Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 106

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 106
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 2023, the Company announced that William L. Ballhaus was appointed as the Company’s President and Chief Executive Officer. Mr. Ballhaus received an onboarding grant of premium-priced stock options ("New Hire Option") under the 2018 Plan. The Company and Mr. Ballhaus are parties to an employment agreement, which is included in exhibit 10.1 on Form 8-K filed by the Company with the SEC on August 15, 2023.

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The following table summarizes activity with respect to Company-issued stock options since June 28, 2024:Options OutstandingNumber ofSharesWeighted AverageGrant DateFair ValueWeighted AverageExercise PriceWeighted AverageRemainingContractual Term(Years)AggregateIntrinsic Value as of March 28, 2025Outstanding at June 28, 2024934 $12.71 $45.00 — Granted— — Exercised— — Canceled— — Outstanding at March 28, 2025934 12.71 45.00 2.98 years— Exercisable at March 28, 2025— $— $— — — There were no options vested or exercised during the nine months ended March 28, 2025. Non-vested stock options are subject to the risk of forfeiture until the fulfillment of specified conditions. As of March 28, 2025, there was $6,685 of total unrecognized compensation cost related to non-vested options granted that is expected to be recognized over a weighted-average period of 1.98 years from March 28, 2025. The following table summarizes the status of the Company’s non-vested restricted stock awards and deferred stock awards since June 28, 2024: Non-vested Restricted Stock Awards Number ofSharesWeighted AverageGrant DateFair ValueOutstanding at June 28, 20241,526 $41.35 Granted902 39.93 Vested(394)44.22 Forfeited(164)42.04 Outstanding at March 28, 20251,870 $39.36 STOCK-BASED COMPENSATION EXPENSEThe Company recognizes expense for its share-based payment plans in the Consolidated Statements of Operations and Comprehensive Loss in accordance with ASC 718, Compensation - Stock Compensation (“ASC 718”). The