Company: AXS-PE
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001214816-25-000056
Chunk: 135

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 135
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 to 200% of target.

215

AXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTSDECEMBER 31, 2024, 2023 AND 202217.    SHARE-BASED COMPENSATION (CONTINUED)

Valuation assumptionsPerformance Restricted Stock Units granted in 2024, 2023 and 2022 with a market conditionThe fair values of these performance restricted stock units were measured on the grant date using a Monte Carlo simulation model.The following table provides details of the significant inputs used in the Monte Carlo simulation model:Year ended December 31,20242023 (1)2023 (2)2023 (3)2022Expected volatility 26.00%36.24%29.30%30.05%33.44%Expected term (in years)3.03.01.03.03.0Expected dividend yieldn/an/an/an/an/aRisk-free interest rate4.06%3.79%4.61%3.39%1.26%n/a - not applicable (1) Performance restricted stock units granted in the ordinary course of business(2) Performance restricted stock units granted in the three months ended March 31, 2023 in relation to senior leadership transition(3) Performance restricted stock units granted in the three months ended June 30, 2023 in relation to senior leadership transitionBeginning share price, Ending share price and Expected termPerformance restricted stock units granted in 2024The beginning share price for awards was based on the average closing share price over the 30 trading days preceding and including the start of the performance period. The ending share price was based on the average projected closing share price over the 30 trading days preceding and including the end of the performance period. Performance for these awards is measured from January 1, 2024 to December 31, 2026.Performance restricted stock units granted in 2023 and 2022, and performance restricted stock units granted in the three months ended March 31, 2023 in relation to senior leadership transitionThe beginning share price for awards was based on the average closing share price over the 10 trading days preceding and including the start of the performance period. The ending share price was based on the projected average closing share price over the 10 trading days preceding and including the end of the performance period. Performance for awards granted in 2023 is generally measured from January 1, 2023 to December 31, 2025