Company: ICUI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000883984-25-000007
Chunk: 234

Company: ICU MEDICAL INC/DE
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 234
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 INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Restricted stock units are granted annually to our non-employee directors and vest on the first anniversary of the grant date, or the date of our annual meeting, whichever occurs first. In 2024, 2023 and 2022, we granted RSUs to certain employees that typically vest ratably on the anniversary of the grant over three years. We recognize forfeitures as they occur.The grant-date fair market value of our PRSUs and RSUs is determined by our stock price on the grant date.The table below summarizes our restricted stock award activity (dollars in thousands):Year ended December 31,202420232022PRSUShares granted150,218 78,213 60,383 Shares earned (1)142,735 49,314 46,317 Grant-date fair value per share$104.52 $190.02 $230.31 Grant-date fair value$15,701 $14,862 $13,907 Intrinsic value vested$15,145 $8,024 $10,487 RSUShares granted223,899 156,111 116,870 Grant-date fair value per share$105.94 $173.10 $221.65 Grant-date fair value$23,721 $27,024 $25,905 Intrinsic value vested$11,963 $14,179 $16,438 _______________________________(1)    PRSU shares earned in 2024 were related to performance awards granted to executives and certain other employees in 2021, 2022 and 2023. PRSU shares earned in 2023 were related to performance awards granted to executives in 2020 and 2021 and performance awards granted to a non-executive employees in 2022. PRSU shares earned in 2022 were related to performance awards granted to executives in 2019, 2020 and 2021 and performance award granted to a non-executive employee in 2019, 2020, and 2021.The table below provides a summary of our PRSU and RSU activity as of and for the year ended December 31, 2024:   Number of UnitsGrant-Date Fair Value Per ShareWeighted-Average Contractual Life (Years)Aggregate Intrinsic Value (in thousands)Non-vest