
	Share-Based Compensation						Unrecognized Compensation Cost as of December 31, 2024

	2024		2023		2022
Awards issued pursuant to LTIP:
Stock option awards (a)	$	997	$	(3,850)	$	86,307	$	2,035
Performance stock units (a)	(2,053)		(12,757)		10,220		2,636
Restricted share units	47,222		33,809		63,458		41,870
Cash denominated performance awards	16,426		7,674		—		64,656
Other	4,570		23,050		—		611
	$	67,162	$	47,926	$	159,985	$	111,808

(a)The benefit for the year ended December 31, 2024 reflects credits due to forfeitures. The benefit for the year ended December 31, 2023 includes credits due to the modification of awards to certain former executive officers and other forfeitures.

Pursuant to the Altice USA 2017 Long Term Incentive Plan, as amended (the "2017 LTIP"), we may grant awards of options, restricted shares, restricted share units, stock appreciation rights, performance stock, performance stock units and other awards. The maximum aggregate number of shares that may be issued for all purposes under the Plan is 89,879,291. Awards may be granted to our officers, employees and consultants or any of our affiliates. The 2017 LTIP is administered by Altice USA's Board of Directors (the "Board"), subject to the provision of the stockholders' agreement. The Board has delegated its authority to our Compensation Committee. The Compensation Committee has the full power and authority to, among other things, select eligible participants, to grant awards in accordance with the 2017 LTIP, to determine the number of shares subject to each award or the cash amount payable in connection with an award and determine the terms and conditions of each award.

Options outstanding under the 2017 LTIP Plan either (i) cliff vest on the third anniversary of the date of grant, (ii) vest over 3 years in annual increments of 33-1/3%, or (iii) vest over 4 years, where 50% vest on the second anniversary, 25% on the third anniversary and 25% on the fourth anniversary of the date of grant. The option awards generally are subject to continued employment with the Company, and expire 10 years from the date of grant. Performance based option awards vest upon achievement of performance criteria.


	Shares Under Option	Weighted Average Exercise Price Per Share			Weighted Average Remaining Contractual Term (in years)
	Time Vesting						Aggregate Intrinsic Value (a)















Balance at December 31, 2021	50,998,816		$	22.51		8.29	$	6,801
Granted	7,888,472		9.30

Forfeited and Cancelled	(7,811,613)		23.84
Balance at December 31, 2022	51,075,675		$	20.27		7.73	$	184
Granted	640		4.69
Forfeited	(3,525,176)		21.94
Exchanged and Cancelled (b)	(24,015,508)		20.72
Balance at December 31, 2023	23,535,631		$	19.55		5.98	$	—

Forfeited and Cancelled	(6,293,905)		22.69
Balance at December 31, 2024	17,241,726		$	18.40		5.72	$	—
Options exercisable at December 31, 2024	15,406,617		$	19.89		5.47	$	—

We calculate the fair value of each option award on the date of grant using the Black-Scholes valuation model. Our computation of expected life was determined based on the simplified method (the average of the vesting period and option term) due to our lack of recent historical data for similar awards. The interest rate for periods within the contractual life of the stock option was based on interest yields for U.S. Treasury instruments in effect at the time of grant. Our computation of expected volatility was based on historical volatility of the Altice USA common stock and the expected volatility of comparable publicly-traded companies who granted options that had similar expected lives.

The weighted-average fair values of stock option awards granted during the years ended December 31, 2023 and 2022 were $2.42 and $3.76, respectively. The following weighted-average assumptions were used to calculate these fair values:

In January 2023, we commenced a stock option exchange program (the "Exchange Offer") pursuant to which eligible employees were provided the opportunity to exchange eligible stock options for a number of restricted stock units (“RSU”) and deferred cash-denominated awards (“DCA”) at the exchange ratio of one RSU and $10 of DCAs for every seven eligible options tendered. In connection with the Exchange Offer, we canceled 24,015,508 options and granted 3,430,433 restricted stock units and $34,309 of DCAs awards. The exchange of these options was accounted for as a modification of share-based compensation awards. Accordingly, we will recognize the unamortized compensation cost related to the cancelled options of approximately $33,475, as well as the incremental compensation cost associated with the replacement awards of $34,000 over their two year vesting term.

Certain of our employees were granted performance stock units ("PSUs"). Each PSU gives the employee the right to receive one share of Altice USA class A common stock, upon achievement of a specified stock price hurdle. The PSUs will be forfeited if the applicable performance measure is not achieved prior to January 29, 2026 or if the employee does not continue to provide services to the Company through the achievement date of the applicable performance measure.


			Number of Units



Balance at December 31, 2021			6,361,894
Forfeited			(1,182,535)
Balance at December 31, 2022			5,179,359
Forfeited			(1,411,606)
Balance at December 31, 2023			3,767,753
Forfeited			(1,044,201)
Balance at December 31, 2024			2,723,552

The PSUs have a weighted average grant date fair value of $6.00 per unit as of December 31, 2024. The total unrecognized compensation cost related to outstanding PSUs is expected to be recognized over a weighted-average period of approximately 1.1 years.

We granted restricted stock units ("RSUs") to certain employees pursuant to the 2017 LTIP. These awards vest either over three years in 33-1/3% annual increments or 4 years, where 50% vest on the second anniversary, 25% on the third anniversary and 25% on the fourth anniversary of the date of grant.


	Number of Units	Weighted Average Grant Price



Balance at December 31, 2021	6,617,837	$	16.23
Granted	3,597,775	8.00
Vested	(2,141,449)	15.99
Forfeited	(578,775)	15.48
Balance at December 31, 2022	7,495,388	$	12.41
Granted (including 3,430,433 in connection with Exchange Offer)	19,975,943	4.15
Vested	(1,913,348)	10.20
Forfeited	(3,064,095)	9.80
Balance at December 31, 2023	22,493,888	$	4.93
Granted	21,314,660	2.51
Vested	(8,427,473)	5.81
Forfeited	(5,234,572)	3.87
Balance at December 31, 2024	30,146,503	$	3.12


			Number of Units
Balance at December 31, 2022			—
Granted			52,017,500
Forfeited			(3,525,000)
Balance at December 31, 2023			48,492,500
Granted			56,142,500
Forfeited			(12,288,750)
Balance at December 31, 2024			92,346,250

The cash denominated performance awards cliff vest in three years. The payout of these awards can range from 0% to 200% of the target value based on our achievement of certain revenue and Adjusted EBITDA targets during a three year performance period. These awards will be settled in shares of our Class A common stock, or cash, at our option.

Lightpath Management Incentive Aggregator LLC ("LMIA") has a Management Incentive Plan (the "Lightpath Plan") for the benefit of employees of Lightpath. The Lightpath Plan issues equity interests in LMIA which holds an equivalent number of equity interests in Lightpath Holdings LLC, the parent of Lightpath. These equity interests allow employees to participate in the long-term growth of Lightpath. The Lightpath Plan provides for an aggregate of 650,000 Class A-1 management incentive units and 350,000 Class A-2 management incentive units for issuance.

As of December 31, 2024, 577,334 Class A-1 management incentive units and 280,905 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Lightpath Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $31,504 and will be expensed in the period in which a partial exit or a liquidity event is consummated.