Company: DRH-PA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001298946-25-000077
Chunk: 20

Company: DiamondRock Hospitality Co
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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9.  Equity Incentive Plans

We are authorized to issue up to 7,900,000 shares of our common stock under our 2024 Equity Incentive Plan (the "2024 Plan"), of which we have issued or committed to issue 2,578,905 shares as of June 30, 2025. Shares underlying awards that are granted under the 2024 Plan that are forfeited, cancelled, reacquired prior to vesting, satisfied without the issuance of stock or otherwise terminated (other than by exercise), including shares tendered or held back upon settlement of an award, other than a stock option or stock appreciation right, to cover the tax withholding will be added back to the shares available for issuance under the 2024 Plan.Restricted Stock AwardsRestricted stock awards issued to our officers and employees generally vest over a three to five year period from the date of grant based on continued employment. We measure compensation expense for the restricted stock awards based upon the fair market value of our common stock at the date of grant. Compensation expense is recognized on a straight-line basis over the vesting period and is included in corporate expenses in the accompanying consolidated statements of operations and comprehensive income. A summary of our restricted stock awards from January 1, 2025 to June 30, 2025 is as follows:Number ofSharesWeighted-Average GrantDate FairValueUnvested balance at January 1, 2025621,595 $8.90 Granted478,098 8.21 Vested(249,994)9.01 Unvested balance at June 30, 2025849,699 $8.48 The total unvested restricted stock awards as of June 30, 2025 are expected to vest as follows: 7,986 during the remainder of 2025, 401,192 during 2026, 271,928 during 2027, 167,332 during 2028, and 1,261 during 2029. As of June 30, 2025, the unrecognized compensation cost related to restricted stock awards was $5.9 million and the weighted-average period over which the unrecognized compensation expense will be recorded is approximately 27 months. We recorded $0.8 million and $1.5 million of compensation expense related to restricted stock awards for the three and six months ended June 30, 2025, respectively. We recorded $2.9 million and $3.