Company: BLCO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001860742-25-000004
Chunk: 568

Company: Bausch & Lomb Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 568
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 PSUs do not ultimately vest due to certain revenue targets not being met, no compensation expense is recognized and any previously recognized compensation expense is reversed.There were no TSR PSUs granted in 2022. The fair values of TSR PSUs granted during 2024 and 2023 were estimated with the following assumptions:20242023Contractual term (years)3.03.6Expected volatility35.1%35.4%Risk-free interest rate4.5%4.5%The expected volatility was determined based on implied and historical volatility of Bausch + Lomb’s selected peer companies. The risk-free interest rate was determined based on the rate at the time of grant for zero-coupon U.S. government bonds with maturity dates equal to the contractual term of the TSR PSU.The following table summarizes the performance-based PSU activity during 2024:

F-48

(in millions, except per share amounts)Performance-based RSUsWeighted-AverageGrant-DateFair Value Per ShareNon-vested, January 1, 20241.2 $26.82 Granted3.0 $18.15 Vested— $— Forfeited(0.1)$18.14 Non-vested, December 31, 20244.1 $20.61 During 2024, the Company granted approximately 3,000,000 performance-based RSUs, consisting of: (i) approximately 1,800,000 OPG PSUs with a weighted-average grant date fair value of $17.20 per RSU, (ii) approximately 800,000 TSR PSUs with an average grant date fair value of $21.21 per RSU and (iii) approximately 400,000 Organic Revenue Growth PSUs with a weighted-average grant date fair value of $16.09 per RSU.As of December 31, 2024, the total remaining unrecognized compensation expense related to non-vested performance-based RSUs amounted to $60 million, which will be amortized over the weighted-average remaining requisite service period of approximately 2.1 years. A maximum of approximately 10,800,000 common shares could be issued upon vesting of the performance-based RSUs outstanding as of December 31, 2024. There were no performance-based RSUs that vested during 2024 and 2023. In addition, while Bausch + Lomb did not grant performance-based RSUs during 2022, certain Bausch + Lomb