The 2022 Omnibus Incentive Plan ("2022 Plan") allows for the granting of stock options, stock appreciation rights, stock awards, restricted stock units, dividend equivalent rights, and other awards. The shares of common stock authorized to be issued under the 2022 Plan are to be drawn from the shares of the Company's authorized but unissued common stock or from shares of its common stock that the Company acquired, including shares purchased on the open market or private transactions.

During the six months ended June 30, 2025, the Company granted approximately 307,600 of restricted stock unit awards with a weighted average grant date fair value of $18.93. During the six months ended June 30, 2024, the Company granted approximately 353,700 of restricted stock unit awards with a weighted average grant date fair value of $17.71.

The fair value of the Company's time-based and performance-based awards was determined using the Company's stock price on the grant date. The fair value of the Company's market-based awards was estimated using the Company's stock price on the date of grant and the probability of vesting using a Monte Carlo simulation. The Monte Carlo simulation was performed with the following weighted-average assumptions:


	2025 Grants	2024 Grants
Volatility of A&B common stock	24.4%	27.4%
Average volatility of peer companies	29.8%	29.9%
Risk-free interest rate	4.3%	4.0%

The Company recognizes compensation cost net of actual forfeitures of restricted stock units. A summary of compensation cost related to share-based payments is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Share-based expense:
Restricted stock units	$	1,367	$	1,262	$	2,737	$	2,388