Restricted Stock, Restricted Stock Units, and Stock Options

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Restricted Stock, Restricted Stock Units, and Stock Options

Note 2. Restricted Stock, Restricted Stock Units, and Stock Options

As of March 31, 2025, the Company has three equity incentive plans: the AMERISAFE Non-Employee Director Restricted Stock Plan (the Restricted Stock Plan), the AMERISAFE 2012 Equity and Incentive Compensation Plan (the 2012 Incentive Plan) and the 2022 Equity and Incentive Compensation Plan (the 2022 Incentive Plan). In connection with the approval of the 2022 Incentive Plan by the Company’s shareholders at the annual meeting of shareholders in June 2022, no further grants will be made under the 2012 Incentive Plan. All grants made under the 2012 Incentive Plan will continue in effect, subject to the terms and conditions of the 2012 Incentive Plan. See Note 12 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 for additional information regarding the Company’s incentive plans.

During the three months ended March 31, 2025 and 2024, the Company issued no shares of common stock related to the equity incentive plans.

The Company had no stock options outstanding as of March 31, 2025.

The Company recognized share-based compensation expense of $1.1 million in the three months ended March 31, 2025 and $0.7 million in the same period in 2024.