v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITY
The following table summarizes information about shares of the Company's common stock at:
 March 31,December 31,
(In thousands)20262025
Common stock authorized75,000 75,000 
Common stock issued28,992 28,906 
Treasury stock4,707 4,707 
Common stock outstanding24,285 24,199 

The table below summarizes the regular quarterly dividends declared and paid during the periods ended March 31, 2026 and December 31, 2025:
(In thousands, except per share data)Per ShareRecord DatePayment DateTotal Paid
First Quarter 2025$1.15 03/07/2503/21/25$29,352 
Second Quarter 20251.15 05/30/2506/13/2529,036 
Third Quarter 20251.15 08/29/2509/12/2527,827 
Fourth Quarter 20251.15 11/28/2512/12/2527,828 
Total 2025$4.60 $114,043 
First Quarter 2026$1.15 03/13/2603/27/26$27,927 

Deferred and Restricted Stock Units

The LCI Industries 2018 Omnibus Incentive Plan (the "2018 Plan") provides for the grant or issuance of stock units, including those that have deferral periods, such as deferred stock units ("DSUs"), and those with time-based vesting provisions, such as restricted stock units ("RSUs"), to directors, employees, and other eligible persons. Recipients of DSUs and RSUs are entitled to receive shares at the end of a specified vesting or deferral period. Holders of DSUs and RSUs receive dividend equivalents based on dividends granted to holders of the common stock, which dividend equivalents are payable in additional DSUs and RSUs, and are subject to the same vesting criteria as the original grant. DSUs vest (i) ratably over the service period, (ii) at a specified future date, or (iii) for certain officers, based on achievement of specified performance conditions. RSUs vest
(i) ratably over the service period or (ii) at a specified future date. In addition, DSUs are issued in lieu of certain cash compensation. Transactions in DSUs and RSUs under the 2018 Plan are summarized as follows:
Number of SharesWeighted Average Price
Outstanding at December 31, 2025324,450 $110.79 
Issued234 122.98 
Granted111,534 133.20 
Dividend equivalents2,864 121.35 
Forfeited(8,032)114.35 
Vested(135,998)114.14 
Outstanding at March 31, 2026295,052 $117.62 

Performance Stock Units

The 2018 Plan provides for performance stock units ("PSUs") that vest at a specific future date based on achievement of specified performance conditions. Transactions in PSUs under the 2018 Plan are summarized as follows:
Number of SharesWeighted Average Price
Outstanding at December 31, 2025251,016 $114.55 
Granted53,193 133.20
Dividend equivalents1,913 121.35
Forfeited(102,486)114.19
Outstanding at March 31, 2026203,636 $119.65 

Stock Repurchase Programs

In May 2022, the Company's Board of Directors authorized a stock repurchase program (the "2022 Share Repurchase Program") granting the Company authority to repurchase up to $200.0 million of the Company's common stock over a three-year period, which ended on May 19, 2025. The timing of stock repurchases, and the number of shares, were dependent upon market conditions and other factors. Share repurchases could be made in the open market and/or in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program was subject to modification, suspension, or termination at any time by the Board of Directors. In March 2025, the Company purchased 308,898 shares at a weighted average price of $91.47 per share, totaling $28.4 million, including excise tax, under the 2022 Share Repurchase Program. Following such repurchase, no additional shares were purchased under the 2022 Share Repurchase Program prior to its expiration on May 19, 2025.
In May 2025, the Company's Board of Directors authorized a new stock repurchase program (the "2025 Share Repurchase Program") for the purchase of up to $300.0 million of the Company's common stock over a three-year period ending on May 15, 2028. The timing of stock repurchases, and the number of shares, will depend upon market conditions and other factors. Share repurchases, if any, will be made in privately negotiated and/or open market transactions, such as in compliance with Rule 10b-18 of the Securities Act of 1934, as amended (the "Exchange Act"), and/or pursuant to a trading plan in accordance with Rule 10b5-1 of the Exchange Act, or a combination of methods. The stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors. No shares were repurchased during the three months ended March 31, 2026. As of March 31, 2026, there was $200.0 million remaining for the repurchase of shares under the 2025 Share Repurchase Program.