v3.25.1
Stock-Based Awards
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Awards Stock-Based Awards
Grants of RSUs and PSUs
    During the three months ending March 31, 2025, the Company granted non-performance-based RSUs and PSUs under the 2022 Amended and Restated Omnibus Incentive Plan (the “2022 Equity Plan”). The majority of the RSUs granted to employees during the three months ending March 31, 2025 have an annual graded vesting over a three year period from the grant date.
    The PSUs granted in February 2025 are subject to service, performance and market conditions. The performance and market condition determine the number of awards to vest. The service period is from February 1, 2025 to January 31, 2028, the performance conditions performance period is from January 1, 2025 to December 31, 2027 and the market condition performance period is from February 1, 2025 to January 31, 2028. A Monte Carlo simulation was used to estimate the fair value of PSUs on the grant date.
Stock Compensation Expense
Stock compensation expense for RSUs and PSUs granted under the 2022 Equity Plan and the Veritex (Green) 2014 Plan were as follows for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
 20252024
2022 Equity Plan$2,561 $2,459 
Veritex (Green) 2014 Plan176 430 
2022 Equity Plan
A summary of the status of the Company’s stock options under the 2022 Equity Plan as of March 31, 2025 and 2024, and changes during the three months then ended, is as follows:
 2022 Equity Plan
 Non-performance Based Stock Options
 Shares
Underlying
Options		Weighted
Exercise
Price		Weighted
Average
Contractual
Term		Aggregate Intrinsic Value
Outstanding at January 1, 2024602,573 $24.40 
Outstanding at March 31, 2024602,573 $24.40 4.59 years
Options exercisable at March 31, 2024602,573 $24.40 4.59 years
Outstanding at January 1, 2025492,847 $24.72 
Outstanding at March 31, 2025492,847 $24.72 3.57 years$912 
Options exercisable at March 31, 2025492,847 $24.72 3.57 years$912 

There was no unrecognized compensation expense related to options awarded under the 2022 Equity Plan as of March 31, 2025.

A summary of the status of the Company’s RSUs under the 2022 Equity Plan as of March 31, 2025 and 2024, and changes during the three months then ended, is as follows:

2022 Equity Plan
Non-performance-Based RSUs
 UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at January 1, 2024948,513 $27.52 
Granted190,018 21.94 
Vested into shares(159,113)29.87 
Forfeited(4,700)30.73 
Outstanding at March 31, 2024974,718 $26.03 
Outstanding at January 1, 2025826,837 $25.79 
Granted149,496 26.21 
Vested into shares(155,014)25.63 
Outstanding at March 31, 2025821,319 $24.37 
A summary of the status of the Company’s PSUs under the 2022 Equity Plan as of March 31, 2025 and 2024, and changes during the three months then ended, is as follows:

 2022 Equity Plan
Performance-Based
 PSUs
 UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at January 1, 2024129,786 $30.28 
Granted113,144 18.84 
Vested into shares(56,729)25.94 
Outstanding at March 31, 2024186,201 $25.01 
Outstanding at January 1, 2025163,545 $24.62 
Granted71,726 25.73 
Performance condition adjustment(1,945)
Vested into shares(28,996)38.68 
Outstanding at March 31, 2025204,330 $22.86 
As of March 31, 2025, there was $14,618 of total unrecognized compensation expense related to RSUs and PSUs awarded under the 2022 Equity Plan, respectively. The unrecognized compensation expense at March 31, 2025 is expected to be recognized over the remaining weighted average requisite service period of 2.34 years.
    A summary of the fair value of the Company’s RSUs and PSUs vested under the 2022 Equity Plan during the three months ended March 31, 2025 and 2024 is presented below:
Three Months Ended March 31,
 20252024
RSUs vested$4,819 $3,057 
PSUs vested1,122 1,133 
Veritex (Green) 2014 Plan
A summary of the status of the Company’s stock options under the Veritex (Green) 2014 Plan as of March 31, 2025 and 2024, and changes during the three months then ended, is as follows:
 Veritex (Green) 2014 Plan
 Non-performance Based Stock Options
 Shares
Underlying
Options		Weighted
Exercise
Price		Weighted
Average
Contractual
Term		Aggregate Intrinsic Value
Outstanding at January 1, 2024124,499 $22.00 
Outstanding at March 31, 2024124,499 $22.00 3.46 years
Options exercisable at March 31, 2024124,499 $22.00 3.46 years
Outstanding at January 1, 202594,669 $20.56 
Exercised(571)21.38 
Outstanding at March 31, 202594,098 $20.77 3.11 years$524 
Options exercisable at March 31, 202594,098 $20.77 3.11 years$524 
As of March 31, 2025, there was no unrecognized compensation expense related to options awarded under the Veritex (Green) 2014 Plan.
A summary of the status of the Company’s RSUs under the Veritex (Green) 2014 Plan as of March 31, 2025 and 2024 and changes during the three months then ended, is as follows:

Veritex (Green) 2014 Plan
Non-performance-Based
RSUs
UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at January 1, 202464,719 $18.26 
Vested into shares(3,308)32.20 
Outstanding at March 31, 202461,411 $17.51 
Outstanding at January 1, 202559,565 $17.51 
Outstanding at March 31, 202559,565 $17.51 

A summary of the status of the Company’s PSUs under the Veritex (Green) 2014 Plan as of March 31, 2025 and 2024 and changes during the three months then ended, is as follows:
 Veritex (Green) 2014 Plan
Performance-Based
 PSUs
 UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at January 1, 202410,642 $31.93 
Granted1,246 18.84 
Vested into shares(7,477)25.94 
Outstanding at March 31, 20244,411 $40.38 
Outstanding at January 1, 20254,411 $40.38 
Performance condition adjustment(316)
Vested into shares(4,095)40.38 
Outstanding at March 31, 2025— $— 
As of March 31, 2025, there was no unrecognized compensation related to PSUs awarded under the Veritex (Green) 2014 Plan.
    A summary of the fair value of the Company’s stock options exercised, RSUs and PSUs vested under the Veritex (Green) 2014 Plan during the three months ended March 31, 2025 and 2024 presented below:
Fair Value of Options Exercised or RSUs Vested in the Three Months Ended March 31,
 20252024
Non-performance-based stock options exercised$4 $— 
RSUs vested111 326 
PSUs vested165 149 
Green 2010 Plan
In addition to the Veritex (Green) 2014 Plan discussed earlier in this Note, the Company assumed the Green Bancorp Inc. 2010 Stock Option Plan (“Green 2010 Plan”).
A summary of the status of the Company’s stock options under the Green 2010 Plan as of March 31, 2025 and 2024, and changes during the three months then ended, is as follows:
 Green 2010 Plan
 Non-performance Based Stock Options
 Shares
Underlying
Options		Weighted
Exercise
Price		Weighted
Average
Contractual
Term		Aggregate Intrinsic Value
Outstanding at January 1, 202410,784 $12.65 
Outstanding at March 31, 202410,784 $12.65 3.82 years
Outstanding at January 1, 202510,784 $12.65 
Outstanding at March 31, 202510,784 $12.65 2.82 years$133