Company: STGW
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000876883-25-000009
Chunk: 147

Company: Stagwell Inc
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 147
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 the years ended December 31, 2024, 2023, and 2022, the Company recognized total stock-based compensation expense related to all stock compensation awards of $44.9 million, $51.2 million, and $36.7 million, respectively. The related income tax benefit for the years ended December 31, 2024, 2023, and 2022 was $4.7 million, $6.3 million, and $4.1 million, respectively.

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The following tables summarize stock-based activity of awards authorized under our employee stock incentive plans and awards (such as inducement awards) and other share-based commitments that have met the requirements to be issued separate from shareholder-approved stock incentive plans. The following table presents information about time-based and performance-based restricted stock and restricted stock unit awards:Time-Based AwardsPerformance-Based AwardsSharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair ValueBalance at December 31, 20237,172 $7.23 3,711 $7.56 Granted4,943 6.22 1,791 5.56 Vested(5,133)7.32 (887)8.62 Forfeited(337)6.92 (78)8.79 Balance at December 31, 20246,645 $6.43 4,537 $6.55  The weighted average grant date fair value of time-based awards granted in 2023 and 2022 was $7.19 and $7.38 per share, respectively. The weighted average grant date fair value of performance-based awards granted in 2023 and 2022 was $7.24 and $8.68 per share, respectively.The vesting of the performance-based awards is contingent primarily upon the Company meeting certain cumulative revenue and earnings targets, primarily three years, and continued employment through the vesting date. The term of the time-based awards is generally three years with vesting generally one to three years. The vesting period of the time-based and performance-based awards is generally commensurate with the requisite service period.The total fair value of restricted stock and restricted stock unit awards, which vested during the years ended December 31, 2024, 2023, and 2022, was $33.3 million, $38.4 million, and $77.3 million respectively. At December 31, 2024, the weighted