STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

Non-Qualified Employee Stock Award Plan

At September 30, 2025, there were 1,016,402 authorized shares remaining available for future issuance pursuant to the United Fire Group, Inc. 2021 Stock and Incentive Plan (as amended, the "Stock Plan"). The activity in the Stock Plan is displayed in the following table:

Authorized Shares Available for Future Award Grants	Nine months ended September 30, 2025
Beginning balance	1,335,589
Additional shares authorized	—
Number of awards granted	(381,854)
Number of awards forfeited or expired	116,444
Performance-based adjustments	(53,777)
Ending balance	1,016,402
Number of option awards exercised	15,363
Number of restricted awards vested and issued	85,298

Non-Qualified Non-Employee Director Stock Plan

At September 30, 2025, the Company had 37,210 authorized shares available for future issuance pursuant to the United Fire Group, Inc. Non-Employee Director Stock Plan (the "Director Stock Plan"). The activity in the Director Stock Plan is displayed in the following table:

Authorized Shares Available for Future Award Grants	Nine months ended September 30, 2025
Beginning balance	71,410
Additional authorization	—
Number of awards granted	(34,200)
Number of awards forfeited or expired	—
Ending balance	37,210
Number of option awards exercised	—
Number of restricted awards vested and issued	32,190

Stock-Based Compensation Expense

For the three-month periods ended September 30, 2025 and 2024, the Company recognized stock-based compensation expense of $2,316 and $1,087, respectively.

As of September 30, 2025, we had $11,796 in stock-based compensation expense that has yet to be recognized through our results of operations. We expect this compensation to be recognized over the remainder of 2025 and subsequent years according to the table below, except with respect to awards that are accelerated by the Board of Directors, in which case we will recognize any remaining compensation expense in the period in which the awards are accelerated.

2025	$	2,076
2026	6,316
2027	3,045
2028	359
Total	$	11,796