Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 211

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 211
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 Vested(3,062)Forfeiture(830)Performance assumption adjustment202 Unvested balance as of December 31, 2024$19,112 Stock Based Compensation ExpenseThe following table presents total stock based compensation expense and the related income tax benefit recognized on the consolidated statements of operations: For the Year Ended December 31,202420232022Employee compensation and benefits$17,446 $7,866 $9,219 Director compensation275 409 469 Income tax benefit(3,721)(1,738)(2,034)Net stock based compensation expense$14,000 $6,537 $7,654  Additional information on total non-vested stock based compensation is as follows:As of December 31, 2024Subsidiary Stock optionsRestricted stock awards and RSUsPerformance Restricted Stock UnitsUnrecognized compensation cost related to non-vested awards (1)$15,173 $1,106 $14,223 Weighted - average recognition period (in years)1.80.61.3(1)    Includes unrecognized compensation cost of $15,173 related to stock options, $428 related to RSUs, and $2,848 related to PRSUs at The Fortegra Group.

F-61

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

(20) Income Taxes

The following table presents the Company’s provision (benefit) for income taxes reflected as a component of income (loss):For the Year Ended December 31,202420232022Current provision (benefit) for income taxes:Federal$26,192 $2,118 $250 State1,288 940 1,612 Foreign3,031 2,974 1,041 Total current provision (benefit) for income taxes30,511 6,032 2,903 Deferred provision (benefit) for income taxes:Federal29,020 38,126 39,983 State2,438 (1,446)7,155 Foreign(317)344 409 Total deferred provision (benefit) for income taxes31,141 37,024 47,547 Total provision (benefit) for income taxes$61,652 $43,056 $50,450 On June 21, 2022