Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 206

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 206
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 PRSU awards granted(1,420,833)Available for issuance as of December 31, 2024756,984 

F-57

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024(in thousands, except share data)

Restricted Stock Units (RSUs) and Stock AwardsThe Company values RSUs at their grant-date fair value as measured by Tiptree’s common stock price. Generally, the Tiptree RSUs vest and become non-forfeitable either (i) after the third anniversary, or (ii) with respect to one-third of Tiptree shares granted on each of the first, second and third year anniversaries of the grant date. RSU awards are expensed using the straight-line method over the requisite service period. The RSUs include a retirement provision and are amortized over the lesser of the service condition or expected retirement date. Stock awards issued as director compensation are deemed to be granted and immediately vested upon issuance. The following table presents changes to the issuances of RSUs under the 2017 Omnibus Incentive Equity Plan for the periods indicated:Number of shares issuableWeighted average grant date fair valueUnvested units as of December 31, 2021599,012 $6.59 Granted247,093 12.83 Vested(339,822)7.13 Forfeited (5,276)10.10 Unvested units as of December 31, 2022501,007 $9.63 Granted111,427 16.09 Vested(359,203)8.38 Unvested units as of December 31, 2023253,231 $14.25 Granted95,170 16.37 Vested(48,280)14.76 Forfeited(12,437)16.66 Unvested units as of December 31, 2024 (1)287,684 $15.22 (1)         Includes 139,888, 76,930 and 70,866 shares that vest in 2025, 2026 and 2027, respectively.The following tables present the detail of the granted and vested RSUs for the periods indicated:For the Year Ended December 31,For the Year Ended December 31,Granted202420232022Vested202420232022Directors16,810