Company: GGG
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000042888-25-000011
Chunk: 88

Company: GRACO INC
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 88
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,294 71.87  $    80-100 877 9.289.24 14 89.77  $    20-100 9,139 5.2$55.60 6,582 $47.16 The aggregate intrinsic value of exercisable option shares was $243 million as of December 27, 2024 with a weighted average contractual term of 4 years. There were approximately 9.1 million vested share options and share options expected to vest as of December 27, 2024 with an aggregate intrinsic value of $265 million, a weighted average exercise price of $55.60 and a weighted average contractual term of 5.2 years.Information related to options exercised as follows (in thousands):202420232022Cash received$49,566 $40,708 $15,739 Aggregate intrinsic value84,328 61,624 28,193 Tax benefit realized17,675 12,605 6,020 Employee Stock Purchase Plan. Under the Company’s Employee Stock Purchase Plan, the purchase price of the shares is the lesser of 85 percent of the fair market value on the first day or the last day of the plan year. Under this plan, the Company issued 330,413 shares in 2024, 322,764 shares in 2023 and 316,250 shares in 2022.Authorized Shares. In April 2019, shareholders of the Company approved the Graco Inc. 2019 Stock Incentive Plan. The Plan provides for issuance of up to 15 million shares of Graco common stock. Shares authorized for issuance under the stock option and purchase plans are shown below (in thousands):Total SharesAuthorizedAvailable for Future Issuance as of December 27, 2024Stock Incentive Plan (2019)15,000 9,095 Employee Stock Purchase Plan (2006)21,000 11,110 Total36,000 20,205 Amounts available for future issuance exclude outstanding options. Options outstanding, as of December 27, 2024, include options granted under two plans that were replaced by subsequent plans. No shares are available for future grants under those plans.Share-based Compensation. The Company recognized share-based compensation cost as follows (in thousands):202420232022Share-based compensation$31,892 $30,229 $24,695 Tax benefit3,295 3,