Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 420

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 420
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 Company’s RSU activity: Number ofRSUsWeighted-AverageFair ValueBalance at January 1, 20241,225,668 $79.72 Granted238,221 155.14 Assumed (converted Masonite equity awards)488,778 174.03 Vested(655,825)121.58 Forfeited(47,696)124.74 Balance at December 31, 20241,249,146 $107.31 As of December 31, 2024, there was $51 million of total unrecognized compensation cost related to RSUs. This total includes $14 million of unrecognized compensation related to converted Masonite equity awards and $37 million related to Owens Corning Stock Plans. That cost is expected to be recognized over a weighted-average period of 1.82 years. The total grant date fair value of stock vested during the years ended December 31, 2024, 2023 and 2022 was $80 million, $27 million and $22 million, respectively.Performance Share UnitsThe Company has granted performance share units (“PSUs”) as a part of its long-term incentive plan. All outstanding PSUs will fully settle in stock. The amount of shares ultimately distributed from the 2024, 2023 and 2022 grants is contingent on meeting internal company-based metrics or an external-based stock performance metric. In 2024, 2023 and 2022, the Company granted both internal company-based and external-based metric PSUs. Internal Company-based metricsThe internal Company-based metric PSUs are based on various Company metrics and typically vest after a three-year period. The amount of stock distributed will vary from 0% to 200% of PSUs awarded depending on each award's design and performance versus the Company-based metrics. The initial fair value for all internal Company-based metric PSUs assumes that the performance goals will be achieved and is based on the grant date stock price. This assumption is monitored quarterly and if it becomes probable that such goals will not be achieved or will be exceeded, compensation expense recognized will be adjusted and previous surplus compensation expense recognized will be reversed or additional expense will be recognized. The expected term represents the period from the grant date to the end of the three-year performance period. Pro-rata vesting may be utilized in the case of death, disability or retirement, and awards, if earned, will be paid at the end of the three-year period.The