Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 58

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 or stock options are forfeited upon a “Termination of Service,” as defined in the Plan, or as otherwise provided in the applicable award agreement or determined by the Company’s Compensation Committee of the Board of Directors. In connection with the equity awards, the share-based compensation expense was $4.0 and $1.9 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. The income tax benefit from share-based compensation was $0.7 and $0.4 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. Restricted Stock Unit GrantsRSUs are subject to a vesting period between one and four years. RSU activity for the three month period ended March 29, 2025 is as follows:(amounts in millions, except share and per share data)RSUsWeighted Average Grant Date Fair ValueUnvested, outstanding at December 28, 20241,954,846 $13.1 Granted742,652 8.3 Vested(399,346)13.3 Forfeited(8,889)11.6 Unvested, outstanding at March 29, 20252,289,263 $11.5 Share-based compensation expense for RSUs is recognized straight line over the respective vesting period, reduced for actual forfeitures, and included in general and administrative expense in the accompanying Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income. Total compensation expense related to the above awards was approximately $3.0 and $1.2 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. As of March 29, 2025, there was an aggregate of $21.1 of unrecognized expense related to the RSUs granted, which the Company expects to amortize over a weighted average period of 1.9 years. Performance-based Restricted Stock Unit GrantsPSU awards are based on the satisfaction of the Company’s three-year cumulative financial targets. The number of PSUs that become earned can range between 0% and 200% of the original target number of PSUs. PSUs are subject to a two-year or three-year performance cliff-vesting period. PSUs activity for the three month period ended March 29, 2025 is as follows:(amounts in millions, except share and per share data)PSUsWeight