Company: FRHC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000924805-25-000041
Chunk: 262

Company: Freedom Holding Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 262
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 be recognized over a weighted average period of 3.86 years. The compensation expense related to stock awards, which vested on the date of the award was $2,914 and $1,887 during the three months ended September 30, 2025 and  September 30, 2024, respectively.

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Table of ContentsFREEDOM HOLDING CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(All amounts in thousands of United States dollars, except share data, unless otherwise stated)

The Company has determined the fair value of shares awarded during the three months ended September 30, 2025, using the Monte Carlo valuation model based on the following key assumptions:Stock awards granted Term (years)VolatilityRisk-free rate August 5, 20253.4838.70 %3.66 %The table below summarizes the activity for the Company's stock awards during the six months ended September 30, 2025:SharesWeightedAverageFair ValueOutstanding, at March 31, 20251,207,307 97,748 Granted248,888 33,090 Vested(245,326)(19,484)Forfeited/cancelled/expired(74,906)(5,694)Outstanding, at September 30, 20251,135,963 105,660 

NOTE 21 – LEASES

At September 30, 2025, the Group was obligated under a number of noncancellable leases, predominantly operating leases of office space, which expire at various dates through 2034. The Group's primary involvement with leases is in the capacity as a lessee where a Group leases premises to support its business.The Group determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. Operating lease liabilities and right-of-use (ROU) assets are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. The future lease payments are discounted at a rate that estimates the Company’s collateralized borrowing rate for financing instruments of a similar term and are included in accounts payable and other liabilities. The operating lease ROU asset, included in premises and equipment, also includes any lease prepayments made, plus initial direct costs incurred, less any lease incentives received. The Company recognizes fixed lease costs on a straight-line basis throughout the lease term in