Company: THRM
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023344
Chunk: 68

Company: Gentherm Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 68
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 computed by this valuation method is recognized by the Company in accounting for the awards regardless of the actual future outcome of the relative TSR feature. The grant date fair value of the other PSUs and RSUs are calculated as the closing price of our Common Stock as quoted on Nasdaq on the grant date multiplied by the number of shares subject to the award. Each of ROIC, Adjusted EBITDA, Adjusted EBITDA Margin Rate and RRG are considered a performance condition and the grant-date fair value for ROIC PSUs, Adjusted EBITDA PSUs, Adjusted EBITDA Margin Rate and RRG PSUs correspond with management's expectation of the probable outcome of the performance condition as of the grant date. The Adjusted EBITDA Margin Rate PSUs and the RRG PSUs granted in 2024 are also subject to a relative TSR modifier that can adjust the total payout of PSUs by -25% if performance does not reach threshold or +25% if performance exceeds maximum. Therefore, the grant date fair value of the Adjusted EBITDA Margin Rate PSUs and RRG PSUs for 2024 were further impacted by the fair value of the relative TSR modifier.The total recognized and unrecognized stock based compensation expense is as follows: 

        Stock Based Compensation Expense
         
        2024

        2023

        2022

        Unrecognized Stock Based Compensation Expense at December 31, 2024

        Remaining Weighted Average Vesting Period

        RSUs
         
        $
        6,871

        $
        6,216

        $
        5,551

        $
        7,395

        1.92

        PSUs

        2,454

        4,661

        954

        7,795

        1.98

        Restricted Stock

        1,115

        878

        888

        402

        0.37

        SARs

        (8
        )

        (128
        )

        (794
        )

        —

        —

        Total stock based compensation
         
        $
        10,432

        $
        11,627

        $
        6,599

        $
        15,592

        1.91

      The related deferred tax benefit (expense) for the years ended December 31, 2024, 2023 and 2022 was $1