Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 178

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 178
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        Nonvested - December 31, 2023

        365,110

        $
        88.47

        Granted

        193,029

        79.79

        Canceled

        (20,485
        )

        85.58

        Vested

        (170,669
        )

        86.40

        Nonvested - December 31, 2024

        366,985

        $
        85.03

      As of December 31, 2024, there was $13.0 million of unrecognized compensation cost related to the nonvested service-based restricted stock units. The cost is expected to be recognized over a period of 1.6 years. 

116

Total fair value of units vested during the years ended December 31, 2024, 2023, and 2022 was $14.1 million, $9.7 million, and $11.4 million, respectively.The table below discloses the status of the performance-based restricted stock units during 2024: 

        Number of Units

        Weighted Average Price Per Unit

        Performance-Based Restricted Stock Units Under the OICP

        Nonvested - December 31, 2023

        145,132

        $
        70.92

        Granted

        66,306

        73.42

        Canceled

        (6,734
        )

        79.91

        Vested

        (97,846
        )

        70.92

        Performance-based adjustment

        48,923

        70.92

        Nonvested - December 31, 2024

        155,781

        $
        71.60

      As of December 31, 2024, there was $3.2 million of unrecognized compensation cost related to the nonvested performance-based restricted stock units. The cost is expected to be recognized over a period of 1.8 years. The fair value of units vested during the years ended December 31, 2024, 2023 and 2022 was $8.2 million, $11.1 million, and $7.4 million, respectively. 

12. BUSINESS SEGMENT REPORTINGThe Company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking (collectively, the Business Seg