Company: EPR-PE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001045450-25-000082
Chunk: 40

Company: EPR PROPERTIES
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 share appreciation rights, restricted common shares, restricted share units, performance shares, performance share units, bonus shares, deferred shares or other share-based awards. At March 31, 2025, there were 354,667 shares available for issuance under the 2016 Equity Incentive Plan. Subsequent to March 31, 2025, the Company amended the 2016 Equity Incentive Plan by shareholder vote on May 6, 2025 to increase the maximum number of authorized shares issuable under the plan from 3,950,000 shares to 5,950,000 shares, immediately following which 2,354,667 shares remained available for issuance under the plan. 

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Nonvested SharesA summary of the Company’s nonvested share activity and related information is as follows:Number of sharesWeighted avg. grant date fair valueWeighted avg. life remainingOutstanding at December 31, 2024614,614 $42.79 Granted283,494 50.21 Vested(265,675)43.37 Outstanding at March 31, 2025632,433 $45.87 1.57The holders of nonvested shares have voting rights and receive dividends from the date of grant. The fair value of the nonvested shares that vested was $11.8 million and $13.7 million for the three months ended March 31, 2025 and 2024, respectively. Expense recognized related to nonvested shares and included in "General and administrative expense" in the accompanying consolidated statements of income and comprehensive income was $1.9 million and $1.8 million for the three months ended March 31, 2025 and 2024, respectively. Expense related to nonvested shares and included in retirement and severance expense in the accompanying consolidated statements of income and comprehensive income was $0.7 million for the three months ended March 31, 2024. At March 31, 2025, unamortized share-based compensation expense related to nonvested shares was $16.9 million.Nonvested Performance Share UnitsA summary of the Company's nonvested performance share unit activity and related information is as follows: Target Number of Performance Share UnitsWeighted avg. grant date fair value (1)Outstanding at December 31, 2024326,469 $59.44 Granted113,833 66