Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 133

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 133
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 the Company’s common stock, we use the closing market price of our common stock at the grant date. We also use an expected volatility based on the historical volatility of the Company’s common stock and the “simplified” method for calculating the expected life of our stock options as the options are “plain vanilla” and we do not have any significant historical post-vesting activity. We have elected to account for forfeitures as they occur. The risk-free interest rates are obtained from publicly available U.S. Treasury yield curve rates.Share-based compensation is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The stock options issued under the Plans have 10-year terms and generally vest in four equal annual installments beginning one year after the date of the grant. The Company recognized compensation expense for stock options of approximately $0.1 million, $0.5 million and $1.4 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, there is no unrecognized compensation expense related to stock options.A summary of the stock option activity during the year ended December 31, 2024 is presented below:Number ofOptionsWeighted-AverageExercise Price Weighted-AverageRemaining ContractualTerm (Years)Weighted-AverageGrant DateFair ValueOutstanding at December 31, 2023588,675 $11.49 5.23$4.18 Granted— $— $— Exercised(1)(435,850)$11.27 $4.12 Forfeited— $— $— Expired(1,700)$9.91 $3.43 Outstanding at December 31, 2024151,125 $12.13 4.36$4.35 Exercisable at December 31, 2024(2)151,125 $12.13 4.36$4.35 (1) The aggregate intrinsic value of stock options exercised during the years ended December 31, 2024, 2023 and 2022 was $4.0 million, $1.3 million, and $7.4 million respectively.(2) The aggregate fair value of all vested/exercisable options outstanding as of December 31