Company: ASC
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001558370-25-009775
Chunk: 28

Company: Ardmore Shipping Corp
Filing Date: 2025-07-30
Form: 6-K
Chunk 28
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 charter-in a vessel for a period of 12 months with the option to extend for a further three months. The Company elected the practical expedientof FASB Accounting Standards Codification 842- Leases (“ASC 842”), which allows for leases with an initial lease term of 12 monthsor less to be excluded from the operating lease right-of-use assets and lease liabilities. The Company recognizes the lease costs for all vessel-related operating leases as charter hire expenses, split between lease and non-lease components, on the condensed consolidated statements of operations on a straight-line basis over the lease term. For office operating leases, the Company has elected to combine lease and non-lease components on the condensed consolidated balance sheets and statements of operations.

<div align='center'>F-12</div>

Ardmore Shipping Corporation Notes to the Unaudited Interim Condensed Consolidated Financial Statements For the six months ended June 30, 2025 and June 30, 2024 (Expressed in thousands of U.S. Dollars, except for shares and as otherwise stated)

6. Share-based Compensation

Time Restricted stock units (“TRSUs”)

Changes in the TRSUs for the six months ended June 30, 2025 are set forth below:

| ​                                                       
 ​                                                       
 ​                                                       
 ​                                                       | ​ 
 ​ 
 ​ |         ​ 
         ​ 
 Number of 
     TRSUs | ​ 
 ​ 
 ​ | ​                   
 Weighted average    
 fair value at grant 
 date                |     ​ |
|:--------------------------------------------------------|:--|----------:|:--|:--------------------|------:|
| Balance as of January 1, 2025                           |   |   283,757 |   | $                   | 13.04 |
| TRSUs granted during the six months ended June 30, 2025 | ​ |   170,481 | ​ | $                   |  9.53 |
| TRSUs vested during the six months ended June 30, 2025  | ​ |  -208,775 | ​ | $                   | -7.97 |
| Balance as of June 30, 2025 (none of which are vested)  |   |   245,463 | ​ | $                   | 14.92 |

The total cost related to non-vested TRSU awards expected to be recognized through 2028 is set forth below in thousands of U.S. Dollars:

| ​       
 Period  |