Company: KNSL
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001669162-25-000058
Chunk: 22

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1
Chunk 22
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 the grant of stock options, restricted stock, restricted stock units, and other stock-based awards to officers, employees, directors, independent contractors, and consultants.No additional awards will be issued under the 2016 Incentive Plan, and shares remaining available under that plan will not roll forward to the 2025 Incentive Plan. The maximum number of shares of the Company's common stock reserved and available for issuance under the 2025 Incentive Plan is 860,500 plus any shares subject to awards outstanding under the 2016 Incentive Plan as of May 22, 2025 that are subsequently forfeited or settled in cash. There were no shares granted under the 2025 Incentive Plan during the nine months ended September 30, 2025.The total compensation cost that has been charged against income for share-based compensation arrangements was $13.2 million and $10.7 million for the nine months ended September 30, 2025 and 2024, respectively.Restricted Stock AwardsDuring the nine months ended September 30, 2025, the Company granted restricted stock awards under the 2016 Incentive Plan. The restricted stock awards were valued on the date of grant and will vest over a period of 1 to 4 years corresponding to the anniversary date of the grants. The fair value of restricted stock awards was determined based on the closing trading price of the Company's shares on the grant date or, if no shares were traded on the grant date, the last preceding date for which there was a sale of shares. Except for restrictions placed on the transferability of restricted stock, holders of unvested restricted stock have full stockholder’s rights, including voting rights and the right to receive dividends. Unvested shares of restricted stock awards and accrued dividends, if any, are forfeited upon the termination of service to or employment with the Company. A summary of restricted stock activity for the nine months ended September 30, 2025 is as follows:Nine Months Ended September 30, 2025Number of SharesWeighted Average Grant Date Fair Value per ShareNon-vested outstanding at the beginning of the period110,123 $366.73 Granted59,963 $433.62 Vested(43,685)$322.04 Forfeited(1,804)$368.69 Non-vested outstanding at the end of the period124,597 $414.56 Employees surrender shares to pay for withholding tax obligations resulting from