Stock-Based Compensation |
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Stock-Based Compensation | NOTE 14 - Stock-Based Compensation At June 30, 2025, we had five active stock-based compensation plans: the Non-Employee Directors’ Stock Retirement Plan (“Directors’ Plan”), the 2004 Omnibus Long-Term Incentive Plan (“2004 Plan”), the 2009 Omnibus Equity and Performance Incentive Plan (“2009 Plan”), the 2014 Performance and Incentive Compensation Plan (“2014 Plan”), and the 2018 Equity and Incentive Compensation Plan (“2018 Plan”). Future grants can only be made under the 2018 Plan. The 2018 Plan allows for grants of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares, performance units, and other stock awards subject to the terms of the 2018 Plan. The following table summarizes the compensation expense included in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings related to stock-based compensation plans:
The following table summarizes the unrecognized compensation expense related to unvested RSUs by type and the weighted-average period in which the expense is to be recognized:
We recognize expense on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. The following table summarizes the status of these plans as of June 30, 2025:
Service-Based Restricted Stock Units The following table summarizes the service-based RSU activity for the six months ended June 30, 2025:
Performance and Market-Based Restricted Stock Units The following table summarizes the performance and market-based RSU activity for the six months ended June 30, 2025:
Cash-Settled Restricted Stock Units Cash-Settled RSUs entitle the holder to receive the cash equivalent of one share of common stock for each unit when the unit vests. These RSUs are issued to key employees residing in foreign locations as direct compensation. Generally, these RSUs vest over a three-year period. Cash-Settled RSUs are classified as liabilities and are remeasured at each reporting date until settled. At June 30, 2025 and December 31, 2024, we had 15,028 and 44,127 cash-settled RSUs outstanding, respectively. At June 30, 2025 and December 31, 2024 liabilities of $390 and $608, respectively, were included in Accrued expenses and other liabilities on our Condensed Consolidated Balance Sheets. |