Company: MCFT
Filing Date: 2025-08-27
Form Type: 10-K
Source: 0000950170-25-111682
Chunk: 59

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-08-27
Form: 10-K
Item: Item 6
Chunk 59
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 best estimate of the achievement of the performance criteria. PSUs awarded in fiscal 2025 have performance criteria set annually over the three-year performance period. This performance criteria is cumulative and is based upon the respective year’s performance compared to budget, which has not yet been established for years two and three. Therefore, the compensation expense for these awards will not begin until all the key terms and conditions of these awards are known, which will be year three of the performance period.

60

The fair value of PSUs vested during the years ended June 30, 2025, 2024, and 2023 was $1.0 million, $0.7 million, and $1.7 million, respectively. A summary of PSU activity for these years is as follows:

         Number of Performance Stock Units

         Weighted Average Grant Date Fair Value

         Total Non-vested Performance Stock Units at June 30, 2022

         105,190

         $
         25.30

         Granted

         76,567

         26.08

         Vested

         (56,790
         )

         22.38

         Forfeited

         (1,996
         )

         26.15

         Total Non-vested Performance Stock Units at June 30, 2023

         122,971

         27.12

         Granted

         86,555

         21.62

         Vested

         (39,554
         )

         28.71

         Forfeited

         (30,062
         )

         24.84

         Total Non-vested Performance Stock Units at June 30, 2024

         139,910

         23.62

         Vested

         (53,861
         )

         26.11

         Forfeited

         (19,956
         )

         23.48

         Total Non-vested Performance Stock Units at June 30, 2025

         66,093

         21.63

       As of June 30, 2025, there was no unrecognized compensation expense related to non-vested PSUs.Nonqualified Stock OptionsIn July 2015, the Company granted 137,786 NSOs to certain employees. As of July 2019, all outstanding options were fully vested and exercisable. All outstanding options were exercised as of June 30,