Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 55

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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2014 Stock Incentive Plan (the “2014 Plan”), which provides for the granting of non-qualified and incentive stock options, restricted stock and restricted stock units, stock appreciation rights and other awards to employees, directors and consultants. The Company also has an employment agreement with its Chief Executive Officer that provides for an award of restricted stock units. For additional information regarding the Company’s stock-based compensation plans, see Note 16—“Stock-Based Compensation” in the 2024 Form 10-K. At December 31, 2024, 1,251,191 shares of common stock were authorized for future awards under the 2014 Plan. As of December 31, 2024, the total compensation cost not yet recognized related to non-vested awards was $56.6 million, which is expected to be recognized over a weighted-average period of 1.3 years.The following table presents the status and changes in RSUs:RSUsWeighted-AverageGrant-Date Fair ValueNon-vested balance at June 30, 20241,541,194 $43.95 Granted703,218 64.68 Vested(349,700)42.63 Forfeited(52,114)47.06 Non-vested balance at December 31, 20241,842,598 $52.02 The total fair value of shares vested for the three and six months ended December 31, 2024 was $0.7 million and $23.2 million, respectively. The total fair value of shares vested for the three and six months ended December 31, 2023 was $0.1 million and $14.9 million, respectively.Common Stock Repurchases.The following table presents common stock repurchases:For the Three Months Ended December 31, For the Six Months Ended December 31, (Dollars in thousands except per share data)2024202320242023Total repurchase$— $58,650 $— $83,186 Number of shares repurchased— 1,607,301 — 2,255,509 Average price paid per share$— $36.49 $— $36.88 As of December 31, 2024, there was $106.5 million of share repurchase authorization remaining. The share repurchase program will continue in effect until terminated by the Board of Directors of the Company. For additional information regarding the