Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 94

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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 Vested(284,257)23.65 Forfeited(46,397)23.08 Outstanding at June 30, 20251,163,209 $24.61 As of June 30, 2025, total unrecognized compensation expense related to unvested RSUs, including an estimate for pre-vesting forfeitures, was $18,812, which is expected to be recognized over a weighted average period of 2.9 years. The total fair value of RSUs that vested during the three and nine months ended June 30, 2025 was $3,037 and $7,103, respectively.In connection with the sale of the Healthcare RCM Business, the Company fully accelerated the vesting period for 96,613 RSUs (to the extent not previously vested) held by employees of the Healthcare RCM Business immediately prior to the closing of the divestiture.

14. COMMITMENTS AND CONTINGENCIES

LeasesThe Company utilizes office space and equipment under operating leases. Rent expense from continuing operations under these leases amounted to $700 and $1,557 during the three and nine months ended June 30, 2025, and $697 and $2,121 during the three and nine months ended June 30, 2024. Refer to Note 11 for further discussion and a table of the future minimum payments under these leases.LitigationWith respect to all legal, regulatory and governmental proceedings, and in accordance with ASC 450-20, Contingencies—Loss Contingencies, the Company considers the likelihood of a negative outcome. If the Company determines the likelihood of a negative outcome with respect to any such matter is probable and the amount of the loss can be reasonably estimated, the Company records an accrual for the estimated amount of loss for the expected outcome of the matter. If the likelihood of a negative outcome with respect to material matters is reasonably possible and the Company is able to determine an estimate of the amount of possible loss or a range of loss, whether in excess of a related accrued liability or where there is no accrued liability, the Company discloses the estimate of the amount of possible loss or range of loss. However, the Company in some instances may be unable to estimate an amount of possible loss or range of loss based on the significant uncertainties involved in, or the preliminary nature of, any such material matter, and in these instances the Company will disclose the nature of the contingency and describe why the Company is unable to determine an estimate