Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 135

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 135
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3 was zero, an insignificant amount and zero, respectively. All options issued under the Company’s Equity Participation Plan have an exercise price equal to the fair market value of the Company’s stock on the date of the grant. The Company recorded no excess tax benefits during fiscal years 2025, 2024 and 2023. A summary of market-based performance stock option activity for fiscal year 2025 is presented below:  

         Number ofShares (1)

         WeightedAverageExercise Priceper Share

         Weighted AverageRemainingContractualTerm in Years

         AggregateIntrinsicValue(In thousands)

         Outstanding at March 31, 2024

         3,356,983

         $
         31.29

         Market-based performance options granted
          
         —

         —

         Market-based performance options canceled

         (793,978
         )

         33.84

         Market-based performance options exercised

         —

         —

         Outstanding at March 31, 2025

         2,563,005

         $
         30.50

         3.8

         $
         —

         Vested and exercisable at March 31, 2025

         —

         $
         —

         —

         $
         —

        (1) Number of shares is based on the target number of options under each market-based performance stock option.Restricted stock units. RSUs represent a right to receive shares of common stock at a future date determined in accordance with the participant’s award agreement. There is no exercise price and no monetary payment required for receipt of RSUs or the shares issued in settlement of the award. Instead, consideration is furnished in the form of the participant’s services to the Company. RSUs generally vest over three or four years (except for one-year for certain RSUs granted to the members of the Company’s Board of Directors). Compensation cost for these awards is based on the fair value on the date of grant and is recognized as compensation expense on a straight-line basis over the requisite service period. For fiscal years 2025, 2024 and 2023, the Company recognized $56.6 million, $57.4 million and $59.1 million, respectively, in stock-based compensation expense related to RSU awards.The per unit weighted average grant date fair value of RSUs granted during fiscal years 2025, 2024 and 2023 was $15.77, $29.21 and $35.04, respectively. A summary of