Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 146

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 146
---
$58.1 Total intrinsic value of RSUs released$73.0 There were no RSUs granted or vested during the six months ended June 30, 2024. As of June 30, 2025, total unrecognized stock-based compensation expense related to unvested RSUs was $176.9 million and is expected to be recognized over a weighted-average period of 3.7 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 in the S&P 500 index. The performance goals for a portion of the PRSUs will be measured over a cumulative performance period ending on December 31, 2028, and the performance goals for the remainder of the PRSUs will be measured based on designated performance periods that occur within such cumulative period.The following table summarizes the market-based conditions: Percentile Position vs.S&P 500 Index CompaniesUnits Earned as aPercentage of TargetBelow 55th Percentile— %55th Percentile100 %65th Percentile150 %75th Percentile175 %80th Percentile200 %90th Percentile225 %The following table summarizes the activity related to the Company’s PRSUs for the six months ended June 30, 2025:(in millions, except for weighted average grant date fair value)Number of PRSUsWeighted Average Grant Date Fair ValueBalance at beginning of period8.4 $20.24 Granted 0.3 15.06 Balance at end of period8.7 $20.08 As of June 30, 2025, total unrecognized stock-based compensation expense related to unvested PRSUs was $126.6 million and is expected to be recognized over a weighted-average period of 3.2 years.

25

The fair value of PRSUs with a market condition is determined on the date of grant using a Monte Carlo model to simulate total stockholder return for the Company and peer companies. The following assumptions were used in the Monte Carlo model in determining the fair value of PRSUs granted during the six months ended June 30, 2025:Performance period3