Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 45

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 45
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million.

12

Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)(unaudited)

The following table sets forth a summary of restricted stock units and related information for the three months ended March 31, 2025:AwardsWeighted-AverageFairValueUnvested at December 31, 2024427,570 $149.84      Granted215,603 179.83      Vested(166,239)146.04      Forfeited(915)179.29 Unvested at March 31, 2025476,019 $164.56 The following table sets forth a summary of performance-based awards and related information for the three months ended March 31, 2025:AwardsWeighted-AverageFairValueUnvested at December 31, 2024214,517 $147.19      Granted72,302 191.72      Vested(75,189)122.09      Forfeited— — Unvested at March 31, 2025211,630 $171.32 Wesco recognized $10.2 million and $10.1 million of non-cash stock-based compensation expense for the three months ended March 31, 2025 and 2024, respectively, which is included in selling, general and administrative expenses for such periods. As of March 31, 2025, there was $98.8 million of total unrecognized compensation expense related to unvested stock-based compensation arrangements for all awards previously made, which is expected to be recognized as follows:For the year ending December 31,(In millions)Remaining 2025$35.3 202637.2 202722.8 20283.5 

7. STOCKHOLDERS’ EQUITY

Share RepurchasesOn May 31, 2022, the Company’s Board of Directors adopted a resolution authorizing the repurchase of up to $1 billion of the Company’s common stock and Series A Preferred Stock. The share repurchase authorization has no expiration date and may be modified, suspended, or terminated at any time without prior notice.During the three months ended March 31, 2025, the Company entered into spot repurchase transactions through a broker to purchase 153,228 shares