Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 123

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 123
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11.55 (3,816)Outstanding, December 31, 20241,298,877 — 1,298,877 $10.72 $13,922 Equity-based compensation expense for the Non-LTIP RSUs was $5.7 million and $5.0 million for the years ended December 31, 2024 and 2023, respectively. Unrecognized equity-based compensation expense for the Non-LTIP RSUs totaled $8.0 million as of December 31, 2024 and is expected to be recognized over 1.8 years.OptionsOn November 7, 2024, pursuant to the terms of the 2021 Omnibus Incentive Plan, the Company granted options to certain officers of the Company. The options vest on the second anniversary from the date of grant, subject to the officer’s continued employment on the vesting date. The options are exercisable for a period of five years from the date of grant on a one-for-one basis for Class A LLC Units of FOA Equity, which are exchangeable for shares of Class A Common Stock of the Company on a one-for-one basis.

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Finance of America Companies Inc.Notes to Consolidated Financial Statements

A summary of the option award activity is presented below:Number of OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Outstanding, December 31, 2023— $— — $— Granted720,000 25.00 Outstanding, December 31, 2024720,000 $25.00 4.8$2,246 The weighted average grant date fair value of the options granted during the year ended December 31, 2024 was $7.30 per option.Equity-based compensation expense for the options was $0.4 million for the year ended December 31, 2024. Unrecognized equity-based compensation expense for the options totaled $4.9 million as of December 31, 2024 and is expected to be recognized over 1.8 years.The Company estimates the fair value of the options at the date of grant using the Black-Scholes option pricing model based on the following inputs:For the year ended December 31, 2024Expected volatility75.0 %Expected dividend yield0.0 %Risk-free interest rate4.2 %Expected term (