Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 86

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 86
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217,917 68.07 Lapsed or canceled— — — — Balance at end of period333,897 $81.63 333,897 $81.63 Options exercisable at end of period115,980 $103.52 115,980 $103.52 The remaining weighted average contractual life of the options outstanding was 6.7 years and the remaining average contractual life of the options exercisable was 1.7 years.During the three months ended March 31, 2025, we recognized $0.4 million compensation expense related to options. As of March 31, 2025, there was $4.1 million unrecognized compensation cost related to unvested stock options.Restricted SharesShares may be granted to certain employees, including our executives, and vesting occurs upon the completion of a service period or our meeting established financial performance criteria. Vesting occurs at rates ranging from 15% to 35% once performance criteria are reached.A summary of the Company's restricted stock as of March 31, 2025 and December 31, 2024 and changes during the three months ended March 31, 2025 and the year ended December 31, 2024, are as follows:March 31, 2025December 31, 2024Balance at beginning of period4,449,709 4,089,174 Granted— 371,285 Canceled(1,060)(10,750)Balance at end of period4,448,649 4,449,709 Vested during the period226,806 143,453 Compensation expense recorded$3,797,376 $10,939,602 Total fair value of restricted stock granted during the period$— $24,676,422 The fair value of restricted stock that vested during the three months ended March 31, 2025 and the year ended December 31, 2024 was $10.9 million and $7.4 million, respectively. As of March 31, 2025, there was $28.7 million of total unrecognized compensation cost related to restricted stock, which is expected to be recognized over a weighted average period of 2.1 years.We granted LTIP Units, which include bonus, time-based and performance-based awards, with a fair value of $16.6 million and $34.1 million as of March 31, 2025 and