Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 135

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 135
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Date Fair ValueNon-vested as of January 1, 2024409,234 $23.06 Granted255,988 $17.45 Vested(233,121)$14.83 Forfeited(6,413)$12.70 Non-vested as of December 31, 2024425,688 $24.36 The weighted-average grant date fair value of restricted stock and RSUs granted during the years ended December 31, 2024, 2023 and 2022 was $17.45, $16.11 and $9.46, respectively. The total fair value of restricted stock and RSUs vested during the years ended December 31, 2024, 2023 and 2022 was $3,456, $1,642 and $9,153, respectively.As of December 31, 2024, unrecognized compensation expense for restricted stock and RSUs amounted to $4,381. Such cost is expected to be recognized over a weighted-average period of approximately 1.7 years.Performance-Vested Restricted Stock UnitsThe actual number of PUs that will vest depends on the Company’s achievement of target performance goals related to the Company’s ROIC and total shareholder return over a performance period, which may range from 0% to 200% of the target award amount. The PUs cliff vest at the end of their three-year performance period or vest ratably over three years after their initial two-year performance period. PUs that are expected to be settled in shares of the Company’s common stock are accounted for as equity awards, and the fair value is determined based on the closing price of the common stock on the date of grant and a contemporaneous valuation by an independent valuation specialist with respect to the total shareholder return PUs. PUs that are expected to be settled in cash are accounted for as liability awards.A summary of activity for PUs transactions and related information for the year ended December 31, 2024 was as follows:Stock Settled Performance UnitsCash Settled Performance UnitsWeighted Average Grant Date Fair ValueNon-vested as of January 1, 2024121,124 297,136 $15.69 Granted317,885 97,766 $8.38 Forfeited— (5,698)$13.56 Non-vested as of December 31, 2024439,009 389,204