Stock-Based Compensation Plans |
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| Stock-Based Compensation Plans | Note 6—Stock-Based Compensation The 2019 Incentive Plan authorizes the issuance of up to 15,885,000 RSUs. The Company issues new shares of common stock upon vesting and settlement of RSUs. Shares for vested RSUs are generally delivered to participants annually, net of shares withheld for taxes. Summary of Restricted Stock Unit Activity At February 15, 2026, 5,234,000 shares were available to be granted as RSUs, and the following awards were outstanding: •1,934,000 time-based RSUs, which vest upon continued employment over specified periods. Some of these RSUs accelerate upon achievement of a long-service term; •60,000 performance-based RSUs granted to executive officers, for which the performance targets have been met. The awards vest upon continued employment over specified periods of time and upon achievement of a long-service term; and •67,000 performance-based RSUs granted to executive officers, subject to achievement of performance targets for 2026, as determined by the Compensation Committee of the Board of Directors after the end of the fiscal year. These awards are included in the table below and in the amount of unrecognized compensation cost. The Company recognized compensation expense for these awards in the second quarter of 2026, as it is currently deemed probable that the targets will be achieved. The following table summarizes RSU transactions during the first half of 2026:
The remaining unrecognized compensation cost related to RSUs unvested at February 15, 2026, was $1,224, and the weighted-average period over which this cost will be recognized is 1.6 years. Summary of Stock-Based Compensation The following table summarizes stock-based compensation expense and the related tax benefits:
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