Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1103

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1103
---
.  Our share-based compensation and ESPP expense is included in the table below.Years Ended December 31,In millions202420232022Stock option expense$0.1 $0.6 $1.5 ESPP expense— 0.5 0.7 RSU, DSU and PSU expense11.8 9.5 13.9 Total share-based compensation expense (1)$11.9 $10.6 $16.1 Income tax benefit(2.6)(2.3)(3.1)Total share-based compensation expense, net of tax$9.3 $8.3 $13.0 _______________(1) Substantially all compensation expense related to share-based awards is recorded as a component of Selling, general and administrative expenses within the consolidated statements of operations.

78

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Stock OptionsAll stock options vest in accordance with vesting conditions set by the Compensation Committee. The Compensation Committee, with the addition of rTSR to the PSUs, did not grant stock options in 2024 or 2023. Stock options granted to date have vesting periods of one to three years from the date of grant. Incentive and non-qualified options granted under the Plan expire no later than 10 years from the grant date. Expense related to stock options granted is based on the assumptions shown in the table below:Years Ended December 31,Weighted-average assumptions used to calculate expense for stock options202420232022Risk-free interest rate— %— %1.8 %Average life of options (years)0.00.06.0Volatility— %— %40.0 %Dividend yield— — — Fair value per stock option$— $— $28.80 The following table summarizes Ingevity's stock option activity.Number of Options(in thousands)Weighted-average exercise price (per share)Weighted-average remaining contractual term (years)Aggregate intrinsic value (in thousands)Outstanding, December 31, 2023278 $63.86 5.1$863 Granted— Exercised(1)37.19 Forfeited(20)75.02 Cancelled— Outstanding, December 31, 2024257 $63.12 3.0$510