Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 65

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 65
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 units under the Plan, in contrast, will reduce the number of shares of our common stock available for future issuance under the Plan by two shares for every one restricted share or restricted stock unit awarded. As of December 31, 2024, 2,563,182 shares were available to be awarded under the Plan.We measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The cost is recognized over the period during which an employee is required to provide service in exchange for the award, usually the vesting period. Stock-based compensation expense for the years ended December 31, 2024, 2023 and 2022 recorded in selling, general and administrative expenses was $15.5 million, $15.6 million and $16.8 million, respectively.RESTRICTED STOCK UNITSRestricted stock units issued are generally accounted for as fixed grants and, accordingly, the fair value at the grant date is being amortized ratably over the respective vesting period. The maximum contractual vesting period for restricted stock units outstanding at December 31, 2024 is five years. Unvested restricted stock units may not be disposed of or transferred during the vesting period. Restricted stock units carry with them the right to receive, upon vesting, dividend equivalents.The table below summarizes restricted stock unit activity for the year ended December 31, 2024:RestrictedStock UnitsWeightedAverageGrant DateFair ValueRestricted stock units outstanding at December 31, 20231,081,565 $39.57 Granted521,672 44.66 Released(470,788)36.70 Forfeited(31,752)41.38 Restricted stock units outstanding at December 31, 20241,100,697 43.16 The weighted average grant date fair value of restricted stock units granted during 2023 and 2022 was $46.12 and $41.61, respectively. The fair value of restricted stock units released during the years ended December 31, 2024, 2023 and 2022 was $20.7 million, $25.7 million and $32.2 million, respectively.As of December 31, 2024, there was approximately $31.8 million of total unrecognized compensation expense related to restricted stock units. This cost is expected to be recognized over a weighted average period of 2.0 years.

F-38

SIL