Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 326

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 326
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 cash dividends are paid on the restricted stock units.  Those cash dividends are then paid to purchase additional shares of restricted stock units.  Dividends earned as additional shares of restricted stock units have the same terms as the associated grant. The dividends paid on the stock are recorded as a reduction to retained earnings, similar to all dividend transactions.  Dividends are not paid on performance-based restricted stock units.The table below discloses the status of the service-based restricted stock units during 2024: 

        Number of Units

        Weighted Average Price Per Unit

        Service-Based Restricted Stock Units Under the OICP

        Nonvested - December 31, 2023

        365,110

        $
        88.47

        Granted

        193,029

        79.79

        Canceled

        (20,485
        )

        85.58

        Vested

        (170,669
        )

        86.40

        Nonvested - December 31, 2024

        366,985

        $
        85.03

      As of December 31, 2024, there was $13.0 million of unrecognized compensation cost related to the nonvested service-based restricted stock units. The cost is expected to be recognized over a period of 1.6 years. 

116

Total fair value of units vested during the years ended December 31, 2024, 2023, and 2022 was $14.1 million, $9.7 million, and $11.4 million, respectively.The table below discloses the status of the performance-based restricted stock units during 2024: 

        Number of Units

        Weighted Average Price Per Unit

        Performance-Based Restricted Stock Units Under the OICP

        Nonvested - December 31, 2023

        145,132

        $
        70.92

        Granted

        66,306

        73.42

        Canceled

        (6,734
        )

        79.91

        Vested

        (97,846
        )

        70.92

        Performance-based adjustment

        48,923

        70.92

        Nonvested - December 31, 2024

        155,781

        $
        71.60

      As of December 31, 2024,