Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 259

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 259
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-based and/or market-based restricted stock units totaled $11.1 million at December 31, 2024, and is expected to be recognized over a weighted average period of approximately 2.0 years. The aggregate intrinsic value of performance-based restricted stock units outstanding was $16.8 million as of December 31, 2024.A summary of the status of our time-based and performance-based and/or market-based restricted stock units as of December 31, 2024, and 2023, and changes during the year ended December 31, 2024, is presented below:  

        Time-based Restricted StockAwards and Stock Units

        Performance-based and/or Market-basedRestricted Stock Units

        (In thousands)
         
        Shares

        WeightedAverage GrantDate Fair Value

        Shares

        WeightedAverage GrantDate Fair Value

        Outstanding at December 31, 2023

        2,040

        $
        26.96

        9

        $
        22.69

        Granted

        1,264

        $
        13.48

        1,062

        $
        16.73

        Vested and settled

        (1,089
        )
         
        $
        28.41

        (6
        )
         
        $
        16.78

        Cancelled

        (200
        )
         
        $
        16.77

        (105
        )
         
        $
        16.60

        Outstanding at December 31, 2024

        2,015

        $
        18.73

        960

        $
        16.81

19.	Defined contribution plans and deferred compensationDefined Contribution PlansOrthofix sponsors a defined contribution plan (the "401(k) Plan") covering substantially all full-time U.S. employees. The 401(k) Plan allows participants to contribute up to 90% of their pre-tax compensation, subject to certain limitations, with the Company matching 100% of the first 4% of the employee's base compensation. During the years ended December 31, 2024, 2023, and 2022, incurred expenses relating to the 401(k) Plan, including matching contributions, were approximately $5.9 million, $4.6 million, and $3.3 million, respectively.The Company also operates defined contribution plans for its international employees meeting minimum service