Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 211

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 211
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 value$— $0.77 

P3 Health Partners Inc. | 2024 Form 10-K | 111

The vesting criteria for 0.1 million performance-based stock option awards has not yet been achieved; therefore, no expense has been recorded.There were no stock options exercised during the years ended December 31, 2024 and 2023.The weighted average assumptions used in estimating the grant date fair value of stock options are listed in the table below:Year Ended December 31,20242023Expected volatility64.7 %60.2 %Risk-free interest rate4.2 %3.8 %Expected term6.2 years6.6 yearsDividend rate0.0 %0.0 %Time-based stock options vest ratably over a period between two and five years, so long as the optionee continues to provide services to the Company. As of December 31, 2024, there was $1.9 million and $2.1 million of unrecognized equity-based compensation cost related to unvested time-based and performance-based stock options under the 2021 Plan, respectively, which is expected to be recognized over a weighted-average period of 2.0 years and 8.0 years, respectively.The following table summarizes RSU activity under the 2021 Plan for the year ended December 31, 2024:WeightedAverageGrant DateFair ValueNumber ofUnits(in thousands)Non-vested as of December 31, 2023$1.60 4,835 Granted$0.59 1,210 Vested$1.96 (1,695)Forfeited$1.99 (663)Non-vested as of December 31, 2024$0.95 3,687 The following additional disclosures are provided for RSU awards:Year Ended December 31,20242023Weighted average grant date fair value$0.59 $1.80 Total fair value of shares vested (in thousands)$2,680 $5,826 In August 2023, the Company granted an aggregate of 2.5 million RSUs pursuant to the 2021 Plan to the Company’s then Chief Executive Officer, Dr. Abdou, and Chief Medical Officer, Dr. Bacchus (collectively, the “Executives”), in full satisfaction of the “Second Bonus” earned by each Executive during the year ended December