Company: ACTG
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0000934549-25-000010
Chunk: 58

Company: ACACIA RESEARCH CORP
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 58
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 for financial statement purposes, pursuant to ASC Topic 718. The method used to calculate the aggregate grant date fair value of these awards is set forth under Notes 2 and 15 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.  For 2023, the amounts in this column do not include the June 2023 PSUs because in accordance with ASC Topic 718, the accounting cost of the PSUs had not been recorded in the Company’s financial statements as the outcome of the performance condition was not considered probable in 2023. As previously noted, together with the June 2023 PSUs, the restricted stock units were made as part of the Company’s long-term incentive program that was generally intended to cover two years of annual grants).  The grant date fair value of the PSUs, assuming that the probable performance was maximum, would have been as follows: Mr. McNulty $3,054,457; Ms. Hoover $499,641; and Mr. Soncini $788,319.  While disclosure of 2023 compensation for Mr. Rasamny is not required, because the restricted stock units granted as part of the 2023 LTI Grants, together with the June 2023 PSUs, were made as part of the Company’s long-term incentive program that was generally intended to cover two years of annual grants, we note that the grant date fair value of Mr. Rasamny’s restricted stock units granted in 2023 was $255,371 and, assuming the probable performance of his June 2023 PSUs was maximum performance, the grant date fair value would have been $510,742.  While Mr. McNulty’s Potential 2023 PSU Payout resulted in a modification of Mr. McNulty’s June 2023 PSUs under the U.S. GAAP accounting rules in 2024, there was no incremental change in fair value with respect to Mr. McNulty’s June 2023 PSUs.  Historically, the Company granted annual LTI awards in the first quarter of each year, with the amount granted reflective of individual and Company performance for the prior year. As such, in March 2023, the Company granted to executive officers, except Mr. McNulty who received a grant upon hire in 2022 and Mr. Rasamny who was hired in May 2023, LTI awards in recognition of performance in 2022.