v3.26.1
Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Changes to Issuances Under 2017 Equity Plan

The table below summarizes changes to the issuances under the Company’s 2017 Omnibus Incentive Equity Plan for the periods indicated, excluding awards granted under the Company’s subsidiary incentive plans.

2017 Equity Plan

 

Number of shares

 

Available for issuance as of December 31, 2025

 

 

460,942

 

RSU, stock and option awards granted

 

 

(54,706

)

Forfeited

 

 

4,447

 

Amendment to plan

 

 

4,000,000

 

Available for issuance as of June 30, 2026

 

 

4,410,683

 

 

Summary of Changes RSUs and Option Activity

The following table presents changes to the issuances of RSUs under the 2017 Omnibus Incentive Equity Plan for the periods indicated:

 

Number of
shares issuable

 

 

Weighted average
grant date
fair value

 

Unvested units as of December 31, 2025

 

 

218,018

 

 

$

18.64

 

Granted

 

 

54,706

 

 

 

16.69

 

Vested

 

 

(84,077

)

 

 

16.76

 

Unvested units as of June 30, 2026 (1)

 

 

188,647

 

 

$

18.92

 

(1)
Includes 70,866, 87,463 and 30,318 shares that vest in 2027, 2028 and 2029, respectively.

The following tables present the detail of the granted and vested RSUs and stock awards for the periods indicated:

 

Six Months Ended June 30,

 

 

 

 

Six Months Ended June 30,

 

Granted

 

2026

 

 

2025

 

 

Vested

 

2026

 

 

2025

 

Directors

 

 

7,147

 

 

 

6,425

 

 

Directors

 

 

7,147

 

 

 

6,425

 

Employees

 

 

47,559

 

 

 

282,813

 

 

Employees

 

 

76,930

 

 

 

352,479

 

Total Granted

 

 

54,706

 

 

 

289,238

 

 

Total Vested

 

 

84,077

 

 

 

358,904

 

 

 

 

 

 

 

 

Taxes

 

 

(29,445

)

 

 

(117,765

)

 

 

 

 

 

 

 

Net Vested

 

 

54,632

 

 

 

241,139

 

The following table presents the Company’s stock option activity for the current period:

 

Options
outstanding

 

 

Weighted average
exercise price
(in dollars per
stock option)

 

 

Weighted
average grant
date value (in
dollars per
stock option)

 

 

Options
exercisable

 

Balance, December 31, 2025

 

 

907,237

 

 

$

6.62

 

 

$

1.82

 

 

 

907,237

 

Balance, June 30, 2026

 

 

901,786

 

 

$

6.62

 

 

$

1.82

 

 

 

901,786

 

Weighted average remaining contractual term at June 30, 2026 (in years)

 

 

2.8

 

 

 

 

 

 

 

 

 

 

 

Schedule of Performance Restricted Stock Units, Share Price Target The below table illustrates the aggregate number of PRSUs that will vest upon the achievement of each Tiptree share price target. Such price targets are adjusted down for cumulative dividends paid by the Company since grant (e.g., the next share price target is $28.71 as adjusted for cumulative dividends paid to date).

Original Tiptree Share Price Target

 

Number of PRSUs that Vest

$

30

 

 

 

 

 

775,000

 

 

$

45

 

 

 

 

 

1,033,333

 

 

$

60

 

 

 

 

 

1,291,667

 

 

 

$

70

 

 

 

 

 

1,420,833

 

 

 

Schedule of Assumptions Used to Estimate the Fair Values of the PRSUs Granted

The following table presents the assumptions used to measure the fair value of the PRSUs as of the respective grant date, or June 7, 2022, when the original tranches were converted to equity awards.

Valuation Input

 

June 2022

 

 

October 2022

 

 

January 2024

 

Historical volatility

 

 

38.75

%

 

 

39.23

%

 

 

39.10

%

Risk-free rate

 

 

3.04

%

 

 

3.95

%

 

 

3.80

%

Dividend yield

 

 

1.45

%

 

 

1.44

%

 

 

1.05

%

Cost of equity

 

 

11.72

%

 

 

14.19

%

 

 

13.65

%

Expected term (years)

 

 

6.0

 

 

 

5.9

 

 

 

5.5

 

 

Schedule of Stock-Based Compensation Expense and Related Income Tax Benefit

The following table presents total stock based compensation expense and the related income tax benefit recognized on the condensed consolidated statements of operations:

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Employee compensation and benefits

 

$

1,409

 

 

$

1,415

 

 

$

2,817

 

 

$

8,220

 

Director compensation

 

 

99

 

 

 

77

 

 

 

147

 

 

 

147

 

Income tax benefit

 

 

(69

)

 

 

(34

)

 

 

(111

)

 

 

(131

)

Net stock based compensation expense

 

$

1,439

 

 

$

1,458

 

 

$

2,853

 

 

$

8,236

 

Schedule of Additional Information on Total Non-Vested Stock-Based Compensation

Additional information on total non-vested stock based compensation is as follows:

 

As of June 30, 2026

 

 

Restricted stock
awards and RSUs

 

 

Performance Restricted
Stock Units

 

Unrecognized compensation cost related to non-vested awards

 

$

1,198

 

 

$

3,902

 

Weighted - average recognition period (in years)

 

 

1.0

 

 

 

0.7