Company: NE-WTA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006184
Chunk: 181

Company: Noble Corp plc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 181
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 is based on a comparison of 

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NOBLE CORPORATION plc AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unless otherwise indicated, dollar and share amounts in tables are in thousands) 

the final performance metrics to the specified targets. For performance-based awards, compensation expense is recognized based on the number of Ordinary Shares expected to be issued and the market price per Ordinary Share on the date of grant. Over the performance period, the number of shares expected to be issued is adjusted upward or downward based upon the probability of achievement of the performance targets. The market-based awards are valued on the date of grant based on the estimated fair value. Estimated fair value is determined based on numerous assumptions, including an estimate of the likelihood that our stock price performance will achieve the targeted thresholds and the expected forfeiture rate. The fair value is calculated using a Monte Carlo Simulation Model. The assumptions used to value the market-based awards include historical volatility and risk-free interest rates over a time period commensurate with the remaining term prior to vesting, as follows, for the respective grant dates:Year EndedYear EndedYear EndedDecember 31, 2024December 31, 2023December 31, 2022 January 26, 2024February 3, 2023February 3, 2022Valuation assumptions: Expected volatility rate (1)44.1 %83.0 %74.8 %Risk-free interest rate4.16 %3.96 %1.42 %(1)Expected dividend yield is included in the model via its impact on the historical volatility rate, which is based on daily returns inclusive of dividends.Additionally, similar assumptions were made for each of the companies included in the defined index and the peer group of companies in order to simulate the future outcome using the Monte Carlo Simulation Model. For market-based awards, compensation expense is recognized on a straight-line basis over the vesting terms.A summary of the RSUs awarded during the periods indicated is as follows:Year EndedYear EndedYear EndedDecember 31, 2024December 31, 2023December 31, 2022Equity-classified TVRSUs  Units awarded 839,773 384,995 988,750 Weighted-average award date fair value$40.54 $39.54 $27.85 Weighted-average vesting period (years)2.372.902.94Liability-classified TVRSUsUnits awarded