Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 186

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 186
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 employment. The plan contains a provision whereby the Company matches a percentage of employee contributions. During fiscal years 2024, 2023, and 2022, the costs associated with this defined contribution plan totaled $30.9 million, $31.6 million, and $28.8 million, respectively.

15. STOCK-BASED COMPENSATION

The Company has stock-based compensation plans under which employees and non-employee directors are granted stock-based awards such as stock options, RSUs, and PSUs.During fiscal years 2024, 2023, and 2022, the primary share-based awards and their general terms and conditions are as follows:•Stock options, which entitle the holder to purchase a specified number of shares of common stock at an exercise price equal to the closing market price of common stock on the date of grant; typically vest over 4 years; and typically expire 5 or 10 years from date of grant.

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CHARLES RIVER LABORATORIES INTERNATIONAL, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

•RSUs, which represent an unsecured promise to grant at no cost a set number of shares of common stock upon the completion of the vesting schedule, and principally vest over 4 years. With respect to RSUs, recipients are not entitled to cash dividends and have no voting rights on the stock during the vesting period.•PSUs, which entitle the holder to receive at no cost, a specified number of shares of common stock within a range of shares from zero to a specified maximum and typically vest over 3 years. Payout of this award is contingent upon achievement of certain performance and market conditions.As of December 28, 2024, approximately 3.3 million shares were authorized for future grants under the Company’s share-based compensation plans. The Company settles employee share-based compensation awards with newly issued shares. The following table provides stock-based compensation by the financial statement line item in which it is reflected:Fiscal Year202420232022(in thousands)Cost of revenue$15,658 $15,052 $14,853 Selling, general and administrative54,233 56,996 58,764 Stock-based compensation, before income taxes69,891 72,048 73,617 Provision for income taxes(10,487)(10,907)(10,969)Stock-based compensation, net of income taxes$59,404 $61,141