Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 380

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 8
Chunk 380
---
30, 2023, in connection with employee stock incentive plans, the Company granted 537,168 restricted stock units with a grant date fair value of $20,496. The restricted stock units generally vest over a period of one to five years based on continued service. Performance based restricted stock units generally vest based on both the employee’s continued service and the achievement of a set threshold of the Company’s common stock price, as defined in the grant, during the two to three-year period following the grant. In determining the fair value of restricted stock units on the grant date, the fair value is adjusted for (a) estimated forfeitures, (b) expected dividends based on historical patterns and the Company’s anticipated dividend payments over the expected holding period and (c) the risk-free interest rate based on U.S. Treasuries for a maturity matching the expected holding period.(b) Employee Stock Purchase PlanIn connection with the Company’s Employee Stock Purchase Plan (the “Purchase Plan”), share based compensation was: Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2024202320242023Share-based compensation expense for Employee Stock Purchase Plan for continuing operations$64 $114 $340 $485 Share-based compensation expense for Employee Stock Purchase Plan for discontinued operations8 18 39 71 Total share-based compensation expense for Employee Stock Purchase Plan$72 $132 $379 $556 As of September 30, 2024 and December 31, 2023, there were 236,949, shares reserved for issuance under the Purchase Plan.  (c) Common StockSince October 30, 2018, the Company’s Board of Directors has authorized annual share repurchase programs of up to $50,000 of its outstanding common shares. All share repurchases were effected on the open market at prevailing market prices or in privately negotiated transactions. During the nine months ended September 30, 2024, the Company repurchased zero shares of its common stock. During the nine months ended September 30, 2023, the Company repurchased 1,452,831 shares of its common stock for $53,688, which represents an average price of $36.95 per common share. The shares repurchased under the program are retired. In November 2023, the share repurchase program was reauthorized by the Board of Directors for share repurchases up to $50,000 of the Company's outstanding common shares and the reauthorized program expired in October 202