At June 30, 2025, there were 950,245 authorized shares remaining available for future issuance pursuant to the United Fire Group, Inc. 2021 Stock and Incentive Plan (as amended, the "Stock Plan"). The activity in the Stock Plan is displayed in the following table:


Authorized Shares Available for Future Award Grants			Six months ended June 30, 2025
Beginning balance			1,335,589
Additional shares authorized			—
Number of awards granted			(376,822)
Number of awards forfeited or expired			61,980
Performance-based adjustments			(70,502)
Ending balance			950,245
Number of option awards exercised			—

Number of restricted awards vested and issued			77,327

At June 30, 2025, the Company had 37,210 authorized shares available for future issuance pursuant to the United Fire Group, Inc. Non-Employee Director Stock Plan (the "Director Stock Plan"). The activity in the Director Stock Plan is displayed in the following table:


Authorized Shares Available for Future Award Grants			Six months ended June 30, 2025
Beginning balance			71,410
Additional authorization			—
Number of awards granted			(34,200)
Number of awards forfeited or expired			—
Ending balance			37,210
Number of option awards exercised
Number of restricted awards vested and issued			32,190

For the three-month periods ended June 30, 2025 and 2024, the Company recognized stock-based compensation expense of $1,942 and $1,555, respectively.

As of June 30, 2025, we had $13,447 in stock-based compensation expense that has yet to be recognized through our results of operations. We expect this compensation to be recognized over the remainder of 2025 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated.