Stock-Based Compensation |
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| Stock-Based Compensation | 11. Stock-Based Compensation For the second quarter of 2025, the Company recognized stock compensation expense of $3.5 million and a related tax benefit of $0.6 million. For the second quarter of 2024, the Company recognized stock compensation expense of $2.4 million and a related tax benefit of $0.6 million. For June year-to-date 2025, the Company recognized stock compensation expense of $7.2 million and a related tax benefit of $0.9 million. For June year-to-date 2024, the Company recognized stock compensation expense of $5.2 million and a related tax benefit of $1.3 million. Performance Shares 2025 Grant During the first quarter of 2025, the Company granted performance share awards associated with the Company’s Class A common stock to certain senior officers. The payment of performance share awards is contingent upon the achievement of specific revenue growth and EBITDA margin performance goals over a stated period of time. The maximum number of performance shares that may be earned is 200% of the target shares originally granted. These awards have three one-year performance periods: 2025, 2026 and 2027, with the payout for each performance period based on separate financial measure goals that are set in February of each of the three performance periods. Earned shares during each performance period will cliff vest in February 2028 after approval of the financial results by the Compensation Committee, if not forfeited by the recipient. No dividends are paid on these performance shares. A summary of the status of all nonvested performance shares at target as of second quarter-end 2025 and the year-to-date changes is presented as follows below (in thousands of shares except per share data). The vesting adjustment in the table below represents a portion of the 2022 performance shares that did not vest because actual achievement was below the threshold level or was not achieved, and resulted in no payout.
Restricted Stock A summary of the status of nonvested restricted stock as of second quarter-end 2025 and the year-to-date changes is presented as follows below (in thousands of shares except per share data).
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