Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 78

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 Dilutive share awards0.5 0.4 0.5 0.4 Diluted35.7 35.9 35.6 35.9 Basic earnings per share$0.52 $0.13 $0.68 $0.84 Diluted earnings per share$0.52 $0.12 $0.67 $0.83 Potentially dilutive share awards for Class A common stock are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the second quarter and June year-to-date 2025 and 2024 (see Stock-Based Compensation footnote for a description of performance shares).  Dividends paid per share for Class A and Class B common stock were $0.075 for the second quarter of 2025 and 2024 and $0.15 for June year-to-date 2025 and 2024.In November 2024, the Company's board of directors authorized a $50.0 million Class A share repurchase program that expires on December 2, 2026.  During the second quarter and June year-to-date 2025, the Company did not repurchase any Class A shares. A total of $40.0 million remains available under the share repurchase program as of second quarter-end 2025.

11. Stock-Based CompensationFor the second quarter of 2025, the Company recognized stock compensation expense of $3.5 million and a related tax benefit of $0.6 million.  For the second quarter of 2024, the Company recognized stock compensation expense of $2.4 million and a related tax benefit of $0.6 million.  For June year-to-date 2025, the Company recognized stock compensation expense of $7.2 million and a related tax benefit of $0.9 million.  For June year-to-date 2024, the Company recognized stock compensation expense of $5.2 million and a related tax benefit of $1.3 million.Performance Shares2025 GrantDuring the first quarter of 2025, the Company granted performance share awards associated with the Company’s Class A common stock to certain senior officers.  The payment of performance share awards is contingent upon the achievement of specific revenue growth and EBITDA margin performance goals over a stated period of time.  The maximum number of performance shares that may be earned is 200% of the target shares originally