Company: BHE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025644
Chunk: 85

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 85
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-based awards were as follows: 

          (in thousands)
           
          Time-Based RestrictedStock Units

          Performance-Based RestrictedStock Units(1)

          Unrecognized compensation cost
           
          $
          22,755

          $
          3,909

          Remaining weighted-average amortization period
           
          2.0 years

          2.1 years

         (1)Based on the probable achievement of the performance goals identified in each award.The total cash received as a result of stock option exercises in 2024, 2023 and 2022 was $0.5 million, $0.1 million and $0.7 million, respectively. The actual tax benefit realized as a result of stock option exercises and the vesting of other share-based awards during 2024, 2023 and 2022 was $3.7 million, $2.7 million and $2.5 million, respectively. For 2024, 2023 and 2022, the total intrinsic value of stock options exercised was $0.3 million, $0.1 million and $0.5 million, respectively.The Company awarded performance-based restricted stock units to employees during 2024, 2023 and 2022. The number of performance-based restricted stock units that will ultimately be earned will not be determined until the end of the corresponding performance periods and may vary from as low as zero to as high as 2.5 times the target number depending on the level of achievement of certain performance goals. The level of achievement of these goals is based upon the financial results of the Company for the last full calendar year within the performance period. The performance goals consist of certain levels of achievement using the following financial metrics: revenue, operating income margin, and return on invested capital. If the performance goals are not met based on the Company’s financial results, the applicable performance-based restricted stock units will not vest and will be forfeited. Shares subject to forfeited performance-based restricted stock units will become available for issuance under the Company’s 2019 Omnibus Incentive Compensation Plan (the 2019 Plan).(n) Use of EstimatesManagement of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in accordance with U.S. GAAP. However, actual results could differ materially from these estimates. On an ongoing basis, management evaluates these estimates, including those related to accounts