Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 145

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 price of Converted NSOs was adjusted using the equity award exchange ratio such that the award holders maintained the same economic benefit as of the Closing Date.The total fair value of the Converted RSUs and Converted NSOs was $176.8 million as of the Beacon Acquisition’s Closing Date, of which $87.5 million was related to pre-combination expense and was included as a component of purchase price. The remaining fair value of $89.3 million relates to post-combination expense, of which $37.5 million was accelerated and recognized during the quarter. As of June 30, 2025, the future unrecognized stock-based compensation expense related to the outstanding Converted RSUs was $42.5 million, which will be recognized over a remaining service period of 1.5 years. As of June 30, 2025, the future unrecognized stock-based compensation expense related to the outstanding Converted NSOs was $1.7 million, which will be recognized over a remaining service period of 1.1 years. Converted NSOsConverted NSOs generally expire 10 years after the grant date and, except under certain conditions, the options are subject to continued employment and vest in three annual installments over the three-year period following the grant date. During the six months ended June 30, 2025, the Company issued 5.1 million of Converted NSOs with a weighted average exercise price of $5.04, of which 2.9 million were exercised during the period at a weighted average exercise price of $4.97.

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RSUsThe Company grants RSUs which vest subject to the employee’s continued employment with the Company through the applicable vesting date.The following table summarizes the activity related to the Company’s RSUs for the six months ended June 30, 2025:(in millions, except for weighted average grant date fair value)Number of RSUsWeighted Average Grant Date Fair ValueBalance at beginning of period13.5 $11.57 Granted 0.7 $12.23 Converted RSUs9.7 $13.23 Vested(4.4)$13.20 Forfeited(0.3)$11.98 Balance at end of period19.2 $12.06 The following table summarizes additional information regarding RSUs:Six Months Ended June 30,2025Weighted-average fair value per share of RSUs granted and converted$13.16 Total grant date fair value of RSUs vested