Company: AXS-PE
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001214816-25-000115
Chunk: 41

Company: AXIS CAPITAL HOLDINGS LTD
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 41
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 is recognized on a straight-line basis over the requisite service period and is subject to periodic adjustment based on the achievement of established performance criteria during the performance period. 

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Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)8.    SHARE-BASED COMPENSATION (CONTINUED)

The following table provides an activity summary of the Company's share-settled restricted stock units for the three months ended March 31, 2025:Share-Settled Performance Restricted Stock UnitsShare-Settled Service Restricted Stock UnitsNumber ofrestrictedstock unitsWeighted averagegrant datefair valueNumber ofrestrictedstock unitsWeighted  averagegrant datefair valueNon-vested restricted stock units - beginning of period247 $65.73 1,642 $57.73      Granted89 98.22 577 90.42 Performance adjustment (1)55 68.63 — —      Vested(115)68.63 (599)56.73      Forfeited— — (25)61.10 Non-vested restricted stock units - end of period276 $75.61 1,595 $69.90 (1) The performance adjustment represents the difference between the number of performance restricted stock units granted and earned, that vested following the three-year performance period that ended in 2024. The performance restricted stock units were granted at the target level of achievement. The following table provides additional information related to share-based compensation:Three months ended March 31,20252024Share-based compensation expense$11,829 $13,671 Tax benefits associated with share-based compensation expense$5,351 $2,763 Fair value of restricted stock units vested(1)$68,889 $41,156 Unrecognized share-based compensation expense$107,782 $92,556 Expected weighted average period associated with the recognition of unrecognized share-based compensation expense2.9 years2.9 years(1) Fair value is based on the closing price of the Company's common shares on the vest date.

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Table of  ContentsAXIS CAPITAL HOLDINGS LIMITEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 9.    SHAREHOLDERS' EQUITY

The following table presents changes in common shares issued and outstanding