REGAL REXNORD CORP

9. SHAREHOLDERS’ EQUITY

Repurchase of Common Stock

At a meeting of the Board of Directors on October 26, 2021, the Company's Board of Directors approved the authorization to purchase up to $500.0 million of shares under the Company's share repurchase program. During the three and nine months ended September 30, 2024, the Company purchased and retired 332,439 shares of its common stock at an average cost of $150.42 per share for a total cost of $50.0 million. There wereno repurchases of the Company's shares during the three and nine months ended September 30, 2023.

Based on share repurchase activity since the most recent authorization, as of September 30, 2024, the maximum value of shares of the Company’s common stock available to be purchased was approximately $145.0 million.

Share-Based Compensation

The Company recognized approximately $8.3 million and $12.9 million in share-based compensation expense for the three months ended September 30, 2024 and September 30, 2023, respectively, and approximately $26.9 million and $49.1 million for the nine months ended September 30, 2024 and September 30, 2023, respectively. The $49.1 million 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 $1.0 million and $2.6 million for the three months ended September 30, 2024 and September 30, 2023, respectively, and $4.6 million and $6.3 million for the nine months ended September 30, 2024 and September 30, 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 thenine months ended September 30, 2024, the Company granted the following share-based incentive awards: