Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 132

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 132
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 its Retirement Benefit Plans and $47 thousand to its Other Postretirement Benefit Plans. During the six months ended June 30, 2025, $1.4 million was paid to participants from the Retirement Plans and $47 thousand was paid to participants from the Other Postretirement Benefit Plans.

Note 9. Stock-Based Incentive Plan

On April 26, 2023, the 2023 Equity Incentive Plan (the Plan) was approved by shareholders. This Plan replaced the Amended and Restated Univest 2013 Long-Term Incentive Plan (the 2013 Plan), which expired in April 2023. No new grants are permitted under the 2013 Plan. However, certain options and restricted stock units granted under the 2013 Plan remain outstanding.The following is a summary of the Corporation's stock option activity and related information for the six months ended June 30, 2025:(Dollars in thousands, except per share data)Shares Under OptionWeighted Average Exercise Price Per ShareWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value at June 30, 2025Outstanding at December 31, 2024127,782 $27.72 Exercised(13,000)24.84 Outstanding at June 30, 2025114,782 $28.05 2.1$229 Exercisable at June 30, 2025114,782 $28.05 2.1$229 The Corporation did not grant any stock options during the six months ended June 30, 2025 or June 30, 2024.The following is a summary of nonvested restricted stock units at June 30, 2025 including changes during the six months then ended:(Dollars in thousands, except per share data) Nonvested Stock Units Weighted Average Grant Date Fair ValueNonvested stock units at December 31, 2024501,679 $22.67 Granted196,666 28.44 Added by performance factor2,761 28.21 Vested(164,280)25.33 Forfeited(5,451)16.23 Nonvested stock units at June 30, 2025531,375 $24.02 Certain information regarding restricted stock units is summarized below for the periods indicated:Six Months Ended June 30,(Dollars in thousands