SHARE BASED COMPENSATION

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

The following is a summary of share based compensation expense included in net loss from continuing operations for the three month periods ended December 31, 2023 and January 1, 2023 for SBH and SB/RH, respectively.



(in millions)	December 31, 2023		January 1, 2023
SBH	$	3.9	$	3.3
SB/RH	3.8		3.1

The Company recognizes share based compensation expense from the issuance of Restricted Stock Units (“RSUs”), primarily under its Long-Term Incentive Plan ("LTIP"). RSUs granted under the LTIP include time-based grants and performance-based grants. The Company regularly issues annual RSU grants under its LTIP during the first quarter of the fiscal year. Compensation cost is based on the fair value of the awards, as determined by the market price of the Company’s shares of common stock on the designated grant date and recognized on a straight-line basis over the requisite service period of the awards. Time-based RSU awards provide for either three year cliff vesting or graded vesting depending upon the vesting conditions and forfeitures provided by the grant. Performance-based RSU awards are dependent upon achieving specified financial metrics (adjusted EBITDA, return on adjusted equity, and/or adjusted free cash flow) by the end of the three year vesting period. The Company assesses the probability of achievement of the performance conditions and recognizes expense for the awards based on the probable achievement of such metrics. Additionally, the Company regularly issues individual RSU awards under its equity plan to its Board members and individual employees for recognition, incentive, or retention purposes, when needed, which are primarily conditional upon time-based service conditions, valued based on the fair value of the awards as determined by the market price of the Company's share of common stock on the designated grant price date and recognized as a component of share-based compensation on a straight-line basis over the requisite service period of the award. RSUs are subject to forfeiture if employment terminates prior to vesting with forfeitures recognized as they occur. RSUs have dividend equivalents credited to the recipient and are paid only to the extent the RSU vests and the related stock is issued. Shares issued upon exercise of RSUs are sourced from treasury shares when available.

The following is a summary of RSU grants issued during the three month period ended December 31, 2023:


	SBH					SB/RH
(in millions, except per share data)	Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date		Units	Weighted Average Grant Date Fair Value		Fair Value at Grant Date
Time-based grants
Vesting in less than 12 months	0.05	$	66.23	$	3.5	0.03	$	66.23	$	2.1
Vesting in more than 12 months	0.15	66.23		9.5		0.15	66.23		9.5
Total time-based grants	0.20	66.23		13.0		0.18	66.23		11.6
Performance-based grants	0.23	66.23		15.4		0.23	66.23		15.4
Total grants	0.43	66.23		$	28.4	0.41	66.23		$	27.0