Company: FRT-PC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000034903-25-000016
Chunk: 157

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 157
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 of dividend equivalent rights related to these units is approximately $0.1 million, and was recorded against retained earnings for the year ended December 31, 2024. The weighted-average grant-date fair value of the restricted stock units awarded in 2021 was $97.01.As of December 31, 2024, there was $16.9 million of total unrecognized compensation cost related to unvested share-based compensation arrangements (i.e. options and unvested shares) granted under our plans. This cost is expected to be recognized over the next 3.5 years with a weighted-average period of 1.8 years.Subsequent to December 31, 2024, common shares were awarded under various compensation plans as follows:DateAwardVesting TermBeneficiaryJanuary 2, 20256,164 SharesImmediateTrusteesFebruary 12, 2025136,810 Restricted Shares3-4 yearsOfficers and key employees

NOTE 13—SAVINGS AND RETIREMENT PLANS

We have a savings and retirement plan in accordance with the provisions of Section 401(k) of the Code. Generally, employees can elect, at their discretion, to contribute a portion of their compensation up to a maximum of $23,000 for 2024, $22,500 for 2023, and 20,500 for 2022. Under the plan, we contribute 50% of each employee’s elective deferrals up to 5% of eligible earnings. In addition, we may make discretionary contributions within the limits of deductibility set forth by the Code. Our full-time employees are immediately eligible to become plan participants. Employees are eligible to receive matching contributions immediately on their participation; however, these matching payments will not vest until their third anniversary of employment. Our expense for the years ended December 31, 2024, 2023 and 2022 was approximately $1,012,000, $960,000 and $869,000, respectively.A non-qualified deferred compensation plan for our officers and certain other employees was established in 1994 that allows the participants to defer a portion of their income. As of December 31, 2024 and 2023, we are liable to participants for approximately $24.0 million and $22.0 million, respectively, under this plan. Although this is an unfunded plan, we have 

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purchased certain investments to match this obligation. Our obligation under this plan and the related investments are both