Company: LPX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000060519-25-000005
Chunk: 98

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 98
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 On exercise, we generally issue these shares from treasury. The SSARs were granted at market price at the date of grant. The SSARs became exercisable over three years and expire ten years after the date of grant. All outstanding SSARs were vested as of December 31, 2024.Restricted Stock Units and Performance Stock Units We grant time-vested restricted stock units (RSUs) and performance stock units (PSUs) to certain key employees and time-vested restricted stock units to non-employee directors under our stock award plan. RSUs generally vest (i) ratably over a three-year vesting period for employees and (ii) in full on the first anniversary of the grant date for non-employee directors. Certain of these awards are eligible to receive dividend equivalent shares. The grant date fair value of these awards approximates market value of the shares. PSUs generally vest based upon the attainment of certain performance and market metrics over a three-year cumulative performance period. Awards based upon the achievement of the performance goals are earned ratably from 0% to 200%. If the threshold performance level for the relevant performance goal is met at the end of the performance period, the award may be adjusted based on LP's three-year total shareholder return (TSR) performance relative to a capital market peer group. This TSR modifier can increase or decrease the award by 20%, although the TSR modifier cannot cause the award to exceed the maximum of 200%.

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Summary of Stock Awards OutstandingThe following table summarizes stock awards as of December 31, 2024, as well as activity during the last year.Stock Options / SSARSRestricted Stock Units and Performance Stock UnitsNumber of AwardsWeightedAverageExercise PriceNumber of AwardsWeighted Average Grant Date Fair ValueOutstanding at December 31, 2023140,711 $17.50 567,991 $62.59 Granted— — 286,006 72.29 Exercised(137,561)17.54 (259,964)57.12 Vested— — — — Forfeited/cancelled— — (18,511)69.31 Outstanding at December 31, 20243,150 $15.90 575,522 $68.87 Vested and expected to vest at December 31, 202413,150 $15.90 Exercisable at December 31,