Treasury Stock and Share Based Awards (Tables)

3 Months Ended

Mar. 31, 2024

Summary of Treasury Stock Activity

Below is a summary of Holdings’ treasury stock activity for the three months ended March 31, 2024:

	Number of
	Treasury
	Shares		Cost
Balance at January 1, 2024		6.00	$	98.3
Restricted stock withholdings (1)		0.25		4.2
Restricted stock forfeitures (2)		0.02		—
Balance at March 31, 2024		6.27	$	102.5

(1)Holdings withheld shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and performance stock units. Holdings determined the number of shares to be withheld based upon market values of the common stock of Holdings on the vesting dates, which ranged from $13.93 to $17.97 per share.

(2)Holdings repurchased forfeited restricted shares at a cost of $0.001 per share in accordance with its 2017 Omnibus Plan.

Summary of Restricted Stock Activity

Below is a summary of restricted stock activity for the three months ended March 31, 2024:

	Shares of			Weighted Average
	Restricted			Grant Date
	Stock			Fair Value
Outstanding at January 1, 2024		2.35		$	15.67
Granted		0.90			16.43
Vested		(0.77	)		15.89
Forfeited		(0.02	)		15.30
Outstanding and unvested at March 31, 2024		2.46			15.88

Performance metrics and measurement period for these performance awards

Below is a summary of the performance metrics and measurement period for these performance awards:

Stock units that vest if performance metrics meet the target level	0.57 PSUs
Stock units that vest if performance metrics meet the threshold level (50% of target)	0.28 PSUs
Stock units that vest if performance metrics meet the maximum level (200% of target)	1.15 PSUs
Performance Measurement Period	Three years with additional service requirement to the third anniversary of the date of the grant
Most likely performance metrics outcome estimated to be achieved at the time performance stock units were issued	Target
Assumed forfeiture rate for performance stock unit awards	5%

CUSA

Summary of Restricted Stock and Restricted Stock Unit Award Activity

Below is a summary of restricted stock award activity recorded for the periods indicated.

	Three Months Ended March 31,
	2024		2023
Compensation expense recognized during the period:
CUSA employees	$	3.8	$	3.6
Holdings directors		0.4		0.3
Total recognized by Holdings	$	4.2	$	3.9
Fair value of restricted stock that vested during the period:
CUSA employees	$	12.5	$	6.9
Holdings directors		—		—
Holdings total	$	12.5	$	6.9
Income tax benefit related to vested restricted stock:
CUSA employees	$	2.2	$	0.8
Holdings directors		—		—
Holdings total income tax benefit	$	2.2	$	0.8

Restricted Stock (Member)

Summary of Restricted Stock and Restricted Stock Unit Award Activity

As of March 31, 2024, the estimated remaining unrecognized compensation expense related to unvested restricted stock awards was as follows:

	Estimated
	Remaining
	Expense
CUSA employees (1)	$	27.2
Holdings directors		0.3
Total remaining - Holdings (1)	$	27.5

(1)The weighted average period over which this remaining compensation expense will be recognized by both Holdings and CUSA is approximately 1.9 years.

Performance Shares [Member]

Summary of Restricted Stock and Restricted Stock Unit Award Activity

Below is a summary of performance stock unit activity for the periods presented:

	Three Months Ended March 31,
	2024		2023
Number of performance stock units that vested during the period		0.1		0.1
Fair value of performance stock units that vested during the period	$	2.1	$	1.2
Accumulated dividends paid upon vesting of performance stock units	$	0.1	$	0.2
Compensation expense recognized during the period	$	2.2	$	1.8
Income tax benefit related to performance stock units	$	0.1	$	—