Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021:

	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	67,758	$	23.71	250,992	$	33.36
Awarded	25,107	32.58		76,819	31.48
Released	(9,127)	35.63		(73,611)	35.43
Forfeited	(500)	34.75		(6,668)	32.42
Outstanding at September 30	83,238	$	25.01	247,532	$	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				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2021		2020		2021		2020
Employee stock-based compensation expense:
Stock grant expense	$	597	$	615	$	2,381	$	2,950
Employee stock purchase plan expense	21		17		$	55	$	47
Performance unit benefit	—		—		$	—	$	(12)
Total employee stock-based compensation expense	618		632		$	2,436	$	2,985
Non-employee director stock-based compensation expense	60		53		$	310	$	288
Total stock-based compensation expense	678		685		$	2,746	$	3,273
Recognized tax benefit	(151)		(144)		(612)		(687)
Net stock-based compensation expense	$	527	$	541	$	2,134	$	2,586