Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 362

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 362
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 232.49

        Unvested non-employee RSUs, December 31, 2024

        16

        271.72

103

Agent equity awards are measured using the fair market value at the grant date and vest during the service period, which occur within the same quarterly reporting period.  To the extent that these awards are an incremental direct cost of successful acquisitions of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred, we defer and amortize the fair value of the awards in the same manner as other deferred policy acquisition costs. All agent equity awards that are not directly related to the acquisition of life insurance policies are recognized as expense in the quarter granted and earned.Details on the granting and valuation of these awards were as follows: 

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Quarterly incentive awards expense recognized currently
         
        $
        4,778

        $
        4,492

        $
        4,060

        Quarterly incentive awards expense deferred

        10,334

        10,546

        11,260

        Tax benefit associated with incentive awards

        2,939

        2,965

        3,056

       As of December 31, 2024, all agent equity awards were fully vested with the exception of approximately 16,694 shares that vested on January 1, 2025.  The following table summarizes non-cash share-based compensation expense by segment included in income from continuing operations:

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Non-cash share-based compensation expense:

        Term life insurance segment
         
        $
        4,974

        $
        4,285

        $
        4,133

        Investment and savings products segment

        3,171

        2,927

        3,212

        Corporate and other distributed products segment

        15,390

        11,031

        14,806

        Total non-cash share-based compensation expense
         
        $
        23,535

        $
        18,243

        $
        22,151

(17) Statutory Accounting and