Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 33

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 33
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 The program does not require us to repurchase any dollar amount or number of common shares and may be suspended or discontinued at any time. As of September 30, 2025, no common shares have been repurchased through the program.

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Table of Contents

NOTE 8—SHARE-BASED COMPENSATION PLANS

A summary of share-based compensation expense included in net income is as follows:Three Months EndedNine Months Ended September 30,September 30, 2025202420252024 (In thousands)Grants of common shares, restricted stock units, and options$3,691 $3,777 $11,634 $11,952 Capitalized share-based compensation(242)(263)(721)(799)Share-based compensation expense$3,449 $3,514 $10,913 $11,153 

NOTE 9—EARNINGS PER SHARE AND UNIT

We have calculated earnings per share (“EPS”) and earnings per unit ("EPU") under the two-class method. The two-class method is an earnings allocation methodology whereby EPS and EPU for each class of common stock and partnership units, respectively, and participating securities is calculated according to dividends or distributions declared and participation rights in undistributed earnings. For the three and nine months ended September 30, 2025 and 2024, we had 0.3 million weighted average unvested shares and units outstanding, which are considered participating securities. Therefore, we have allocated our earnings for basic and diluted EPS and EPU between common shares and units and unvested shares and units; the portion of earnings allocated to the unvested shares and units is reflected as “earnings allocated to unvested shares” or "earnings allocated to unvested units" in the reconciliations below.The following potentially issuable shares were excluded from the diluted EPS and EPU calculations because their impact is anti-dilutive:•exercise of 3,019 stock options for the three months ended September 30, 2025, and 1,190 stock options for the nine months ended September 30, 2025 and the three and nine months ended September 30, 2024,•conversions of downREIT operating partnership units for the both the three and nine months ended September 30, 2025 and 2024,•conversions of 5.417% Series 1 Cumulative Convertible Preferred Shares and units for both the three and nine months