Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 137

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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 have reserved shares of our Class A common stock for issuance under these plans. The total stock-based compensation expense recognized was $3.0 million and $8.6 million for the three months ended March 31, 2025 and 2024, respectively.Restricted Stock UnitsRestricted stock unit activity for awards subject to only service conditions was as follows for the three months ended March 31, 2025: SharesWeighted-Average Grant-Date Fair Value(In thousands, except per share data)Outstanding at December 31, 20243,077 $12.23 Restricted stock units granted2,232 7.81 Restricted stock units vested(953)14.45 Restricted stock units canceled(277)11.58 Outstanding at March 31, 20254,079 $9.33 

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Table of ContentsGREEN DOT CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

Note 12—Stock-Based Compensation (continued)Performance-Based Restricted Stock UnitsPerformance-based restricted stock unit activity for the three months ended March 31, 2025 was as follows: SharesWeighted-Average Grant-Date Fair Value(In thousands, except per share data)Outstanding at December 31, 20241,569 $12.73 Performance restricted stock units granted111 7.83 Performance restricted stock units canceled(864)12.49 Outstanding at March 31, 2025816 $12.32 We grant performance-based restricted stock units to certain employees that are subject to the attainment of pre-established internal performance conditions, market conditions, or a combination thereof (collectively referred to herein as "performance-based restricted stock units"). The actual number of shares subject to the award is determined at the end of the performance period and may range from 0% to 200% of the target shares granted depending upon the terms of the award. Compensation expense related to these awards is recognized using the accelerated attribution method over the vesting period based on the grant date fair value of the award.

Note 13—Earnings per Common Share

The calculation of basic and diluted earnings per share ("EPS") was as follows: Three Months Ended March 31, 20252024(In thousands, except per share data)Basic earnings per Class A common shareNumerator:Net income$25,773 $4,750 Denominator:Weighted-average Class A shares issued and outstanding54