Company: IPAR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001753926-25-001236
Chunk: 39

Company: INTERPARFUMS INC
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 7
Chunk 39
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 related to operating leases was $1.7 million and $3.4 million for the three and six months ended June 30, 2025, respectively, as compared to $1.7 million and $3.3 million for the corresponding periods of the prior year. Operating lease payments included in operating cash flows totaled $4.2
million and $2.9 million for the six months ended June 30, 2025 and 2024, respectively, and noncash additions to operating lease assets totaled $0.9 million and $0.8 million for the six months ended June 30, 2025 and 2024, respectively.

8.
Share-Based Payments:

The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest over a four to five-year period. The fair value of shares vested during the six months ended June 30, 2025 and 2024 aggregated $0.02 million and $0.04 million, respectively. Compensation cost, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period for the entire award. Forfeitures are estimated based on historic trends. It is generally our policy to issue new shares upon exercise of stock options. 

The following table sets forth information with respect to nonvested options for the six months ended June 30, 2025:

Number of Shares

Weighted Average Grant-Date Fair Value

Nonvested options – beginning of period

118,650

$
30.02

Nonvested options granted

—

—

Nonvested options vested or forfeited

(7,100
)
 
$
24.34

Nonvested options – end of period

111,550

$
30.38

Page 11

INTERPARFUMS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Share-based payment expense decresased income before income taxes by $0.39 million and $0.95 million for the three and six months ended June 30, 2025 respectively, as compared to decreases of $0.58 million and $1.17 million for the three and six months ended June 30, 2024 respectively,