Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 47

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 47
---
 performance-based and restricted stock unit award activity as of December 31, 2024 and changes during the period then ended (shares based on target amounts, averages are calculated on a weighted basis):   Performance-BasedRestricted StockNumber ofShares(000’s)AverageGrant DateFair ValueNumber ofShares(000’s)AverageGrant DateFair ValueNon-vested at January 1, 2024572 $281.11 638 $232.15 Granted 301 534.58 124 449.10 Vested(305)264.41 (160)244.23 Cancelled and Forfeited(10)480.93 (11)358.22 Non-vested at December 31, 2024558 $339.50 591 $271.59   There are approximately 9 thousand performance-based stock units and 15 thousand restricted stock units that are non-vested at December 31, 2024 which will be settled in cash due to foreign regulatory limitations. The liability related to these grants reflects the current estimate of performance that will be achieved and the current share price.As of December 31, 2024, $62 million of unrecognized compensation cost related to performance-based awards and $50 million of unrecognized compensation cost related to the restricted stock unit awards is expected to be recognized primarily through the first quarter of 2027.

NOTE 16. RETIREMENT PROGRAMS

Defined Benefit Pension Plans - U.S.The Linde retirement plans are non-contributory defined benefit plans covering eligible employees and its participating affiliates. Effective July 1, 2002, the Linde U.S. Pension Plan was amended to give participating employees a one-time irrevocable choice between a traditional benefit (the “Traditional Design”) and an account-based benefit (the “Account-Based Design”). The Traditional Design pays a monthly benefit based on years of service and average pay during the last years of the participant’s career with Linde. The Account-Based Design gives participants annual pay credits equal to 4% of eligible compensation, plus interest credits based on long-term treasury rates on the accumulated account balance. This new formula applies to all new employees hired after April 30, 2002 into businesses adopting this plan. The U.S. pension plan assets are comprised of a diversified mix of investments, including corporate equities, government securities and corporate debt securities. Linde has several plans that provide supplementary retirement benefits primarily to higher level employees that are unfunded