FIRST COMMONWEALTH FINANCIAL CORP /PA/ Stock Compensation Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
| Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | ||||||||||||||||||||||||||||||
| Outstanding, beginning of the year | 399,497 | $ | 14.68 | 317,065 | $ | 14.62 | 311,265 | $ | 14.48 | ||||||||||||||||||||||||||
| Granted | 126,515 | 16.31 | 212,572 | 14.29 | 106,750 | 14.32 | |||||||||||||||||||||||||||||
| Vested | (129,925) | 15.55 | (120,265) | 13.83 | (90,810) | 13.76 | |||||||||||||||||||||||||||||
| Forfeited | (4,000) | 14.50 | (9,875) | 14.87 | (10,140) | 14.86 | |||||||||||||||||||||||||||||
| Outstanding, end of the year | 392,087 | 14.92 | 399,497 | 14.68 | 317,065 | 14.62 | |||||||||||||||||||||||||||||
| Grant Date | Target Share Award | Performance Period (years) | Award if threshold met | Award if targets are met | Award if superior met | Award if threshold not achieved | Vesting After Performance Period (years) | Final vesting | ||||||||||||||||||
| February 18, 2021 | 143,400 | 3 | 40 | % | 100 | % | 200 | % | — | % | 0 | December 31, 2023 | ||||||||||||||
| February 17, 2022 | 121,200 | 3 | 40 | % | 100 | % | 200 | % | — | % | 0 | December 31, 2024 | ||||||||||||||
| January 23, 2023 | 159,000 | 3 | 40 | % | 100 | % | 200 | % | — | % | 0 | December 31, 2025 | ||||||||||||||
| January 29, 2024 | 167,800 | 3 | 40 | % | 100 | % | 200 | % | — | % | 0 | December 31, 2026 | ||||||||||||||
| January 27, 2025 | 159,800 | 3 | 40 | % | 100 | % | 200 | % | — | % | 0 | December 31, 2027 | ||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Outstanding, beginning of the year | 475,225 | 453,714 | 434,352 | ||||||||||||||
| Granted | 203,523 | 276,161 | 162,774 | ||||||||||||||
| Issued | (155,956) | (215,100) | (143,412) | ||||||||||||||
| Forfeited | (34,700) | (39,550) | — | ||||||||||||||
| Outstanding, end of the year | 488,092 | 475,225 | 453,714 | ||||||||||||||
| Proportional Fair Value | |||||||||||||||||
| 50% | 25% | 25% | |||||||||||||||
| February 18, 2021 | $ | 12.77 | $ | 16.41 | $ | 11.45 | |||||||||||
| February 17, 2022 | 16.56 | 21.08 | 15.20 | ||||||||||||||
| January 23, 2023 | 14.06 | 17.53 | 12.70 | ||||||||||||||
| January 29, 2024 | 15.05 | 17.09 | 13.64 | ||||||||||||||
| January 27, 2025 | 16.77 | 18.14 | 15.30 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
About Stock Compensation Disclosures
Stock-based compensation disclosures detail the equity awards granted to employees and executives — including stock options, restricted stock units (RSUs), and performance shares — along with the valuation methods and assumptions used to expense them. This section reveals the true cost of talent retention and the alignment between management incentives and shareholder interests.
Key signals: total unrecognized compensation expense and its expected recognition period signal future earnings headwinds from already-granted awards. For stock options, examine Black-Scholes assumptions — expected volatility, risk-free rate, and expected term — as understating any of these reduces reported compensation expense. Compare stock compensation expense as a percentage of revenue against peers to assess dilution cost. Watch vesting schedules for acceleration clauses tied to change-of-control events. Performance-based awards with undemanding targets may indicate weak governance. Add back stock compensation to operating cash flow to calculate a more conservative free cash flow figure.