PRA GROUP INC

11. Share-Based Compensation:

The Company has a stockholder approved Omnibus Incentive Plan (the "Plan") that is intended to assist the Company in attracting and retaining selected individuals to serve as employees and directors who are expected to contribute to the Company's success and achievement of long-term objectives that will benefit the Company's stockholders. The Plan enables the Company to award shares of the Company's common stock to select employees and directors. As of December 31, 2024, there were approximately 2.9 million shares available to be awarded under the Plan.

Total share-based compensation expense was $13.5 million, $11.1 million and $13.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company recognizes all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. The total tax benefit/(deficiency) realized from share-based compensation was $(3.2) million, $(1.6) million and $6.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Nonvested shares

As of December 31, 2024, total future compensation expense related to nonvested share grants to individual employees and directors (not including nonvested shares granted under the Long-Term Incentive ("LTI") program discussed below), is estimated to be $13.1 million, with a weighted average remaining life oftwo years. For most of these grants, the Company assumed a 5.0% forfeiture rate, ratable vesting overone tothree years and expense recognition over the vesting period.

The following table summarizes nonvested share activity, excluding those issued pursuant to the LTI program, from December 31, 2021 through December 31, 2024 (amounts in thousands, except per share amounts):

The total grant date fair value of shares vested during the years ended December 31, 2024, 2023 and 2022, excluding those granted under the LTI program, was$10.5 million, $11.2 million and $9.5 million, respe ctively.

Long-term incentive program

Pursuant to the Plan, the Compensation Committee may grant time-vested and performance-based share awards. All shares granted under the LTI program were granted to key employees of the Company.

The following table summarizes LTI share activity from December 31, 2021 through December 31, 2024 (amounts in thousands, except per share amounts):

The total grant date fair value of LTI shares vested during the years ended December 31, 2024, 2023 and 2022, was$1.4 million, $6.0 million and $6.3 million, respectively.

As of December 31, 2024, total future compensation expense related to nonvested shares granted under the LTI program, assuming the current estimated performance levels are achieved, is estimated to be $5.3 million. The Company assumed a 5.0% forfeiture rate for these grants, and the remaining shares have a weighted average remaining life oftwo years as of December 31, 2024.