Company: BCO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000078890-25-000312
Chunk: 24

Company: BRINKS CO
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 effective May 2024. No further grants of awards will be made under the 2017 Plan.

We have outstanding deferred stock units granted to directors under the 2017 Plan and the 2024 Plan. Share-based awards were previously granted to directors and remain outstanding under the Non-Employee Directors' Equity Plan and the Directors’ Stock Accumulation Plan, each of which has expired.

Outstanding awards at September 30, 2025 include performance stock units, restricted stock units, deferred stock units, time-based stock options and certain awards that will be settled in cash.

Compensation Expense

Compensation expense is measured using the fair-value-based method. For all share-based awards outstanding at September 30, 2025, the retirement eligibility provisions require a minimum of a one year service period in order to meet the retirement eligible conditions. We recognize expense from the grant date to the earlier of the retirement-eligible date (provided it is not less than one year from the grant date) or the vesting date.

For awards considered liability awards, compensation cost is based on the change in the fair value of the instrument for each reporting period and the percentage of the requisite service that has been rendered.

Compensation expenses are classified as selling, general and administrative expenses in the condensed consolidated statements of operations. Compensation expenses for the share-based awards were as follows:

                                                   Compensation Expense                                       Compensation Expense                                   
                                                   Three Months Ended September 30,                           Nine Months Ended September 30,                        
  (In millions)                                    2025                                             2024      2025                                             2024  
  Performance stock units                          $                                     2.0         4.7      $                                     9.7        15.5  
  Restricted stock units                           2.4                                               2.5      7.8                                               7.6  
  Deferred stock units and fees paid in stock      0.5                                               0.3      1.2                                               1.0  
  Cash based awards                                1.0                                               0.9      1.8                                               2.3  
  Share-based payment expense                      5.9                                               8.4      20.5                                             26.4  
  Income tax benefit                               ( 1.4)                                         ( 1.9)      ( 4.7)                                         ( 6.0)  
  Share-based payment expense, net of tax          $                                     4.5         6.5      $