Company: CVBF
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029985
Chunk: 246

Company: CVB FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 246
---
0 years

        10.0 years

        10.0 years

        Weighted average grant date fair value
         
        $
        8.70

        $
        11.09

        $
        8.60

       The expected volatility is solely based on the daily historical stock price volatility over the expected option life. The expected life of options granted is derived from the output of the option valuation model and represents the period of time an optionee will hold an option before exercising it. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury five-year constant maturity yield curve in effect at the time of the grant. The Company accounts for forfeitures as they occur, rather than to estimate forfeitures over the vesting period. The following table presents option activity under the Company’s stock option plans as of and for the year ended December 31, 2024.   

        Number ofStock OptionsOutstanding

        WeightedAverageExercise Price

        WeightedAverageRemainingContractualTerm

        AggregateIntrinsic Value

        (In thousands)

        (In years)

        (In thousands)

        Outstanding at January 1, 2024

        386

        $
        20.50

        Granted

        95

        17.17

        Exercised

        (32
        )

        17.95

        Forfeited or expired

        (16
        )

        19.13

        Outstanding at December 31, 2024

        433

        $
        20.01

        6.61

        $
        967

        Vested or expected to vest at December 31, 2024

        433

        $
        20.01

        6.61

        $
        967

        Exercisable at December 31, 2024

        208

        $
        19.52

        4.92

        $
        512

       The total intrinsic value of options exercised during the years ended December 31, 2024, 2023 and 2022 was $131,000, $53,000 and $1.0 million, respectively. As of December 31, 2024, there was a total of $1.6 million in unrecognized compensation cost related to nonvested options granted under the Plan. That cost is expected