INNOVATE Corp.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout this filing
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.
Sep 30, 2025 · Filed Nov 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
(14) Share-Based Compensation
- Share-based Compensation
Total share-based compensation expense recognized by the Company and its subsidiaries under all equity compensation arrangements was $0.7 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively, and was $2.2 million and $1.1 million for the nine months ended September 30, 2025 and 2024, respectively, which is included within Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.
All grants are time based and vest either immediately or over a period established at grant, typically with a requisite service period ofone tothree years for a member of the Board of Directors or an employee to vest in the share-based award, subject to discretion by Compensation Committee. There are no other substantive conditions for vesting. The Company recognizes compensation expense for equity awards, reduced by actual forfeitures as they are incurred, using the straight-line basis.
Restricted Stock and Restricted Stock Units
A summary of INNOVATE’s restricted stock and restricted stock unit activity is as follows:
| Number of Shares | Weighted-Average Grant Date Fair Value | |
|---|---|---|
| Unvested - December 31, 2024 | 294,663 | $8.12 |
| Granted | 278,389 | $5.90 |
| Vested | (246,355) | $8.05 |
| Forfeited | (12,521) | $7.99 |
| Unvested - September 30, 2025 | 314,176 | $6.22 |
The aggregate vesting date fair value of the restricted stock and restricted stock units which vested during the nine months ended September 30, 2025 and 2024, was $1.3 million and $0.3 million, respectively. As of September 30, 2025, the total unrecognized share-based compensation expense related to unvested restricted stock and restricted stock units was $1.5 million and is expected to be recognized over the remaining weighted-average period of 1.1 years.
Stock Options
A summary of INNOVATE’s stock option activity is as follows:
| Number of Stock Options | Weighted-Average Exercise Price | |
|---|---|---|
| Outstanding - December 31, 2024 | 217,733 | $16.94 |
| Granted | 100,000 | $5.67 |
| Outstanding - September 30, 2025 | 317,733 | $13.39 |
| Exercisable - December 31, 2024 | 117,733 | $27.74 |
| Exercisable - September 30, 2025 | 217,733 | $16.94 |
As of September 30, 2025, the intrinsic value and weighted-average remaining life of the Company's outstanding and exercisable stock options were $0.1 million and approximately 8.6 years, respectively. The maximum contractual term of the Company's exercisable stock options is approximatelyten years. As of September 30, 2025, there were 100,000 unvested stock options and $0.3 million of unrecognized share-based compensation expense related to unvested stock options and is expected to be recognized over the remaining period ofone year.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.