Company: TRTN-PA
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001660734-25-000034
Chunk: 13

Company: Triton International Ltd
Filing Date: 2025-11-06
Form: 6-K
Chunk 13
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, subject to the participants' continued employment or service. During the third quarter of 2025, 125additional Incentive Units were granted under this program in the form of bonus unit awards. As of September 30, 2025, the total number of Incentive Units granted under the long-term incentive program was 1,000.

The Company recognizes compensation expense for the Incentive Units on a straight line basis over the five yearvesting period based on the estimated fair value of the awards. Changes in the fair value of the awards at each reporting date are recognized as compensation expense based on the portion of the vesting or service period lapsed from the grant date through the reporting date.

As of September 30, 2025, the estimated fair value of the Incentive Units awards increased to $ 25.0million resulting from an increase in the Company's valuation as of such date. As a result, the Company recognized $ 2.0million of incremental compensation expense in Administrative expenses on the Consolidated Statements of Operations for both the three and nine month periods ended September 30, 2025 for the portion of the vesting period lapsed from grant date through the reporting date.

In addition, the Company recognized compensation expense for the three months ended September 30, 2025 and 2024 of $ 1.0million and $ 0.8million, respectively, and for the nine months ended September 30, 2025 and 2024 of $ 2.9million and $ 2.5million, respectively, in Administrative expenses on the Consolidated Statements of Operations. These amounts are reflected as Contributed capital from Parent on the Consolidated Statements of Shareholders’ Equity. Payment obligations, if any, are the responsibility of Brookfield Infrastructure.

Other Compensation

The Company recorded severance costs of $ 2.5million for both the three and nine months ended September 30, 2025 in Administrative expenses on the Consolidated Statements of Operations for certain employees in connection with their planned departures at the end of the year.

#### Note 4— Other Equity Matters
During the nine months ended September 30, 2025 and 2024, the Company paid cash dividends of $ 150.0million and $ 400.0million, respectively, on the common shares of the Company to Parent. Effective March 31, 2025, the Company distributed its equity interest in TCF VIII to Parent. For additional information on the T