Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 137

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 137
---
 time-based vesting schedule and the performance-based vesting conditions in order to be issued. PSUs represent a right to receive shares of common stock at a future date determined in accordance with the participant’s award agreement and achievement of performance-based vesting conditions. There is no exercise price and no monetary payment required for receipt of PSUs or the shares issued in settlement of the award. Instead, consideration is furnished in the form of the participant’s services to the Company. The Company estimates the fair value of market condition PSUs at the grant date using a Monte Carlo simulation. The expense for market condition PSUs that vest is recognized regardless of the actual outcome achieved and is recognized on a graded-vesting basis. Compensation cost for performance condition PSUs is based on the fair value on the date of grant. Expense for performance condition PSUs that vest is recognized each period based on a probability assessment of the expected outcome of the performance targets with a final adjustment upon measurement at the end of the performance period and is recognized on a graded-vesting basis. During fiscal year 2025, the Company recognized $5.1 million in stock-based compensation expense related to all PSUs, for which the expense for performance condition PSUs was based on an estimated weighted average performance multiplier of approximately 150%.The per unit weighted average grant date fair value of PSUs granted during fiscal year 2025 was $18.13. A summary of PSU activity for fiscal year 2025 is presented below: 

         Number ofShares (1)

         WeightedAverage GrantDate Fair Valueper Share

         Outstanding at March 31, 2024
          
         —

         $
         —

         Awarded

         635,585

         18.13

         Forfeited

         (25,847
         )

         18.24

         Vested
          
         —

         —

         Outstanding at March 31, 2025

         609,738

         $
         18.13

        (1) Number of shares is based on the target number of PSUs under each market condition PSU and performance condition PSU. Based on an estimated weighted average performance multiplier of approximately 150%, approximately 400,000 of performance condition PSUs are expected to time vest over the next three years.The weighted average assumptions (annualized percentages) used in the Monte Carlo simulation for market condition PSUs were as follows: 

         Market Condition PSUs

         Fiscal Year 2025

         Volatility