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Share-Based Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock and Stock Option Activity
The following table summarizes stock-based compensation plan activity for the year ended December 31, 2022:
Non-Vested Restricted Stock Awards OutstandingStock Options Outstanding
Time-BasedPerformance-Based
Number of
Shares		Weighted-Average
Grant Date
Fair Value		Number of
Shares		Weighted-Average
Grant Date
Fair Value		Number of
Shares		Weighted-Average
Exercise Price
Balance, beginning of period529,284 $48.77 266,417 $50.03 107,612 $23.05 
Granted (1)
711,503 54.95 307,852 57.66 — — 
Sterling replacement awards (2)
1,185,499 56.81 — — 10,972 29.14 
Adjustment (3)
187,915 56.81 (187,915)47.43 — — 
Vested(993,512)48.69 (59,400)56.14 — — 
Forfeited(140,947)51.43 (16,580)55.63 — — 
Exercised— — — — (30,355)23.18 
Balance, end of period1,479,742 50.47 310,374 57.65 88,229 23.76 
(1)Includes 127,524 shares for performance-based awards that were granted to certain executives on February 1, 2022, in order to incentivize their efforts to promote the integration of Webster and Sterling. One-third of these awards will be eligible to vest each year, in an amount ranging from 50% to 100% of target, based on the achievement of performance metrics in each of the three performance periods, and generally subject to the executive's continued employment.
(2)The Company issued 1,126,495 shares of common stock and reissued 59,004 shares from Treasury stock in order to satisfy its consideration to replace Sterling equity awards under the merger agreement. During the year ended December 31, 2022, the Company recognized an increase of $18.8 million in stock compensation expense related to the replacement equity awards.
(3)Due to the impact of the merger with Sterling on the level of achievement of target performance conditions for the open performance periods applicable to outstanding awards, certain non-vested performance-based restricted stock awards were converted into time-based restricted stock awards on January 31, 2022.