Booz Allen Hamilton Holding Corp
For the period ended Dec 31, 2024. Filed Jan 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2024 · Filed Jan 31, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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13. Stock-Based Compensation
- Stock-Based Compensation
The following table summarizes stock-based compensation expense recognized in the condensed consolidated statements of operations:
| Three Months EndedDecember 31, | Nine Months EndedDecember 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Cost of revenue | $9,115 | $9,348 | $25,938 | $26,300 |
| General and administrative expenses | 16,003 | 14,419 | 44,892 | 34,977 |
| Total | $25,118 | $23,767 | $70,830 | $61,277 |
The following table summarizes the total stock-based compensation expense recognized in the condensed consolidated statements of operations by the following types of equity awards, including stock options, time-based and performance-based restricted stock awards. Compensation expense for performance-based awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria of each tranche during the respective performance periods:
| Three Months EndedDecember 31, | Nine Months EndedDecember 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Equity Incentive Plan Options | $221 | $297 | $731 | $991 |
| Restricted Stock and other awards | 24,897 | 23,470 | 70,099 | 60,286 |
| Total | $25,118 | $23,767 | $70,830 | $61,277 |
As of December 31, 2024, there was $92.1 million of total unrecognized compensation cost related to unvested stock-based compensation agreements. Absent the effect of forfeiture or acceleration of stock compensation cost for any departures of employees, the following table summarizes the unrecognized compensation cost and the weighted-average period the cost is expected to be amortized (excludes any future award):
| Unrecognized Compensation Cost | Weighted Average Remaining Period to be Recognized (in years) | |
|---|---|---|
| Equity Incentive Plan Options | $1,514 | 3.10 |
| Restricted Stock Awards | 90,634 | 1.78 |
| Total | $92,148 |
Equity Incentive Plan
During the nine months ended December 31, 2024, the Board of Directors granted 0.6 million time-based and performance-based restricted stock units to certain employees of the Company. The aggregate value of these awards was $97.1 million based on the grant date fair value. The performance-based awards granted during the nine months ended December 31, 2024 included additional market conditions related to the Company’s total shareholder return relative to its peer group over thethree-year performance period. The Company recognizes compensation expense for these performance-based awards with market conditions based on the grant-date fair value calculated using a Monte Carlo model.
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