Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 324

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 324
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2023.    The non-qualified stock options issued under the LTIP carry a service requirement and grants issued prior to 2016 vested 50% after three years, 75% after four years and 100% after five years, while grants issued in 2016 through 2018 vested 50% after two years, 75% after three years and 100% after four years.The table below discloses the information relating to non-qualified option activity in 2024 under the LTIP: 

        Number of Shares

        Weighted Average Price Per Share

        Weighted Average Remaining Contractual Term

        Aggregate Intrinsic Value

        Stock Options Under the LTIP

        Outstanding - December 31, 2023

        97,624

        $
        64.20

        Granted

        —

        —

        Canceled

        —

        —

        Expired

        (3,934
        )

        59.72

        Exercised

        (63,476
        )

        64.64

        Outstanding - December 31, 2024

        30,214

        $
        63.87

        1.6

        $
        1,480,036

        Exercisable - December 31, 2024

        30,214

        $
        63.87

        1.6

        $
        1,480,036

       There were no options granted during 2024, 2023, or 2022.  The total intrinsic value of options exercised during the years ended December 31, 2024, 2023, and 2022, was $2.3 million, $640 thousand and $1.2 million, respectively.  As of December 31, 2024, there was no unrecognized compensation cost related to nonvested options.Cash received from options exercised under all share-based compensation plans was $4.1 million, $1.9 million, and $1.5 million for the years ended December 31, 2024, 2023, and 2022, respectively.  The tax benefit realized for stock options exercised was $590 thousand, $1.6 million, and $2.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. The Company has no specific policy to repurchase common shares to mitigate the