Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 185

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 185
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31, 2023 was $8.6 million, and the value of issued shares withheld to satisfy option exercise price was $2.7 million.Non-Employee Share-Based Compensation. Non-employee share-based transactions relate to the granting of RSUs to members of the independent sales force (“agent equity awards”). Agent equity awards are generally granted as a part of quarterly contests for successful life insurance policy acquisitions and for sales of investment and savings products for which the grant and the service period occur within the same quarterly reporting period.The following table summarizes non-employee RSU activity during the years ended December 31, 2024, 2023, and 2022: 

        Shares

        Weighted-average measurement-date fair value per share

        (Shares in thousands)

        Unvested non-employee RSUs, December 31, 2021

        31

        $
        154.59

        Granted

        118

        129.99

        Vested

        (117
        )

        133.25

        Unvested non-employee RSUs, December 31, 2022

        32

        141.60

        Granted

        79

        189.64

        Vested

        (86
        )

        167.07

        Unvested non-employee RSUs, December 31, 2023

        25

        205.67

        Granted

        59

        255.05

        Vested

        (68
        )

        232.49

        Unvested non-employee RSUs, December 31, 2024

        16

        271.72

103

Agent equity awards are measured using the fair market value at the grant date and vest during the service period, which occur within the same quarterly reporting period.  To the extent that these awards are an incremental direct cost of successful acquisitions of life insurance policies that result directly from and are essential to the policy acquisition(s) and would not have been incurred had the policy acquisition(s) not occurred, we defer and amortize the fair value of the awards in the same manner as other deferred policy acquisition costs. All agent equity awards that are not directly related to the acquisition of life insurance policies are recognized as expense in the quarter granted and earned.Details on the granting and valuation of these awards were as follows: 

        Year ended December 31,

        2024