Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 318

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 318
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 following table provides a summary of the grant date fair values of the internal Company-based metric PSUs:Twelve Months Ended December 31,202420232022Grant date fair value of units granted$147.18 $92.97 $87.06 

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)18.    STOCK COMPENSATION (continued)

External based metricsThe external-based metric PSUs vest after a three-year period. Outstanding grants issued in or after 2018 until 2022 were based on the Company’s total stockholder return relative to the performance of the Dow Jones U.S. Construction & Materials Index. Outstanding grants issued in or after 2023 are based on the Company’s total stockholder return relative to a peer group. The amount of stock distributed will vary from 0% to 200% of PSUs awarded depending on the relative stockholder return performance. The fair value of external-based metric PSUs has been estimated at the grant date using a Monte Carlo simulation that uses various assumptions.The following table provides a summary of the assumptions for PSUs granted in 2024, 2023 and 2022:Twelve Months Ended December 31,202420232022Expected volatility33.88%44.66%41.65%Risk free interest rate3.94%3.75%1.36%Expected term (in years)2.912.912.91Grant date fair value of units granted$195.95$119.33$122.69The risk-free interest rate was based on zero-coupon United States Treasury STRIPS at the grant date. The expected term represents the period from the grant date to the end of the three-year performance period.PSU SummaryAs of December 31, 2024, there was $16 million total unrecognized compensation cost related to PSUs. That cost is expected to be recognized over a weighted-average period of 1.65 years. The total grant date fair value of shares vested during the years ended December 31, 2024, 2023 and 2022, was $21 million, $21 million and $9 million, respectively.The following table shows a summary of the Company's PSU activity: Number ofPSUsWeighted-AverageGrant DateFair ValueBalance as of January 1, 2024268,677 $100.57 Granted179