Company: BWXT
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001486957-25-000008
Chunk: 54

Company: BWX Technologies, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 54
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.5$3.3 The aggregate intrinsic value included in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their options on December 31, 2024. The intrinsic value is calculated as the total number of option shares multiplied by the difference between the closing price of our common stock on the last trading day of the period and the exercise price of the options. This amount changes based on the price of our common stock.During the years ended December 31, 2024, 2023 and 2022, the total intrinsic value of stock options exercised was $1.7 million, $2.8 million and $1.2 million, respectively. The actual tax benefits realized related to the stock options exercised during the year ended December 31, 2024 totaled $0.4 million.

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Restricted Stock UnitsNonvested restricted stock units as of December 31, 2024 and changes during the year ended December 31, 2024 were as follows (share data in thousands):NumberofSharesWeighted-AverageGrant DateFair ValueNonvested at beginning of period223 $55.47 Granted70 $99.51 Vested(125)$59.61 Cancelled/forfeited(8)$68.00 Nonvested at end of period160 $71.80 The actual tax benefits realized related to the restricted stock units vested during the year ended December 31, 2024 totaled $2.1 million.Performance SharesNonvested performance shares as of December 31, 2024 and changes during the year ended December 31, 2024 were as follows (share data in thousands):NumberofSharesWeighted-AverageGrant DateFair ValueNonvested at beginning of period520 $55.26 Adjustment to assumed vesting percentage60 $85.07 Granted115 $113.51 Vested(109)$59.38 Cancelled/forfeited(11)$67.13 Nonvested at end of period575 $69.27 The actual number of shares in which each participant vests is contingent upon achievement of a mix of certain targets (depending on the grant year), including return on invested capital; earnings before interest, taxes, depreciation and amortization; total shareholder return and diluted earnings per share, over a three-year performance period. The number of shares in which participants can vest ranges from