Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 64

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 64
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485,954 options were granted to 167 other key employees. During fiscal 2023, 384,212 options were granted to 13 executive officers and 570,037 were granted to 167 other key employees.

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The weighted average grant date fair value of options granted in fiscal 2025, 2024 and 2023 was $18.52, $19.27 and $24.46, respectively. The total intrinsic value of options exercised during fiscal 2025, 2024 and 2023 was $1 million, $1 million and $1 million, respectively.Restricted Stock UnitsDuring fiscal 2025, 2024 and 2023, 382,928, 1,146,158 and 917,560 restricted stock units, respectively, were granted to employees, the majority of which will vest ratably over a three-year period. Some of these restricted stock units were granted with dividend equivalents. The fair value of each restricted stock unit award granted with a dividend equivalent is based on the company’s stock price as of the date of grant. For restricted stock unit awards granted without dividend equivalents, the fair value was reduced by the present value of expected dividends as of the grant date during the vesting period. The weighted average grant date fair value per share of restricted stock units granted during fiscal 2025, 2024 and 2023 was $75.83, $74.52 and $75.66, respectively. The total fair value of restricted stock units vested during fiscal 2025, 2024 and 2023 was $55 million, $52 million and $44 million, respectively. The total intrinsic value of restricted stock units vested during fiscal 2025, 2024 and 2023 was $54 million, $54 million and $47 million, respectively.Non-Employee Director AwardsDuring fiscal 2025, 2024 and 2023, 28,127, 29,115 and 22,055 restricted equity awards, respectively, were granted to non-employee directors (NEDs), which will vest over a one-year period. NEDs may elect to receive these awards in restricted stock shares that will vest at the end of the award stated vesting period or as deferred units that convert into shares of Sysco common stock on a date subsequent to the award stated vesting date selected by the NED. The fair value of the restricted awards is based on the company’s stock price as of the