Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 102

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 102
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 financial performance targets. The PSUs vest based on the achievement of certain adjusted earnings per share targets for a period of up to three years combined with a service period of three years. Compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied.The Company recognized compensation expense for PSUs of $0.6 million and $1.0 million for the three months ended June 30, 2025 and 2024, respectively, and $0.9 million and $1.7 million for the six months ended June 30, 2025 and 2024, respectively, which is included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of June 30, 2025, there was $5.8 

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million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted-average period of 2.2 years.A summary of PSU activity during the six months ended June 30, 2025 is presented below:Number of PSUsWeighted-AverageRemaining ContractualTerm (Years)Weighted-AverageGrant PriceOutstanding (nonvested) at December 31, 2024321,530 8.77$21.88 Granted(1)337,814 $12.11 Vested— $— Forfeited— $— Outstanding (nonvested) at June 30, 2025659,344 9.08$16.88 (1) The aggregate fair value of all PSUs granted during the six months ended June 30, 2025 was approximately $4.1 million.

NOTE 13 – EQUITY 

On August 18, 2021, the Company’s Board of Directors approved a stock repurchase program that authorizes the Company to purchase up to $40.0 million of outstanding shares of the Company’s common stock and which was increased on March 3, 2023 to an additional $100.0 million and on August 26, 2024 to an additional $63.8 million of its outstanding shares (the “Repurchase Program”). Under the Repurchase Program, the Company is authorized to repurchase shares from time to time in accordance with applicable laws, both on the open market and in privately negotiated transactions and may include the use of derivative contracts or structured share repurchase agreements. The timing and amount of repurchases depends on several factors, including market and