Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
Chunk: 68

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 68
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 of income with an offsetting payable to participants in other liabilities on the consolidated balance sheets.The Company has an Employee Stock Purchase Plan (“ESPP”). Employees are eligible for the ESPP when they meet certain requirements concerning period of credited service and minimum hours worked. Eligible employees may contribute between 1% and 10% of eligible compensation up to the Section 423 of the Internal Revenue Code limit of $25,000. In 2006, stockholders approved the ESPP, which allocated 400,000 shares for purchase. As of December 31, 2024, 2023 and 2022, 231,505, 210,558 and 184,263 shares, respectively, had been purchased on behalf of employees under the ESPP.The Company has stock-based compensation plans under which equity-based compensation grants are made by the board of directors, or its designated committee. Grants are subject to vesting requirements and may be settled in shares of common stock or paid in cash. Under the plans, the Company may grant, among other things, non-qualified stock options, incentive stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights (“SARs”), performance awards or any combination thereof to employees and non-employee directors. The Company has historically issued new shares to satisfy share unit conversions. A total of 1,400,000 shares are authorized for grant under the current plan. Total shares remaining available for grant under the current plan at December 31, 2024 were 249,423.

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A summary of the Company’s SAR activity and related information is as follows. Grants of SARs include time-based vesting conditions that generally vest ratably over a period of five years. December 31, 2024December 31, 2023December 31, 2022  SARsWeighted Average Exercise PriceSARsWeighted Average Exercise PriceSARsWeighted Average Exercise PriceOutstanding at beginning of year— $— — $— 3,000 $44.20 Exercised— — — — (3,000)44.20 Outstanding at year-end— $— — $— — $— Vested and exercisable at year-end— $— — $— — $— Weighted average remaining contractual life of vested (in years)0.000.000.00Weighted average remaining contractual