Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 110

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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 PRSUs that relate to a TSR performance objective was determined using a Monte Carlo simulation analysis.The expected volatility of the common stock is estimated based on the historical volatility rate for the preceding three-yearperformance period. The dividend yield assumption was based on anticipated dividend payouts.The Company recognized stock compensation expense related to LTIP awards of $2.9 million and $3.6 million for the three months ended March 31, 2025 and 2024, respectively.  As of March 31, 2025, the Company had $17.3 million of total unrecognized compensation cost related to unvested LTIP Awards granted under the Company’s stock compensation plans. That cost is expected to be recognized over a remaining weighted average period of 2.4 years.All currently outstanding and unvested RSU LTIP Awards provided to the executive officers, senior management, and certain other employees were issued under the 2013 Plan, 2024 Plan or as inducement awards. Deferred Stock Compensation Plan For DirectorsThe Amended and Restated Deferred Compensation Plan for Directors, which commenced January 1, 1999, allows non-employee directors of the Company to elect to defer up to 100 percent of their annual retainer fee into deferred stock units. The deferred stock units are convertible into an equal number of shares of common stock upon the directors’ termination of service from the Board of Directors or a change in control of the Company, as defined in the plan. Deferred stock units are credited to each director quarterly using the closing price of the Company’s common stock on the applicable dividend record date for the respective quarter. Each participating director’s account is also credited for an equivalent amount of deferred stock units based on the dividend rate for each quarter.During the three months ended March 31, 2025 and 2024, deferred stock units earned were 6,320 and 7,109, respectively.   As of March 31, 2025 and December 31, 2024, there were 110,635 and 104,315 deferred stock units outstanding, respectively.EARNINGS PER SHARE/UNITBasic EPS or EPU excludes dilution and is computed by dividing net income available to common shareholders or unitholders by the weighted average number of shares or units outstanding for the period. Diluted EPS or EPU reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into 

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common stock. In the calculation of basic and diluted EPS and EPU, a