Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Activity of Non-Vested Restricted Stock Awards

The following table summarizes activity of non-vested restricted stock awards for the year ended December 31, 2023: 

	Restricted Shares	Weighted- Average Grant- Date Fair Value
Non-vested at January 1, 2023	4,536,758		$	29.54
Granted1	876,296		34.20
Vested	(1,398,118)		29.49
Forfeited	(128,442)		29.66
Non-vested at December 31, 2023	3,886,494		$	30.60

1    During 2023, Federated Hermes awarded 86,000 shares of restricted Class B common stock under the UK Sub-Plan that generally vest over a five-year period. Federated Hermes awarded 375,796 shares of restricted Class B common stock in connection with a bonus program in which certain key employees received a portion of their bonus in the form of restricted stock under the Plan. This bonus restricted stock, which was granted on the bonus payment date and issued out of treasury, generally vests over a three-year period. In addition, Federated Hermes awarded 414,500 shares of restricted Class B common stock under this same Plan that generally vest over a ten-year period.