Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 155

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 155
---
D CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

A summary of stock option activity for the three months ended December 31, 2024 is as follows:Stock OptionsWeighted Average Exercise PriceOutstanding at September 30, 20249,120,944 $24.48 Granted50,000 24.11 Exercised(98,972)19.32 Forfeited(26,631)30.76 Outstanding at December 31, 20249,045,341 $24.52 Exercisable at December 31, 20247,144,049 $25.19 The weighted-average grant date fair value of stock options granted during the three months ended December 31, 2024 was $13.07. As of December 31, 2024, total unrecognized compensation expense related to unvested stock options, including an estimate for pre-vesting forfeitures, was $13,706, which is expected to be recognized over a weighted-average period of 2.6 years. The Company's policy is to account for forfeitures of stock-based compensation awards as they occur. The total fair value of stock options that vested during the three months ended December 31, 2024 was $3,209.Restricted Stock UnitsThe Company has issued Class A common stock in the form of restricted stock units ("RSUs") under the 2018 Plan. A summary of activity related to restricted stock units for the three months ended December 31, 2024 is as follows:Restricted Stock UnitsWeighted Average Grant Date Fair ValueOutstanding at September 30, 2024771,214 $22.71 Granted419,717 24.11 Vested(15,220)21.91 Forfeited(5,000)21.41 Outstanding at December 31, 20241,170,711 $23.18 As of December 31, 2024, total unrecognized compensation expense related to unvested RSUs, including an estimate for pre-vesting forfeitures, was $16,862, which is expected to be recognized over a weighted average period of 3.1 years. 

The total fair value of RSUs that vested during the three months ended December 31, 2024 was $408.

14. COMMITMENTS AND CONTINGENCIES

LeasesThe Company