Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1204

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1204
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 Exercisable, December 31, 2024248 $62.94 2.8$510 The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between Ingevity's closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at each year end. The amount changes based on the fair market value of Ingevity's stock.As of December 31, 2024, there is no remaining unrecognized compensation expense related to stock options.Restricted Stock Units, Deferred Stock Units, and Performance-based Restricted Stock UnitsAll RSUs, DSUs, and PSUs vest in accordance with vesting conditions set by the Compensation Committee. RSUs and DSUs granted to date have vesting periods ranging from less than one year to three years from the date of grant. PSUs granted to date have vesting periods of three years from the date of grant, including grants that have a cumulative three-year performance period, subject to the satisfaction of the applicable performance goals established for the respective grant. We periodically assess the probability of achievement of the performance criteria and adjust the amount of compensation expense accordingly. Beginning in 2023, certain granted PSUs include a rTSR modifier that, when combined with the performance criteria could modify the final PSU payout by +/- 15 to 30 percent depending on the Company's rTSR performance over a three year performance period. The rTSR component of the 2024 PSU awards is a market condition requiring the use of a Monte Carlo simulation on the grant date to estimate the fair value. The assumptions utilized to calculate the fair value of the 2024 PSUs are shown in the table below. Compensation expense is recognized over the vesting period and adjusted for the probability of achievement of the performance criteria.

79

IndexIngevity CorporationNotes to the Consolidated Financial StatementsDecember 31, 2024

Weighted-average assumptions used to calculate expense for PSUsYear Ended December 31, 2024Risk-free interest rate4.4 %Average life of options (years)3.0Volatility38.0 %Dividend yield— Fair value per PSU$48.37 The following table summarizes Ingevity's RSUs, DSUs, and PSUs activity.RSUs and DSUsPSUsNumber of