Company: IPAR
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001753926-25-000738
Chunk: 35

Company: INTERPARFUMS INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 7
Chunk 35
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 is generally our policy to issue new shares upon exercise of stock options.    
The following table sets forth information with respect to nonvested options for the three months ended March 31, 2025:

Number of Shares

Weighted Average Grant-Date Fair Value

Nonvested options – beginning of period

118,650

$
30.02

Nonvested options granted

—

—

Nonvested options vested or forfeited

(4,900
)
 
$
22.41

Nonvested options – end of period

113,750

$
30.35

Page 11   

INTERPARFUMS, INC. AND SUBSIDIARIES   Notes to Consolidated Financial Statements   
Share-based payment expense decreased income before income taxes by $0.56 million and $0.59 million for the three months ended March 31, 2025 and 2024 respectively, and decreased income attributable to Interparfums, Inc. by $0.36 million and $0.39 million for the three months ended March 31, 2025 and 2024 respectively.

The following table summarizes stock option information as of March 31, 2025:

Shares

Weighted Average Exercise Price

Outstanding at January 1, 2025

246,430

$
103.24

Options forfeited

(3,800
)

124.09

Options exercised

(13,830
)

77.88

Outstanding at March 31, 2025

228,800

$
104.43

Options exercisable

115,050

$
82.06

Options available for future grants

498,195

As of March 31, 2025, the weighted average remaining contractual life of options outstanding is 3.2 years (1.5 years for options exercisable); the aggregate intrinsic value of options outstanding and options exercisable is $4.5 million and $4.0 million, respectively; and unrecognized compensation cost related to stock options outstanding aggregated $3.1 million.

Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the three months ended March 31, 2025 and 2024 were as follows:

(In thousands)
 
March 31, 2025

March 31, 2024

Cash proceeds from stock options exercised
 
$
1,077

$
1,326

Tax benefits

125