Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 36

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 36
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24.36 Outstanding at March 31, 2025116,282 $28.05 2.4$44 Exercisable at March 31, 2025116,282 $28.05 2.4$44 The Corporation did not grant any stock options during the three months ended March 31, 2025 or March 31, 2024.The following is a summary of nonvested restricted stock units at March 31, 2025 including changes during the three 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(163,625)25.34 Forfeited(4,175)21.19 Nonvested stock units at March 31, 2025533,306 $24.02 Certain information regarding restricted stock units is summarized below for the periods indicated:Three Months Ended March 31,(Dollars in thousands, except per share data)20252024Restricted stock units granted196,666 270,030 Weighted average grant date fair value$28.44 $19.68 Intrinsic value of units granted$5,592 $5,314 Restricted stock units vested163,625 145,598 Weighted average grant date fair value$25.34 $27.63 Intrinsic value of 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