Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 198

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 198
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 stock options that vested during the three and nine months ended June 30, 2025 was $688 and $10,719, respectively.In connection with the sale of the Healthcare RCM Business, the Company fully accelerated the vesting period for 40,853 options (to the extent not previously vested) held by employees of the Healthcare RCM Business immediately prior to the closing of the divestiture.Restricted Stock UnitsThe Company has issued Class A common stock in the form of restricted stock units ("RSUs") under the 2018 Plan. 

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i3 VERTICALS, Inc.NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

A summary of activity related to restricted stock units for the nine months ended June 30, 2025 is as follows:Restricted Stock UnitsWeighted Average Grant Date Fair ValueOutstanding at September 30, 2024771,214 $22.71 Granted722,649 26.33 Vested(284,257)23.65 Forfeited(46,397)23.08 Outstanding at June 30, 20251,163,209 $24.61 As of June 30, 2025, total unrecognized compensation expense related to unvested RSUs, including an estimate for pre-vesting forfeitures, was $18,812, which is expected to be recognized over a weighted average period of 2.9 years. The total fair value of RSUs that vested during the three and nine months ended June 30, 2025 was $3,037 and $7,103, respectively.In connection with the sale of the Healthcare RCM Business, the Company fully accelerated the vesting period for 96,613 RSUs (to the extent not previously vested) held by employees of the Healthcare RCM Business immediately prior to the closing of the divestiture.

14. COMMITMENTS AND CONTINGENCIES

LeasesThe Company utilizes office space and equipment under operating leases. Rent expense from continuing operations under these leases amounted to $700 and $1,557 during the three and nine months ended June 30, 2025, and $697 and $2,121 during the three and nine months ended June 30, 2024. Refer to Note 11 for further discussion and a table of the future minimum payments under these leases.LitigationWith respect to all