Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 140

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 30, 2025, the Company had $13.6 million of total unrecognized compensation cost related to unvested LTIP Awards granted under the Company’s stock compensation plans. That cost is expected to be recognized over a remaining weighted average period of 2.2 years.All currently outstanding and unvested RSU LTIP Awards provided to the executive officers, senior management, and certain other employees were issued under the 2013 Plan, 2024 Plan or as inducement awards. Deferred Stock Compensation Plan For DirectorsThe Amended and Restated Deferred Compensation Plan for Directors, which commenced January 1, 1999, allows non-employee directors of the Company to elect to defer up to 100 percent of their annual retainer fee into deferred stock units. The deferred stock units are convertible into an equal number of shares of common stock upon the directors’ termination of service from the Board of Directors or a change in control of the Company, as defined in the plan. Deferred stock units are credited to each director quarterly using the closing price of the Company’s common stock on the applicable dividend record date for the respective quarters. Each participating director’s account is also credited for an equivalent amount of deferred stock units based on the dividend rate for each quarter.

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During the three months ended June 30, 2025 and 2024, deferred stock units earned were 7,220 and 6,951, respectively. During the six months ended June 30, 2025 and 2024, 13,540 and 14,060 deferred stock units were earned, respectively. As of June 30, 2025 and December 31, 2024, there were 117,855 and 104,315 deferred stock units outstanding, respectively.EARNINGS PER SHARE/UNITBasic EPS or EPU excludes dilution and is computed by dividing net income available to common shareholders or unitholders by the weighted average number of shares or units outstanding for the period. Diluted EPS or EPU reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. In the calculation of basic and diluted EPS and EPU, a redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders or unitholders is included in the calculation to arrive at the numerator of net income (loss) available to common shareholders or unitholders.The following information presents the Company’s results for the three and six months ended June 30, 2025 and