Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 152

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 152
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 reflects the tax benefit associated with our Canadian-based employees. Refer to Note 19 – Income Taxes.We recorded no share-based compensation expense through restructuring charges in 2024, 2023 or 2022. No share-based compensation costs were capitalized during 2024, 2023, or 2022.Performance-based Restricted Stock UnitsPSUs are tied to our stock price and/or the expected achievement of certain performance-based criteria. The vesting of PSUs is based upon the achievement of the performance-based criteria over a three-year period. We account for PSUs that will be settled in shares of our common stock as equity-based awards. We measure share-based compensation expense of equity-based awards at fair value on the grant date on a straight-line basis over the vesting period. The estimated number of units to be achieved is updated each reporting period. In 2024, PSUs granted in 2021 and 2022 vested, resulting in a total payout of $3.0 million in shares. In 2023, PSUs granted in 2020 vested; however, as performance metrics were not achieved, no awards were paid. In 2022, PSUs granted in 2019 vested and we paid $0.4 million in cash. No PSUs were paid in shares in 2022. As of December 31, 2024, the unamortized cost of outstanding equity-based PSUs was $6.9 million, which we expect to recognize over a weighted-average period of approximately 1.5 years. The following table summarizes the activity of the outstanding PSU awards:

        Equity-Based PSUs

        Shares

        Weighted-AverageGrant DateFair Value

        Balance at December 31, 2023

        284,193

        $
        34.62

        Granted(1)

        151,967

        $
        57.82

        Vested

        (73,919
        )
         
        $
        32.89

        Forfeited(1)

        (89,600
        )
         
        $
        40.06

        Balance at December 31, 2024

        272,641

        $
        46.23

      (1)Includes adjustments for estimated achievement of performance-based criteria.

42

PURSUIT ATTRACTIONS AND HOSPITALITY, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Service-based Restricted Stock Awards and