Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 184

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 184
---

        )

        121.42

        Vested

        (21
        )

        121.42

        Unvested employee PSUs, December 31, 2023(1)

        65

        148.94

        Granted

        15

        244.89

        Forfeited

        -

        -

        Performance Adjustment

        (6
        )

        143.04

        Vested

        (15
        )

        143.04

        Unvested employee PSUs, December 31, 2024(1)

        59

        175.70

       (1)The 2022 PSU awards outstanding are based on the actual performance for the 2022 to 2024 performance period. As a result of the performance achieved during the performance period, recipients will receive an aggregate of 28,884 shares of common stock on the vesting date of March 1, 2025, reflecting a payout rate of 109.1%. The 2023 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 25,709 shares of common stock. The 2024 PSU awards outstanding are based on target. Depending upon the performance achieved during the performance period, recipients may receive between 0 and 22,508 shares of common stock.As of December 31, 2024 the Company has $355,728 unrecognized compensation related to PSU awards.Stock Options. From 2013 to 2016, the Company issued stock options to certain of its executive officers under the OIP as part of their annual equity compensation. Stock options were granted with an exercise price equal to the fair market value of our common stock on the grant date, and they would expire 10 years from the date of grant. These options had time-based restrictions with equal and annual graded vesting over a three-year period. We did not issue any stock options and we did not have any compensation expense or related tax benefits for stock option awards during the years ended December 31, 2024, 2023 or 2022. No stock options were exercised during the year ended December 31, 2022. All remaining stock options representing approximately 60,000 shares were exercised with a weighted average exercise price of $44.62 during the year ended December 31, 2023. The intrinsic value of the options exercised during the year ended December