Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 116

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 116
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 units vested$4,650 $2,865 The total unrecognized compensation expense and the weighted average period over which unrecognized compensation expense is expected to be recognized related to nonvested restricted stock units at March 31, 2025 is presented below:(Dollars in thousands)Unrecognized Compensation CostWeighted-Average Period Remaining (Years)Restricted stock units$10,126 2.3The following table presents information related to the Corporation’s compensation expense related to stock incentive plans recognized for the periods indicated:Three Months Ended March 31,(Dollars in thousands)20252024Stock-based compensation expense:Restricted stock units$1,067 $1,025 Employee stock purchase plan26 26 Total$1,093 $1,051 Tax benefit on nonqualified stock option expense and disqualifying dispositions of incentive stock options$28 $405 

28

Note 10. Accumulated Other Comprehensive (Loss) Income

The following table shows the components of accumulated other comprehensive (loss) income, net of taxes, for the periods presented:(Dollars in thousands)Net UnrealizedLosses onAvailable-for-SaleInvestmentSecuritiesNet ChangeRelated toDerivatives Used for Cash Flow HedgesNet ChangeRelated toDefined BenefitPension PlansAccumulatedOtherComprehensiveLossBalance, December 31, 2024$(35,117)$(2,422)$(6,453)$(43,992)Other comprehensive income5,583 1,397 41 5,624 Reclassification adjustment recorded in earnings (1)— 446 — 446 Balance, March 31, 2025$(29,534)$(1,976)$(6,412)$(37,922)Balance, December 31, 2023$(34,321)$(4,566)$(11,759)$(50,646)Other comprehensive (loss) income(2,293)(1,917)116 (4,094)Balance, March 31, 2024$(36,614)$(6,483)$(11,643)$(54,740)(1) Represents reclassification to earnings as a reduction to interest income of amounts included in accumulated other comprehensive income on the condensed consolidated balance sheet related to the interest rate swap terminated on August 2, 2024.

Note 11. Derivative Instruments and Hedging Activities 

Interest Rate SwapsThe Corporation periodically uses