Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 195

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 195
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 grant of the award, including an estimate for forfeitures, and a contemporaneous 

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valuation performed by a third-party valuation specialist with respect to the portion of the awards subject to relative total shareholder return.Any new executives hired after the annual executive RSU grant date may be eligible to participate in the 2024 LTIP. The Company has also granted additional awards to employees in certain periods under both the PLC LTIP and 2024 LTIP. Any off-cycle grants made to new hires or other employees are valued at their grant date fair value based on the closing price of the Company’s ordinary shares on the date of such grant.The details of shares issued for vested annual executive grants are as follows:Time-Based AwardsPerformance-Based AwardsVesting DateOrdinary Shares Issued Upon VestingFair Value of Shares at IssuanceOrdinary Shares Withheld to Cover Withholding TaxesOrdinary Shares Issued Upon VestingFair Value of Shares at IssuanceOrdinary Shares Withheld to Cover Withholding Taxes(dollars in millions)Q1 2025554,363 $36 224,317 138,010 $9 58,518 Q1 2024461,052 $36 188,897 151,245 $12 65,910 A summary of RSU activity, including award grants, vesting and forfeitures is provided below:RSUsWeighted Average Grant Date Fair Value (in thousands)Nonvested, January 1, 20252,770 $92.98 Granted1,921 $69.22 Vested(554)$99.49 Forfeited(156)$84.96 Nonvested, March 31, 20253,981 $80.92 Aptiv recognized share-based compensation expense related to these RSUs of $30 million ($26 million, net of tax) and $25 million ($21 million, net of tax) based on the Company’s best estimate of ultimate performance against the respective targets during the three months ended March 31, 2025 and 2024, respectively. Aptiv will continue to recognize compensation expense, based on the grant date fair value of the awards applied to the Company’s best estimate of ultimate performance against the respective targets, over the requisite vesting periods of the awards. Based on the grant date fair value of the awards and the Company’s best estimate of ultimate performance against the respective targets as of March 31, 2025, unrecognized