Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 95

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 95
---
, the Company spun off a portion of the existing PVP A, to a new plan called PVP B (“PVP B”). As part of the PVP B plan termination process, a lump sum offering was provided during 2021 for PVP B participants and the final asset distribution was completed in the first quarter of 2022. At July 3, 2025, a pension reversion asset of $13.4 is recorded on the Restricted plan assets line item on the Company’s Condensed Consolidated Balance Sheets. Restricted plan assets are expected to be reduced over the next four years as they are distributed to employees under a qualified compensation and benefit program. Restricted plan assets are valued at fair value with gain or loss on fair value adjustments recognized within other income. The underlying investments’ fair value measurement levels under the FASB’s authoritative guidance on fair value measurements are Level 2, see Note 13 Fair Value Measurements. Employer Contributions 

The Company’s expected contributions for the current year have not significantly changed from those described in the Company’s 2024 Form 10-K. 

17.  Stock Compensation

 Holdings has established the stockholder-approved Amended and Restated 2014 Omnibus Incentive Plan (the “Omnibus Plan”), to grant cash and equity awards of Holdings’ Class A Common Stock, par value $0.01 per share (“Holdings Common Stock”), to certain individuals. Holdings has established the Long-Term Incentive Plan (the “LTIP”) under the Omnibus Plan to grant equity awards to certain employees of the Company.The Company recognized a net total of $7.5 and $9.4 of stock compensation expense for the three months ended July 3, 2025 and June 27, 2024, respectively, and a net total of $15.8 and $19.5 of stock compensation expense for the six months ended July 3, 2025 and June 27, 2024, respectively.During the six months ended July 3, 2025, 513,639 time or service-based restricted stock units (“RSUs”) were granted with an aggregate grant date fair value of $17.4 under the Company’s LTIP. Awards typically vest over a three-year period, beginning on the date of grant. Values for these awards are based on the value of Holdings Common Stock on the grant date.During the six months ended July 3, 2025, 53,944 shares of restricted Common