Company: ZEUS
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001437749-25-032420
Chunk: 12

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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37,400, respectively, were granted in service-based and performance-based cash awards. If the return on net assets falls below five percent, no performance-based incentive will be awarded. The maximum performance-based award is achieved if return on net assets exceeds ten percent, and is capped at 150% of the grant.
    
   Stock-based compensation expense recognized on RSUs for the three and nine months ended  September 30, 2025 and 2024, respectively, is summarized in the following table:

       For the Three Months Ended    For the Nine Months Ended  
   September 30,    September 30,  
 (in thousands, except per share data)   2025    2024    2025    2024  
 RS and RSU expense before taxes  $606  $499  $1,758  $1,499 
 RS and RSU expense after taxes  $420  $349  $1,236  $1,080 

   All pre-tax charges related to RSs and RSUs were included in the caption “Administrative and general” on the accompanying Consolidated Statements of Comprehensive Income.
    
   The following table summarizes the activity related to RSs for the nine months ended  September 30, 2025 and 2024, respectively:

       As of September 30, 2025    As of September 30, 2024  
   Number of    Weighted Average    Number of    Weighted Average  
   Shares    Granted Price    Shares    Granted Price  
 Outstanding at December 31   6,702  $65.65   -  $- 
 Granted   21,336   30.93   10,050   65.65 
 Converted into shares   (4,673)  39.23   -   - 
 Outstanding at September 30   23,365  $39.23   10,050  $65.65 
 Vested at September 30   -  $-   -  $- 

   The following table summarizes the activity related to RSUs for the nine months ended  September 30, 2025 and 2024, respectively:

       As of September 30, 2025    As of September