Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 271

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 271
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 under the plan. On January 1, 2022, FOA opened an initial offering period for our Employee Stock Purchase Plan (the “ESPP”) for the benefit of Company employees. Participation in the ESPP is voluntary and is open to any Company employee who satisfies the eligibility requirements under the ESPP other than the Company’s “officers” (as defined in Rule 16a-1 under the Exchange Act). The ESPP allows for shares of the Company’s Class A Common Stock to be purchased on behalf of participants, using funds contributed by participants through payroll deductions. Participants can contribute up to the lesser of 15% of the participant’s Base Earnings (as defined in the ESPP) or $50,000 per participant in any calendar year. The ESPP includes a matching component pursuant to which participating employees will be eligible to receive a grant of restricted stock units (“Match RSUs”) pursuant to and in accordance with the Company’s 2021 Omnibus Incentive Plan. The number of Match RSUs to be granted to participants with respect to each offering period will equal 20% of the shares purchased by participants under the ESPP with respect to such offering period. A summary of each classification of RSU activity is presented below:Grant Date Fair ValueReplacement RSUsNumber of Units UnvestedNumber of Units VestedTotal Number of UnitsWeighted Average Price Per UnitTotal Fair Value (in thousands)Outstanding, December 31, 2023112,489 20,640 133,129 $94.80 $12,620 Vested(109,048)109,048 — — — Forfeited(3,441)— (3,441)94.80 (326)Settled— (129,688)(129,688)94.80 (12,294)Outstanding, December 31, 2024— — — $— $— 

153

Finance of America Companies Inc.Notes to Consolidated Financial Statements

Equity-based compensation expense for the Replacement RSUs was $2.7 million and $18.9 million for the years ended December 31, 2024 and 2023, respectively. As of April 1, 2024, there is no further compensation expense associated with the Replacement RSUs.Grant Date Fair ValueEarnout Right RSUsNumber of Units UnvestedNumber of Units VestedTotal Number of Units Weighted Average Price Per