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SHARE BASED COMPENSATION
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
SHARE BASED COMPENSATION SHARE BASED COMPENSATION
On May 22, 2024, the Company's shareholders approved the Sandy Spring Bancorp, Inc. 2024 Equity Plan (the "2024 Plan"), which replaces the Company’s 2015 Omnibus Incentive Plan. The 2024 Plan provides for the granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, and restricted stock units to officers, employees and non-employee directors. Awards may be subject to performance conditions.

The 2024 Plan authorizes the issuance of up to 700,000 shares of common stock, subject to adjustment, has a term of 10 years, and is administered by the Compensation Committee of the Board of Directors. There were 670,910 shares available for issuance under the 2024 Plan at June 30, 2024.
 
Compensation expense is recognized on a straight-line basis over the vesting period of the respective stock option, restricted stock, restricted stock unit grant or performance share units. The Company recognized compensation expense of $2.6 million and $2.7 million for the three months ended June 30, 2024 and 2023, respectively, related to restricted stock award grants, restricted stock unit grants and performance share unit grants. The total of unrecognized compensation cost related to restricted stock awards, restricted stock unit grants, and performance share unit grants was approximately $7.7 million as of June 30, 2024. That cost is expected to be recognized over a weighted average period of approximately 2.08 years.

During the six months ended June 30, 2024, the Company granted 344,748 restricted stock units and performance share units, of which 87,846 units are subject to achievement of certain performance conditions measured over a three-year performance period, and 256,902 restricted stock units are subject to a three year vesting schedule. The Company did not grant any stock options under the 2024 Plan during the six months ended June 30, 2024.

A summary of the activity for the Company’s restricted stock, restricted stock units and performance share units for the period indicated is presented in the following table:
 Number
of
Common
Shares/Units		Weighted
Average
Grant-Date
Fair Value
Non-vested at January 1, 2024458,929 $32.90 
Granted344,748 $22.28 
Vested(214,896)$33.88 
Forfeited/ cancelled(7,542)$28.03 
Non-vested at June 30, 2024581,239 $26.56 

A summary of share option activity for the period indicated is reflected in the following table:
 Number
of
Common
Shares		Weighted
Average
Exercise
Share Price		Weighted
Average
Contractual
Remaining
Life (Years)		Aggregate
Intrinsic
Value
(in thousands)
Balance at January 1, 202480,195 $19.07 1.2 years$621 
Granted— $— 
Exercised(9,938)$10.96 $135 
Forfeited— $— 
Expired(6,468)$42.28 
Balance at June 30, 202463,789 $17.97 1.0 year$516 
Exercisable at June 30, 202463,789 $17.97 1.0 years$516