Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 64

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 64
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208)14.40 Awards forfeited(175)13.51 RSUs at December 31, 20241,904 12.99 The total fair value of RSAs and RSUs vested during the year ended December 31, 2024 was $2.8 million and $17.4 million, respectively. RSUs and RSAs vest over time subject to the employee's continuing service.Market-Based Performance Restricted Stock UnitsPerformance restricted stock units (PRSUs) were granted in 2024, 2023, and 2022 and will vest upon meeting certain performance criteria. The number of shares that a participant receives is equal to the number of PRSUs granted multiplied by a payout factor ranging from 0% to 200%. The performance criteria that determines the payout factor is our Total Shareholder Return ("TSR") for a performance period of three years relative to the TSR of companies in the Russell 2000 Index. The table below reflects details relating to the payout factor of our outstanding PRSUs:ObjectiveBelow ThresholdThresholdTargetMaximum(1)Percentile Rank of our TSR against the Russell 2000Below the 25th percentile25th percentile50th percentile75th percentile or higherPercentage of PRSUs Eligible for Vesting(2)0% - no PRSUs vest50%100%200%(1)The percentage of PRSUs eligible for vesting is capped at 100% if our TSR over the performance period is negative.(2)If our TSR over the performance period is between the 25th and 50th percentile, or it is positive and between the 50th and 75th percentile, then the percentage of the target number of PRSUs that will be eligible to vest will be interpolated linearly between the corresponding percentages designated for those percentiles.PRSU grant activity under our equity incentive plan was as follows (in thousands, except weighted-average grant date fair values):Fiscal Year Granted 202420232022Performance periodApril 1, 2024 - March 31, 2027April 1, 2023 - March 31, 2026July 1, 2022 - June 30, 2025Weighted-average grant date fair value$18.51$14.21$14.89Number of awards originally granted514 484 411 Number of awards forfeited as of December 31, 2024(6)(6)(52)Number of awards outstanding at December