Company: KNSL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001669162-25-000043
Chunk: 80

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 8
Chunk 80
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 per share. The options have a maximum contractual term of 10 years 

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Table of Contents

and vested in 4 equal annual installments following the date of the grant. The value of the options granted was estimated at the date of grant using the Black-Scholes pricing model. A summary of option activity as of June 30, 2025, and changes during the period then ended are presented below:Number of SharesWeighted-Average Exercise PriceWeighted-Average Remaining Years of Contractual TermAggregate Intrinsic Value (in thousands)Outstanding at January 1, 2025118,468 $16.00 Granted— — Forfeited— — Exercised(29,903)16.00 Outstanding at June 30, 202588,565 $16.00 1.1$41,440 Exercisable at June 30, 202588,565 $16.00 1.1$41,440 

The total intrinsic value of options exercised was $13.3 million and $33.0 million during the six months ended June 30, 2025 and 2024, respectively. 

9.    Earnings Per Share 

The following represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the condensed consolidated financial statements: Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands, except per share data)Net income$134,121 $92,579 $223,348 $191,520 Weighted average common shares outstanding – basic23,175 23,165 23,172 23,137 Effect of potential dilutive securities:Conversion of stock options92 130 100 150 Conversion of restricted stock24 34 29 45 Weighted average common shares outstanding – diluted23,291 23,329 23,301 23,332 Earnings per common share:Basic$5.79 $4.00 $9.64 $8.28 Diluted$5.76 $3.97 $9.59 $8.21 

There were 32,000 and 44,000 anti-dilutive stock awards for the three months ended June 30, 2025 and 2024, respectively. There were 57,000 and 44,000 anti