Company: SLGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000849869-25-000072
Chunk: 17

Company: SILGAN HOLDINGS INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 At March 31, 2025, we had approximately $93.3 million remaining under this authorization for the repurchase of our common stock. During the first three months of 2025, we issued 325,808 treasury shares which had an average cost of $3.20 per share for restricted stock units that vested during the period that had been previously issued under our stock-based compensation plans. In accordance with the applicable agreements for such restricted stock units, we repurchased 127,278 shares of our common stock at an average cost of $54.00 to satisfy minimum employee withholding tax requirements resulting from the vesting of such restricted stock units.We account for treasury shares using the first-in, first-out (FIFO) cost method. As of March 31, 2025, 68,119,316 shares of our common stock were held in treasury.

Note 13.             Stock-Based Compensation

We currently have one stock-based compensation plan in effect under which we have issued restricted stock units to our officers, other key employees and outside directors. During the first three months of 2025, 701,800 restricted stock units were granted to certain of our officers and other key employees. The fair value of these restricted stock units at the grant date was $37.9 million, which is being amortized ratably over the respective vesting period from the grant date.

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SILGAN HOLDINGS INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Information at March 31, 2025 and 2024 and for thethree months then ended is unaudited)

Note 14.             Segment Information

Our chief operating decision maker, who is our Chief Executive Officer and President, evaluates performance of our business segments and allocates resources based on the adjusted EBIT of our business segments. Adjusted EBIT is not a defined term under GAAP. We define adjusted EBIT as income before interest and income taxes excluding acquired intangible asset amortization expense, other pension (income) expense for U.S. pension plans, rationalization charges and costs attributed to announced acquisitions and including, as applicable, equity in earnings of affiliates, net of tax. Adjusted EBIT should not be considered in isolation or as a substitute for income before interest and income taxes or any other financial data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.Reportable segment information was as follows:Dispensing