What was the weighted-average grant date fair value of the PSUs granted by The Standardx in 2024?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
summary of the status of the nonvested PSU awards outstanding under the LTIP is presented below:
| PSUs | Weighted-average grant date fair value | |
|---|---|---|
| Nonvested at December 31, 2023 | 555,401 | $ 91.45 |
| Granted | 177,795 | 159.69 |
| Vested | (226,038) |
Source: Item 10 — OTHER ASSETS (FDD pages 132–156)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the weighted-average grant date fair value of Performance Share Units (PSUs) granted in 2024 was $159.69. The FDD also provides the weighted-average grant date fair values for PSUs granted in 2023 and 2022, which were $120.64 and $83.58, respectively.
Additionally, the document states that during the year ended December 31, 2024, $27 million of PSUs vested. At the end of 2024, the total intrinsic value of nonvested PSUs was $80 million, assuming target performance levels are achieved. The total unearned compensation for PSUs at the end of 2024 was $13 million, which The Standardx expects to recognize over a weighted-average period of one year.
The FDD also includes a table summarizing the status of PSUs. According to the table, the weighted-average grant date fair value of PSUs granted during 2024 was indeed $159.69. This table also shows the number of PSUs nonvested at the end of 2023 (555,401), the number of PSUs granted (177,795), and the number of PSUs vested (226,038) during 2024. At the end of 2024, the number of PSUs nonvested was 507,158, with a weighted-average grant date fair value of $102.84.