Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 124

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 124
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 Awards at December 31, 2024 was $ 13.8 4.6

Long-Term Incentive Awards

In the fourth quarter of 2023, certain senior executives of the Company were granted 750 125 875 Compensation" section "Long-Term Incentive Unit Awards" in this Annual Report.

The Company will recognize compensation cost for the Incentive Units on a straight-line basis over the five-year 16.4 19.2 The fair value as of December 31, 2024 was calculated using a Black-Scholes pricing formula including the following significant assumptions:

  Underlying market price per share        $ 117  
  Volatility                               34.00  
  Expected term                          4 years  
  Risk-free rate                            3.58  

For the year ended December 31, 2024, the Company recognized $ 3.8

Other Compensation

Prior to the completion of the Merger, the Company recognized share-based compensation expense for share-based awards based on the grant date fair value. The expense was recognized over the employee's requisite service period, or vesting period of the equity award, approximately three years. The Company recognized share-based compensation expense in Administrative expenses on the Consolidated Statements of Operations of $ 7.3 12.5

In accordance with the Merger Agreement, upon closing of the Merger, Triton’s unvested restricted shares and restricted share units that were outstanding immediately prior to the closing of the Merger were converted into a contingent right to

F-25

TRITON INTERNATIONAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

receive cash equal to the number of shares subject to such award, assuming attainment of the maximum level of performance for performance-based awards, multiplied by $ 83.16, the Company reclassified $ 16.1 2.9 24.2 11.9

As of December 31, 2024, in accordance with the terms of the Merger Agreement, awards of $ 55.1

Transaction and other costs also included retention compensation expense related to the Merger of $ 2.2 4.4 Merger" for more detailed information regarding Merger costs.

Note 11 - Other Equity Matters

In connection with the Merger, all previously issued and outstanding common shares of Triton were cancelled and following the closing of the Merger, 100

During the year ended December 31, 202