Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 83

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 strategies.Approximately $1,506 and $716 of contingent consideration was recorded in accrued expenses and other current liabilities as of March 31, 2025 and September 30, 2024, respectively. Approximately $2,544 and $1,636 of contingent consideration was recorded in other long-term liabilities as of March 31, 2025 and September 30, 2024, respectively.

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i3 VERTICALS, Inc.NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

13. EQUITY-BASED COMPENSATION

A summary of equity-based compensation expense for continuing operations recognized during the three and six months ended March 31, 2025 and 2024 is as follows:Three Months Ended March 31,Six Months Ended March 31,2025202420252024Stock options$1,572 $4,078 $3,988 $8,314 Restricted stock units2,360 944 3,758 2,066 Equity-based compensation expense$3,932 $5,022 $7,746 $10,380 In connection with the sale of the Merchant Services Business, $755 and $1,905 of the Company's equity-based compensation expense was classified within "net income from discontinued operations" in the accompanying condensed consolidated statements of operations during three and six months ended March 31, 2024.Amounts are included in other costs of services and in selling, general and administrative expense on the condensed consolidated statements of operations. Current and deferred income tax expense for continuing operations of $1,378 and $767 was recognized during the three and six months ended March 31, 2025, respectively, and current and deferred income tax benefit of $816 and $1,713 during the three and six months ended March 31, 2024, respectively.Stock OptionsIn May 2018, the Company adopted the 2018 Equity Incentive Plan (the “2018 Plan”) under which the Company may grant up to 3,500,000 stock options and other equity-based awards to employees, directors and officers. The number of shares of Class A common stock available for issuance under the 2018 Plan includes an annual increase on the first day of each calendar year equal to 4.0% of the outstanding shares of all classes of the Company's common stock as