Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 159

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 159
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Vested(276,418)24.50 (125,737)25.95 (123,867)23.41 Outstanding at December 31718,515 $20.13 562,070 $24.68 343,142 $23.41 

99

MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Performance Stock UnitsThe following table presents activity of PSUs for the years ended December 31, 2024, 2023 and 2022: 202420232022# of SharesWeighted Average Fair Value at Date of Grant# of SharesWeighted Average Fair Value at Date of Grant# of SharesWeighted Average Fair Value at Date of GrantOutstanding at January 1273,225 $24.47 320,732 $23.57 — $— Granted291,395 16.44 105,867 26.74 320,732 23.57 Forfeited(82,340)21.43 (151,186)24.12 — — Vested(59,831)20.71 (2,188)26.74 — — Outstanding at December 31422,449 $20.06 273,225 $24.47 320,732 $23.57 Basic and Diluted Shares ReconciliationThe Company uses the two-class method to calculate earnings per share. The Company has granted equity-based compensation awards that contain non-forfeitable rights to dividends or dividend equivalents on unvested shares. Since these unvested shares are considered participating securities under the two-class method, the Company allocates earnings per share to common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Diluted net income per common share is computed based on net income divided by the weighted average number of common and potential common shares outstanding. Potential common shares during the respective periods are those related to dilutive stock-based compensation, including long-term share-based incentive compensation, and directors' accumulated deferred stock compensation which may be received by the directors in the form of stock or cash. A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income per share follows (in millions, shares in thousands):Years Ended December 31, 202420232022Numerator (basic and diluted):Net