Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 185

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 185
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 to increase the number of shares of the Company's Class A common stock available for issuance from 1,500,000 to 3,000,000 shares. As of March 31, 2025, equity awards with respect to 1,567,739 shares of the Company's Class A common stock were available for grant under the 2020 Inducement Plan.Share-based compensation expense includes the estimated effects of forfeitures, which will be adjusted over the requisite service period to the extent actual forfeitures differ or are expected to differ from such estimates.

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i3 VERTICALS, Inc.NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

A summary of stock option activity for the six months ended March 31, 2025 is as follows:Stock OptionsWeighted Average Exercise PriceOutstanding at September 30, 20249,120,944 $24.48 Granted50,000 24.11 Exercised(400,965)21.86 Forfeited(78,343)26.89 Outstanding at March 31, 20258,691,636 $24.58 Exercisable at March 31, 20257,370,339 $25.11 The weighted-average grant date fair value of stock options granted during the six months ended March 31, 2025 was $13.07. As of March 31, 2025, total unrecognized compensation expense related to unvested stock options, including an estimate for pre-vesting forfeitures, was $12,072, which is expected to be recognized over a weighted-average period of 2.5 years. The Company's policy is to account for forfeitures of stock-based compensation awards as they occur. The total fair value of stock options that vested during the three and six months ended March 31, 2025 was $6,822 and $10,031, respectively.Restricted Stock UnitsThe Company has issued Class A common stock in the form of restricted stock units ("RSUs") under the 2018 Plan. A summary of activity related to restricted stock units for the six months ended March 31, 2025 is as follows:Restricted Stock UnitsWeighted Average Grant Date Fair ValueOutstanding at September 30, 2024771,214 $22.71 Granted691,849 26.