stock-based Compensation Expense
Unamortized stock-based compensation expense is presented in the table below (dollars in thousands):
As of December 31,
20242023
Unamortized stock-based compensation
RSU awards$7,093 $6,842 
PSU awards1
3,043 3,607 
DSU awards181 190 
Total unamortized stock-based compensation$10,317 $10,639 
 
Weighted average period over which expense is to be recognized
2.5 years
2.4 years
___________________________________________
1.Unamortized expense for PSU awards with a relative total stockholder return performance goal represents amounts based on target shares at grant date. Unamortized expense for PSU awards with return on average tangible common equity and compounded annual revenue growth rate performance goals represents amounts based on target shares at grant date, adjusted for performance expectations as of the date indicated.