The Company maintains the Nucor Corporation 2025 Omnibus Incentive Compensation Plan (the "Omnibus Plan") under which the Company may award stock-based compensation to employees, officers, consultants and non-employee directors. The Company's stockholders approved the Omnibus Plan on May 8, 2025. The Omnibus Plan permits the award of stock options, appreciation rights, restricted share units, restricted shares, performance shares and performance units for up to 6.8 million shares of the Company's common stock. As of July 5, 2025, 6.0 million shares remained available for award under the Omnibus Plan.

The Company also maintains a number of inactive plans, including the Nucor Corporation 2014 Omnibus Incentive Compensation Plan (the "2014 Plan"), under which stock-based awards remain outstanding but no further awards may be made. As of July 5, 2025, 1.6 million shares were reserved for issuance upon the future settlement of outstanding awards under such inactive plans.

A summary of activity under Nucor’s stock option plans for the first six months of 2025 is as follows (shares and aggregate intrinsic value in thousands):


			Weighted-		Weighted-
			Average		Average	Aggregate
			Exercise		Remaining	Intrinsic
	Shares		Price		Contractual Life	Value
Number of shares under stock options:
Outstanding at beginning of year		724	$	89.06
Granted		138	$	109.36
Exercised		-	$	-		$	-
Canceled		-	$	-
Outstanding at July 5, 2025		862	$	92.31	6.6 years	$	41,439
Stock options exercisable at July 5, 2025		602	$	76.13	5.5 years	$	37,493

For the 2025 stock option grant, the grant date fair value of $41.01 per share was calculated using the Black-Scholes options pricing model with the following assumptions:


Exercise price	$	109.36
Expected dividend yield		2.01	%
Expected stock price volatility		39.29	%
Risk-free interest rate		4.18	%
Expected life (in years)		6.5

Compensation expense for stock options was $4 million and $4 million in the second quarter of 2025 and 2024, respectively, and $5 million and $4 million in the first six months of 2025 and 2024, respectively. As of July 5, 2025, unrecognized compensation expense related to stock options was $3 million, which we expect to recognize over a weighted-average period of 2.3 years.

A summary of Nucor’s restricted stock unit (“RSU”) activity for the first six months of 2025 is as follows (shares in thousands):


	Shares			Grant Date Fair Value Per Share
Restricted stock units:
Unvested at beginning of year		1,021		$	144.89
Granted		624		$	109.36
Vested		(653	)	$	134.40
Canceled		(14	)	$	146.70
Unvested at July 5, 2025		978		$	129.19

Compensation expense for RSUs was $35 million and $54 million in the second quarter of 2025 and 2024, respectively, and $53 million and $67 million in the first six months of 2025 and 2024, respectively. As of July 5, 2025, unrecognized compensation expense related to unvested RSUs was $113 million, which we expect to recognize over a weighted-average period of 1.5 years.

A summary of Nucor’s restricted stock activity under the Nucor Corporation Senior Officers Annual Incentive Plan (a supplement to the 2014 Plan and the Omnibus Plan, the “AIP”) and the Nucor Corporation Senior Officers Long-Term Incentive Plan (a supplement to the 2014 Plan and the Omnibus Plan, the “LTIP”) for the first six months of 2025 is as follows (shares in thousands):


				Grant Date
	Shares			Fair Value Per Share
Restricted stock units and restricted stock awards:
Unvested at beginning of year		248		$	169.36
Granted		267		$	133.46
Vested		(282	)	$	146.91
Canceled		-		$	-
Unvested at July 5, 2025		233		$	155.42

Compensation expense for common stock and common stock units awarded under the AIP and the LTIP is recorded over the performance measurement and vesting periods based on the anticipated number and market value of shares of common stock and common stock units to be awarded. Compensation expense for anticipated awards based upon Nucor’s financial performance, exclusive of amounts payable in cash, was $13 million and $4 million in the second quarter of 2025 and 2024, respectively, and $20 million and $12 million in the first six months of 2025 and 2024, respectively. As of July 5, 2025, unrecognized compensation expense related to unvested restricted stock awards was $10 million, which we expect to recognize over a weighted-average period of 1.7 years.