Company: MGRC
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023116
Chunk: 31

Company: MCGRATH RENTCORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 31
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 2016 Plan or awards classified as liabilities in the year ended December 31, 2024.For the years ended December 31, 2024, 2023 and 2022, the share-based compensation expense was $9.5 million, $8.3 million and $8.0 million, respectively, before provision for income taxes. The Company recorded a tax benefit of approximately $2.6 million, $2.2 million and $2.2 million, respectively, related to the aforementioned share-based compensation expenses.  There was no capitalized share-based compensation expense in the years ended December 31, 2024, 2023 and 2022.  Restricted Stock UnitsThe following table summarizes the activity of the Company’s RSUs, which includes service-based and performance-based awards, for the three years ended December 31, 2024:

        Weighted-

        Aggregate

        average

        intrinsic

        Number

        grant date

        value

        of shares

        fair value

        (in millions)

        Balance at December 31, 2021

        217,408

        $
        67.63

        RSUs granted

        95,028

        77.79

        RSUs vested

        (114,274
        )

        58.30

        RSUs cancelled/forfeited/expired

        (10,754
        )

        70.10

        Balance at December 31, 2022

        187,408

        76.74

        RSUs granted

        92,320

        103.56

        RSUs vested

        (86,402
        )

        50.98

        RSUs cancelled/forfeited/expired

        (21,649
        )

        82.69

        Balance at December 31, 2023

        171,677

        92.18

        RSUs granted

        101,340

        114.64

        RSUs vested

        (90,070
        )

        85.14

        RSUs cancelled/forfeited/expired

        (1,913
        )

        95.33

        Balance at December 31, 2024

        181,034

        $
        108.05

        $
        20.2

       Performance-based RSUs issued prior to 2018