Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 207

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 207
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29,553 39,517 Directors16,810 29,553 39,517 Employees 78,360 81,874 207,576 Employees31,470 329,650 300,305 Total Granted95,170 111,427 247,093 Total Vested48,280 359,203 339,822 Taxes(11,395)(43,322)(47,274)Net Vested36,885 315,881 292,548 Tiptree Senior Management Incentive PlanOn August 4, 2021, a total of 3,500,000 Performance Restricted Stock Units (PRSUs) were awarded to members of the Company’s senior management. An additional 350,000 PRSUs were awarded on October 14, 2022. The PRSUs have a 10-year term and are subject to the recipient’s continuous service and a market requirement. A portion of the PRSUs will generally vest upon the achievement of each of five Tiptree share price target milestones ranging from $15 to $60, adjusted for dividends paid, within five pre-established determination periods (subject to a catch-up vesting mechanism) occurring on the second, fourth, sixth, eighth and tenth anniversaries of the grant date. In November 2021 and October 2024, the first and second tranches of the PRSUs vested, resulting in a net issuance of 215,583 and 462,766 shares, respectively, of Tiptree common stock. 

F-58

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024(in thousands, except share data)

On January 1, 2024, Tiptree granted 1,420,833 PRSUs to members of the Company’s senior management. The PRSUs will generally vest upon achievement of a $70 Tiptree share price target (adjusted for dividends paid) prior to the tenth anniversary of the date of grant, subject to the Grantee’s continued employment with Tiptree.As of December 31, 2024, 4,520,833 PRSUs were unvested. The below table illustrates the aggregate number of PRSUs that will vest upon the achievement of each Tiptree share price target. Such price targets are adjusted down for cumulative dividends paid by the Company since grant (e.g., the next share price target is $