Company: ASC
Filing Date: 2025-11-05
Form Type: 6-K
Source: 0001104659-25-106687
Chunk: 29

Company: Ardmore Shipping Corp
Filing Date: 2025-11-05
Form: 6-K
Chunk 29
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 leases, the Company has elected to combine lease and non-lease components on the condensed consolidated balance sheets and statements of operations.

6. Share-based Compensation

Time Restricted stock units (“TRSUs”)

Changes in the TRSUs for the nine months ended September 30, 2025 are set forth below:

| ​                                                             
 ​                                                             
 ​                                                             
 ​                                                             | ​ 
 ​ 
 ​ |         ​ 
         ​ 
 Number of 
     TRSUs | ​ 
 ​ 
 ​ | ​                   
 Weighted average    
 fair value at grant 
 date                |     ​ |
|:--------------------------------------------------------------|:--|----------:|:--|:--------------------|------:|
| Balance as of January 1, 2025                                 |   |   283,757 |   | $                   | 13.04 |
| TRSUs granted during the nine months ended September 30, 2025 | ​ |   170,481 | ​ | $                   |  9.53 |
| TRSUs vested during the nine months ended September 30, 2025  | ​ |  -216,425 | ​ | $                   | -8.13 |
| Balance as of September 30, 2025 (none of which are vested)   |   |   237,813 | ​ | $                   | 11.62 |

The total cost related to non-vested TRSU awards expected to be recognized through 2028 is set forth below in thousands of U.S. Dollars:

| ​       
 Period  | ​ | ​ 
 ​ |     ​ 
 TOTAL |
|:--------|:--|:--|------:|
| 2025(1) | ​ | $ |   403 |
| 2026    | ​ | ​ | 1,040 |
| 2027    | ​ | ​ |   443 |
| 2028    | ​ | ​ |    63 |
| ​       | ​ | $ | 1,949 |

| (1) | Three-month period ending December 31, 2025 |

F-13

Ardmore Shipping Corporation Notes to the Unaudited Interim Condensed Consolidated Financial Statements For the nine months ended September 30, 2025 and September 30, 2024 (Expressed in thousands of U.S. Dollars, except for shares and as otherwise stated)

6. Share-based Compensation (continued)

Performance-Based Restricted stock units (“PRSUs”