Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 19

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 19
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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)(unaudited)

Wesco recognized $8.4 million and $2.7 million of non-cash stock-based compensation expense for the three months ended June 30, 2025 and 2024, respectively, and $18.6 million and $12.8 million of non-cash stock-based compensation expense for the six months ended June 30, 2025 and 2024, respectively, which is included in selling, general and administrative expenses for such periods. As of June 30, 2025, there was $82.4 million of total unrecognized compensation expense related to unvested stock-based compensation arrangements for all awards previously made, which is expected to be recognized as follows:For the year ending December 31,(In millions)Remaining 2025$22.1 202634.5 202722.2 20283.6 

7. STOCKHOLDERS’ EQUITY

Share RepurchasesOn May 31, 2022, the Company’s Board of Directors adopted a resolution authorizing the repurchase of up to $1 billion of the Company’s common stock and 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”). The share repurchase authorization has no expiration date and may be modified, suspended, or terminated at any time without prior notice.During the three and six months ended June 30, 2025, the Company entered into spot repurchase transactions through a broker to purchase 147,300 and 300,528 shares, respectively, of its common stock in the open market for cash totaling $25.3 million and $50.6 million, respectively, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts receivable securitization and revolving credit facilities. During the three and six months ended June 30, 2024, the Company entered into spot repurchase transactions through a broker to purchase 1,679,176 and 2,022,323 shares, respectively, of its common stock in the open market for cash totaling $303.0 million and $353.5 million, respectively, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts rece