REGAL REXNORD CORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
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Mar 31, 2024 · Filed May 7, 2024
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9. Shareholders' Equity
- SHAREHOLDERS’ EQUITY
Share-Based Compensation
The Company recognized approximately $9.1 million and $21.7 million in share-based compensation expense for the three months ended March 31, 2024 and March 31, 2023, respectively. The expense for the three months ended March 31, 2023 includes $15.7 million related to the accelerated vesting of awards for certain former Altra employees. The total income tax benefit recognized in the Condensed Consolidated Statements of Income (Loss) for share-based compensation expense was $2.1 million and $1.4 million for the three months ended March 31, 2024 and March 31, 2023, respectively. The Company recognizes compensation expense on grants of share-based compensation awards on a straight-line basis over the vesting period of each award.
During thethree months ended March 31, 2024, the Company granted the following share-based incentive awards:
| Award Type | Number of Awards | Weighted Average Grant-Date Fair Value |
|---|---|---|
| Options and SARs | 99,566 | $62.85 |
| Restricted Stock Units | 107,395 | $167.43 |
| Performance Share Units | 53,206 | $245.81 |
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