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Stock and Incentive Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Compensation Expense for Awards Under Stock Plan

The following table presents information regarding compensation expense for awards under the Stock Plan for the periods presented ($ in thousands):

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2022

 

 

 

Recognized Compensation Expense

 

 

Unrecognized

 

 

Weighted Average

 

 

 

for Years Ended December 31,

 

 

Compensation

 

 

Life of Unrecognized

 

 

 

2022

 

 

2021

 

 

2020

 

 

Expense

 

 

Compensation Expense

 

Performance awards

 

$

1,258

 

 

$

828

 

 

$

815

 

 

$

1,755

 

 

 

1.74

 

Time-based awards

 

 

3,625

 

 

 

4,773

 

 

 

4,382

 

 

 

3,524

 

 

 

1.59

 

Total

 

$

4,883

 

 

$

5,601

 

 

$

5,197

 

 

$

5,279

 

 

 

 
Performance Based Award [Member]  
Summary of Stock Plan Activity

The following table summarizes Trustmark’s performance award activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

140,821

 

 

$

31.80

 

 

 

145,042

 

 

$

32.43

 

 

 

149,914

 

 

$

32.88

 

Granted

 

 

60,773

 

 

 

32.64

 

 

 

53,273

 

 

 

30.02

 

 

 

53,450

 

 

 

31.98

 

Released from restriction

 

 

(19,723

)

 

 

33.40

 

 

 

(44,536

)

 

 

31.88

 

 

 

(36,357

)

 

 

33.31

 

Forfeited

 

 

(33,455

)

 

 

33.11

 

 

 

(12,958

)

 

 

31.28

 

 

 

(21,965

)

 

 

32.97

 

Nonvested shares, end of year

 

 

148,416

 

 

$

31.63

 

 

 

140,821

 

 

$

31.80

 

 

 

145,042

 

 

$

32.43

 
Time-based Awards [Member]  
Summary of Stock Plan Activity

The following table summarizes Trustmark’s time-based award activity for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested shares, beginning of year

 

 

337,466

 

 

$

31.18

 

 

 

301,619

 

 

$

32.24

 

 

 

300,006

 

 

$

33.04

 

Granted

 

 

133,307

 

 

 

31.85

 

 

 

180,847

 

 

 

29.85

 

 

 

123,810

 

 

 

31.52

 

Released from restriction

 

 

(148,905

)

 

 

32.16

 

 

 

(135,120

)

 

 

31.77

 

 

 

(110,537

)

 

 

33.58

 

Forfeited

 

 

(8,890

)

 

 

31.62

 

 

 

(9,880

)

 

 

31.19

 

 

 

(11,660

)

 

 

32.47

 

Nonvested shares, end of year

 

 

312,978

 

 

$

30.99

 

 

 

337,466

 

 

$

31.18

 

 

 

301,619

 

 

$

32.24