Company: OC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001370946-25-000241
Chunk: 48

Company: Owens Corning
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
angement Agreement, the number of Masonite shares underlying the PRSUs was equal to (i) 107.33% of target for PRSUs granted in February 2022, (ii) 100% of target for PRSUs granted in August 2022 and (iii) 122% of target for PRSUs granted in February 2023.

34

Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

The fair value of the Owens Corning RSUs issued for Masonite outstanding equity awards was $85 million as of the date of acquisition, of which $35 million was related to pre-combination expense and was included in the purchase price. The remaining portion of $50 million relates to post-combination expense, of which $26 million was accelerated as of September 30, 2025. As of September 30, 2025, the future unrecognized expense related to the converted outstanding RSUs was approximately $6 million which will be recognized over the remaining service period of approximately 1.17 years. Please refer to Notes 8 and 11 of the Consolidated Financial Statements for further information. Future equity-based awards to Company employees who were former Masonite employees may be granted from the remaining available shares under the Masonite Stock Plan. At September 30, 2025, the number of shares remaining available under the Masonite Stock Plan was 0.6 million shares of Owens Corning common stock.The following table summarizes the Company’s RSU activity:Number of RSUsWeighted-AverageFair ValueBalance at December 31, 20241,249,146 $107.31 Granted305,753 170.89 Vested(432,800)112.39 Forfeited(75,903)141.76 Balance at September 30, 20251,046,196 $121.28 As of September 30, 2025, there was $56 million of total unrecognized compensation cost related to RSUs. This total includes $6 million of unrecognized compensation related to converted Masonite equity awards. The remaining $50 million of unrecognized compensation cost is related to RSUs granted under both the Owens Corning Stock Plans and Masonite Stock Plan. That cost is expected to be recognized over a weighted-average period of 1.83 years. The total grant date fair value of shares vested during the nine