Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 134

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 134
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, 2024 was $0.7 million, which was determined based on the market value of our stock as of that date.Restricted Stock UnitsThe RSUs granted under the 2020 Plan to the Company’s employees or certain service providers generally vest in four equal annual installments beginning one year after the date of the grant, while RSUs issued to the Company’s independent directors vest on or around the one-year anniversary from the grant date. The Company recognized compensation expense for all RSUs of approximately $3.3 million, $2.9 million and $1.8 million for the years ended December 31, 2024, 2023 and 2022, respectively, which is included in salaries and benefits in the consolidated statements of income and comprehensive income. As of December 31, 2024, unrecognized compensation expense of approximately $6.9 million is expected to be recognized over a weighted-average period of 1.9 years.

F-25

A summary of the RSU grant activity during the year ended December 31, 2024 is presented below:Number of RSUsWeighted-AverageGrant PriceOutstanding (nonvested) at December 31, 2023376,950 $20.25 Granted(1)294,910 $20.74 Vested(164,822)$19.65 Forfeited(74,722)$20.87 Outstanding (nonvested) at December 31, 2024432,316 $20.71 (1) The aggregate fair value of all RSUs granted during the year ended December 31, 2024 was approximately $6.1 million, which was determined based on the market value of our stock as of that date.Share AwardsDuring the years ended December 31, 2024, 2023 and 2022, 1,803 and 3,617 and 3,444 fully vested shares, respectively, were granted to the Lead Independent Director and Chairs of the Committees of the Board of Directors. Compensation expense related to the fully vested share awards of $20.1 thousand, $80.5 thousand and $72.3 thousand for the years ended December 31, 2024, 2023 and 2022, respectively, was recorded and included in salaries and benefits in the consolidated statements of income and comprehensive income. Effective in the second quarter of 2024, the grant of share awards to certain of