Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 71

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 71
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 million, $1.3 million and $1.2 million, respectively, of expense related to RSUs granted to non-employee directors as a component of their compensation. RSUs granted to non-employee directors prior to 2021 became fully vested on the grant date; after 2021 non-employee director RSUs fully vest on the first anniversary of the grant date.  PSUs also vest over a pre-determined period of time, generally not longer than three years, but are further subject to the achievement of certain business performance criteria being met. Based upon the level of achieved performance, the number of shares actually awarded can vary from 0 percent to 200 percent of the original grant. There were 4,241,889 RSUs outstanding as of December 31, 2024. All outstanding RSUs as of December 31, 2024 vest within three years of their date of grant. Upon vesting, all of the RSU awards will be converted into the right to receive one share of common stock of the Company for each unit that vests. The cost of these awards is determined using the fair value of the shares on the date of grant, and compensation expense is generally recognized over the period during which the employee provides the requisite service to the Company.  

70

 ACCO Brands Corporation and SubsidiariesNotes to Consolidated Financial Statements (Continued) 

A summary of the changes in the RSUs outstanding under the Plan during 2024 is presented below: 

        StockUnits

        Weighted Average Grant Date Fair Value

        Outstanding at December 31, 2023

        3,444,450

        $
        6.63

        Granted

        1,501,759

        $
        5.31

        Vested and distributed

        (253,634
        )
         
        $
        8.43

        Vested and deferred distributed

        (133,273
        )
         
        $
        7.71

        Forfeited and cancelled

        (317,413
        )
         
        $
        6.09

        Outstanding at December 31, 2024

        4,241,889

        $
        6.06

        Vested and deferred at December 31, 2024(1)

        767,216

        $
        7.80

       (1)Included in outstanding at December 31