Company: JBI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001839839-25-000150
Chunk: 24

Company: Janus International Group, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 period.PSUs activity for the nine month period ended September 27, 2025 is as follows:(amounts in millions, except share and per share data)PSUsWeighted-Average Grant Date Fair ValueUnvested, outstanding at December 28, 20241,273,451 $9.85 Granted390,136 8.84 Incremental units granted based on performance242,353 9.40 Vested(484,708)9.40 Forfeited(33,411)11.22 Unvested, outstanding at September 27, 2025(1)1,387,821 $9.61 

(1)This number includes 431,355 performance stock units, which are projected to payout at 0% due to performance results from previously-granted PSU awards.

Share-based compensation expense for PSUs is recognized straight line over the requisite vesting period, reduced for actual forfeitures, and included in general and administrative expense in the accompanying Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income. Total compensation expense (benefit) related to the PSUs was approximately $0.2 and $(1.1) for the three month periods ended September 27, 2025 and September 28, 2024, respectively, and $2.1 and $0.2 for the nine month periods ended September 27, 2025 and September 28, 2024, respectively. As of September 27, 2025, there was an aggregate of $4.3 of unrecognized expense related to the PSUs granted, which the Company expects to amortize over a weighted average period of 1.5 years.

The above table represents PSUs assuming 100% of target payout at the time of the grant for the unvested units. The incremental units in the above table represent a 200% target payout based on achievement of certain performance metrics related to the 2022 PSU grants.

12. RestructuringDuring fiscal year 2024, we initiated a multi-phase restructuring plan to improve our operational efficiencies to support our corporate strategy. We incur costs associated with restructuring initiatives intended to improve operating performance, profitability, and efficiency of business 

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Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

processes. Restructuring expenses include severance costs, relocation costs, recruiting fees affiliated with hiring new personnel, legal costs, gain/loss on disposal