Company: KNSL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001669162-25-000010
Chunk: 150

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 150
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 the Company's restricted stock awards granted during the years ended December 31, 2024, 2023 and 2022 was $502.43, $313.35 and $211.86, respectively. The fair value of restricted stock awards that vested during the year ended December 31, 2024, 2023 and 2022 was $20.0 million, $12.8 million and $10.0 million, respectively. As of December 31, 2024, the Company had $28.3 million of total unrecognized stock-based compensation expense expected to be charged to earnings over a weighted-average period of 2.2 years.Subsequent EventsThe Board of Directors granted 3,186 restricted stock awards on January 1, 2025 under the 2016 Incentive Plan to the Company’s non-employee directors. The restricted stock awards had a fair value on the date of grant of $465.13 per share and will vest on the first anniversary date of the grant.On February 10, 2025, the Company’s Board of Directors declared a cash dividend of $0.17 per share of common stock. This dividend is payable on March 13, 2025 to all stockholders of record on February 27, 2025.

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10.    Earnings per share

The following table represents a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations contained in the consolidated financial statements: Year ended December 31,202420232022(in thousands, except per share data)Net income$414,843 $308,093 $159,114 Weighted average common shares outstanding - basic23,15323,04522,815Dilutive effect of shares issued under stock compensation arrangements:Stock options136 214 269 Restricted stock awards43 48 41 Total dilutive effect of shares issued under stock compensation arrangements179 262 310 Weighted average common shares outstanding - diluted23,332 23,307 23,125 Earnings per common share:Basic$17.92 $13.37 $6.97 Diluted$17.78 $13.22 $6.88 There were 43,000, 1,000 and zero anti-dilutive stock awards for the years ended December 31, 2024, 2023 and 2022.

Basic earnings per share was computed by dividing the earnings attributable to the