Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 129

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 129
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 millions of Canadian dollars)   Units outstanding at beginning of year3,180 Units granted1,444 Units cancelled(104)Units matured1(1,355)Dividend reinvestment237 Units outstanding at end of year3,402 1.6244 1The total amount paid during the years ended December 31, 2024, 2023 and 2022 for PSUs was $65 million, $123 million and $90 million, respectively.

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Compensation expense recorded for the years ended December 31, 2024, 2023 and 2022 for PSUs was $75 million, $59 million and $169 million, respectively. As at December 31, 2024, unrecognized compensation expense related to non-vested PSUs was $109 million. The expense is expected to be fully recognized over a weighted average period of approximately two years.RESTRICTED STOCK UNITSEmployees may also be granted cash-settled or share-settled RSUs under the Plan.Share-settled awards granted to non-executive senior management employees vest following a three-year maturity period. Beginning in 2023, share-settled units were also granted to non-executive employees. These units vest either on each of the first, second and third anniversaries of the grant date, or following a 12-month period. Cash-settled RSUs are given to non-executive employees and are paid in equal installments on each of the first, second and third anniversaries of the grant date.RSU holders receive cash or shares equal to Enbridge's weighted average share price for 20 days prior to the maturity of the grant multiplied by the number of units outstanding on the maturity date.December 31, 2024NumberWeighted Average Grant Date Fair Value2Weighted Average Remaining Contractual Life (years)Aggregate Intrinsic Value(number of units in thousands; intrinsic value in millions of Canadian dollars)Units outstanding at beginning of year3,571 50.69   Units granted1,758 48.50   Units cancelled(112)51.38   Units matured1(1,910)49.99   Dividend reinvestment284 50.94   Units outstanding at end of year3,591 51.10 1.0187 1The total amount paid during the years ended December 31, 2024, 2023 and 2022 for RSUs was $