Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 37

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 37
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 Inc. 2020 Omnibus Equity Compensation Plan (the “A&R 2020 Plan” and together with the 2018 and 2020 Plans, the “Plans”), which amends and restates the 2020 Plan. The A&R 2020 Plan increased the number of shares of common stock authorized for issuance under the 2020 Plan by an additional 2.5 million shares. As of June 30, 2025, 3.2 million shares remained available for future awards under the Plan.

20

Stock OptionsThe value of each option grant is estimated on the grant date using the Black-Scholes option pricing model (“BSM”). The option pricing model requires the input of certain assumptions, including the grant date fair value of our common stock, expected volatility, risk-free interest rates, expected term and expected dividend yield. To determine the grant date fair value of the Company’s common stock, we use the closing market price of our common stock at the grant date. We also use an expected volatility based on the historical volatility of the Company’s common stock and the “simplified” method for calculating the expected life of our stock options as the options are “plain vanilla” and we do not have any significant historical post-vesting activity. We have elected to account for forfeitures as they occur. The risk-free interest rates are obtained from publicly available U.S. Treasury yield curve rates.Share-based compensation is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The stock options issued under the Plans have 10-year terms and generally vest in four equal installments beginning one year after the date of the grant. The Company recognized compensation expense for stock options of approximately $42.4 thousand and $86.8 thousand for the three and six months ended June 30, 2024 (none in the three and six months ended June 30, 2025), which is included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of June 30, 2025, there is no unrecognized compensation expense related to stock options.A summary of stock option activity under the Plans during the six months ended June 30, 2025 is presented below:Number ofOptionsWeighted-AverageExercise PriceWeighted-AverageRemaining ContractualTerm (Years)Weighted-AverageGrant DateFair ValueOutstanding at December 31, 2024151,125 $12.13 4.36$4.