Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 137

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 137
---
 2.6 years, respectively. The Company recognized stock compensation expense related to stock options of zero and $0.1 million for the three months ended September 30, 2025 and 2024, respectively, and $0.1 million and $0.5 million for the nine months ended September 30, 2025 and 2024, respectively.Restricted Stock AwardsThe Company has issued Restricted Stock Awards ("RSAs") in the form of restricted stock units to non-employee members of the Board of Directors, which allow the holders to each receive shares of the Company’s common stock following a one-year vesting period. Vesting of the RSAs issued is based on time and service. On June 11, 2025 and July 23, 2025, the Company issued RSAs to non-employee members of the Board of Directors, of which 67,729 unvested RSAs were outstanding at September 30, 2025. The Company recognized stock compensation expense related to RSAs of $0.2 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively, and $0.8 million and $0.7 million for the nine months ended September 30, 2025 and 2024, respectively.As of September 30, 2025, the Company had $0.7 million unrecognized compensation cost related to unvested RSAs granted under the Company’s stock compensation plans. That cost is expected to be recognized over a weighted average period of 0.8 years.All currently outstanding and unvested RSAs provided to the non-employee members of the Board of Directors were issued under the 2024 Plan.

35

Long-Term Incentive Plan AwardsThe Company has granted long-term incentive plans awards (“LTIP Awards”) to executive officers, senior management, and certain other employees of the Company. LTIP Awards generally are granted in the form of restricted stock units (each, an “RSU” and collectively, the “RSU LTIP Awards”) and constitute awards under the 2013 Plan and 2024 Plan. A portion of the RSUs are subject to time-based vesting conditions and will vest over a three-year period ("TRSUs"). As of September 30, 2025, there are 744,633 TRSUs outstanding and unvested.Additionally, in April 2022, the General Partner granted 59,707 TRSUs subject