Company: PRSU
Filing Date: 2025-06-30
Form Type: 11-K
Source: 0000950170-25-091425
Chunk: 8

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-06-30
Form: 11-K
Chunk 8
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. Additionally, as a result of revenue sharing, participants were not charged for the cost of legal review of qualified domestic relations orders. Expenses incidental to the operation of the Plan may be paid by the Plan or directly by the Company. The Plan held undistributed administrative revenue of $285,258 as of December 31, 2024 and $375,179 as of December 31, 2023. Future plan expenses can be paid from any excess remaining revenue sharing amounts.

The Plan’s investment options charge management fees and operating expenses that are built into the operating cost of the investment and referred to as an “expense ratio” or “total annual operating expenses,” which are deducted periodically from the investment. Consequently, these costs are not separately reflected as expenses to the Plan but as a reduction of investment income.

Payment of Benefits

Benefit payments to participants are recorded upon distribution. During 2024, one participant elected to withdraw from the Plan and received a payment of $8,806 subsequent to December 31, 2024. During 2023, there were no participants who elected to withdraw from the Plan, but had not yet been paid at December 31, 2023.

Note 3.Fair Value Measurements

ASC 820,Fair Value Measurements and Disclosures, provides a framework for measuring fair value. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as follows:

Level 1 - quoted prices in active markets for identical investments.

Level 2 - observable inputs other than quoted prices included within Level 1 that are observable either directly or indirectly.

Level 3 - unobservable inputs to the valuation methodology that are significant to the measurement of fair value.

Asset Valuation Techniques- Valuation methodologies maximize the use of quoted prices and other observable inputs and minimize the use of unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value:

Common stock - Valued at the closing price reported on the New York Stock Exchange on the last business day of the Plan year.

Mutual funds - Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-ended and are registered with the Securities and Exchange Commission. These mutual funds are required to publish their daily net asset value (“NAV”) and to transact at that price.