Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 80

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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.4 years. As of September 30, 2025, the future unrecognized stock-based compensation expense related to the outstanding Converted NSOs was $1.0 million, which will be recognized over a remaining service period of 1.0 years. Converted NSOsConverted NSOs generally expire 10 years after the grant date and, except under certain conditions, the options are subject to continued employment and vest in three annual installments over the three-year period following the grant date. During the nine months ended September 30, 2025, the Company issued 5.1 million of Converted NSOs with a weighted average exercise price of $5.04, of which 3.7 million were exercised during the period at a weighted average exercise price of $5.02.

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RSUsThe Company grants RSUs which vest subject to the employee’s continued employment with the Company through the applicable vesting date.The following table summarizes the activity related to the Company’s RSUs for the nine months ended September 30, 2025:(in millions, except for weighted average grant date fair value)Number of RSUsWeighted Average Grant Date Fair ValueBalance at beginning of period13.5 $11.57 Granted 1.5 $17.44 Converted RSUs9.7 $13.23 Vested(4.6)$13.12 Forfeited(0.9)$12.86 Balance at end of period19.2 $12.41 The following table summarizes additional information regarding RSUs:Nine Months Ended September 30,20252024Weighted-average fair value per share of RSUs granted and converted$13.80 $11.52 Total grant date fair value of RSUs vested$61.5 $— Total intrinsic value of RSUs released$78.2 $— As of September 30, 2025, total unrecognized stock-based compensation expense related to unvested RSUs was $171.3 million and is expected to be recognized over a weighted-average period of 3.6 years.PRSUsThe Company grants PRSUs which include a service-based vesting condition and a market condition for exercisability. The service condition is subject to the employee’s continued employment with the Company through the applicable vesting date. The vesting of certain PRSUs is also subject to achievement of performance goals relating to the Company’s total stock return compared to the total stock return ranking of each company that is