Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 59

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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ed Average Grant Date Fair ValueUnvested, outstanding at December 28, 20241,273,451 $9.9 Granted 341,325 8.3 Incremental units granted based on performance242,353 9.4 Vested(484,708)9.4 Unvested, outstanding at March 29, 2025(1)1,372,421 $9.5 (1) This number includes 431,355 performance stock units, which are projecting to payout at 0% due to performance results from previously-granted PSU awards.Share-based compensation expense for PSUs is recognized straight line over the requisite vesting period, reduced for actual forfeitures, and included in general and administrative expense in the accompanying Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income. Total compensation expense related to the PSUs was approximately $1.0 and $0.5 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. As of March 29, 2025, there was an aggregate of $6.9 of unrecognized expense related to the PSUs granted, which the Company expects to amortize over a weighted average period of 2.0 years.     The above table represents PSUs assuming 100% of target payout at the time of the grant. 

21

Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

The actual payout of the 2023 grants will be in a range of 0% to 200%, depending on financial performance results for the three-year performance period from January 1, 2023, through December 27, 2025. As of March 29, 2025, the Company deemed the estimate of these PSUs to be issued at 0% of target, and have reflected such estimates within the share-based compensation expense. The actual payout of the 2024 grants will be in a range of 0% to 200%, depending on financial performance results for the three-year performance period from January 1, 2024, through December 26, 2026. As of March 29, 2025, the Company deemed the estimate of these PSUs to be issued at 0% of target, and have reflected such estimates within the share-based compensation expense. The actual payout of the 2024 “special incentive” grants will be in a range