Company: MGRC
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023116
Chunk: 33

Company: MCGRATH RENTCORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 33
---
/expired

        —

        —

        Balance at December 31, 2022

        139,350

        33.59

        Options granted

        —

        —

        Options exercised

        (139,110
        )

        33.51

        Options cancelled/forfeited/expired

        —

        —

        Balance at December 31, 2023

        240

        34.57

        Options granted

        —

        —

        Options exercised

        (240
        )

        34.57

        Options cancelled/forfeited/expired

        —

        —

        Balance at December 31, 2024

        —

        $
        —

        —

        $
        —

        Exercisable at December 31, 2024

        —

        $
        —

        —

        $
        —

        Expected to vest after December 31, 2024

        —

        $
        —

        —

        $
        —

       The intrinsic value of stock options at any point in time is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock.  The aggregate intrinsic value of options exercised and sold under the Company’s stock option plans was less than $0.1 million, $9.4 million and $7.9 million for the years ended December 31, 2024, 2023 and 2022, respectively, determined as of the date of option exercise.  As of December 31, 2024, there was no unrecognized compensation cost related to unvested share-based compensation option arrangements granted under the Company’s stock plans. The Company utilizes the Black-Scholes option-pricing model to estimate the fair value of share-based compensation at the date of grant, which requires the use of accounting judgment and financial estimates, including estimates of the expected term option holders will retain their vested stock options before exercising them, the estimated volatility of the Company’s stock price over the expected term and the expected number of options that will be forfeited prior to the completion of their vesting requirements.  Application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation amounts recognized in the Consolidated Statements of Income. No options were granted in the years ended December 31, 2024, 2023 and 2022.   Employee Stock Ownership and 401(k) PlansThe McGrath RentCorp Employee Stock Ownership and 401(k) Plan (the “KS