Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 79

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 79
---
 2025 and December 31, 2024, the stock options outstanding had a weighted average remaining contractual life of approximately 3.2 years and 2.6 years, respectively. The Company recognized stock compensation expense related to stock options of $17 thousand and $0.1 million for the three months ended June 30, 2025 and 2024, respectively and $0.1 million and $0.4 million for the six months ended June 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, the Company issued RSAs to non-employee members of the Board of Directors, of which 68,328 unvested RSAs were outstanding at June 30, 2025. The Company recognized stock compensation expense related to RSAs of $0.3 million and $0.2 million for the three months ended June 30, 2025 and 2024, respectively, and $0.6 million and $0.4 million for the six months ended June 30, 2025 and 2024, respectively.

34

As of June 30, 2025, the Company had $1.0 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 0.9 years.All currently outstanding and unvested RSAs provided to the non-employee members of the Board of Directors were issued under the 2024 Plan.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 June 30, 2025, there are 752,911 TRSUs outstanding and