Company: KNSL
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001669162-25-000043
Chunk: 21

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Item 1
Chunk 21
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30, 2025.The total compensation cost that has been charged against income for share-based compensation arrangements was $8.5 million and $7.2 million for the six months ended June 30, 2025 and 2024, respectively.Restricted Stock AwardsDuring the six months ended June 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 six months ended June 30, 2025 is as follows:Six Months Ended June 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(1,706)$363.63 Non-vested outstanding at the end of the period124,695 $414.60 Employees surrender shares to pay for withholding tax obligations resulting from any vesting of restricted stock awards. During the six months ended June 30, 2025, shares withheld for taxes in connection with the vesting of restricted stock awards totaled 14,536. The weighted average grant-date fair value per share of the Company's restricted stock awards granted during the six months ended June 30, 2025 and 2024 was $433.62 and $502.43, respectively. The fair value of restricted stock awards that vested during the six months ended June 30, 2025 and 2024 was $19.0 million and $19.8 million, respectively. As of June 30, 2025, the Company had $45.1 million of total unrecognized stock-based compensation expense expected