Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 456

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 456
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Us and PSUs of $12.7 million and $39.6 million, respectively, are expected to be recognized over a weighted-average period of approximately 1.3 years and 2.0 years, respectively. We recognized the following compensation costs, net of actual forfeitures, related to share-based compensation for the periods presented:

|                                                                   |     | Predecessor |  Two Months Ended 
 February 28, 2022 |     | Successor |  Ten Months Ended 
 December 31, 2022 |     |   |        Year Ended 
 December 31, 2023 |     |   |        Year Ended 
 December 31, 2024 |
|:------------------------------------------------------------------|:----|:------------|------------------:|:----|:----------|------------------:|:----|:--|------------------:|:----|:--|------------------:|
| Direct costs of revenue (excluding depreciation and amortization) |     | $           |               214 |     | $         |             5,197 |     | $ |             7,173 |     | $ |            12,018 |
| Selling, general and administrative                               |     |             |             1,055 |     |           |            13,435 |     |   |            18,256 |     |   |            34,580 |
| Total share-based compensation                                    |     | $           |             1,269 |     | $         |            18,632 |     | $ |            25,429 |     | $ |            46,598 |

On March 6, 2024, the Company modified the performance obligation for certain PSUs issued under the Incentive Plan for six grantees. The PSUs will vest upon the satisfaction of prescribed service and performance obligations. The modifications were accounted for in accordance with ASC 718, whereby the Company will recognize compensation cost for the PSUs equal to the unrecognized grant date fair value as of the modification date of the original awards plus any incremental fair value arising from the modification over the remaining requisite service period. The fair value of the awards was determined using a Monte Carlo simulation. As a result of the modification, the Company will recognize $46.5 million of compensation costs over the three year period subsequent to the modification date. Note 13—Income Taxes The Company measures deferred tax assets and liabilities using enacted tax rates that will apply in the years in which the temporary differences are