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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
Note 14—Stock-Based Compensation
Globe Life's stock-based compensation consists of stock options, restricted stock, restricted stock units, and performance shares. Certain employees and members of the board of directors (directors) have been granted fixed equity options to buy shares of Globe Life Inc. stock at the market value of the stock on the date of grant, under the provisions of the Globe Life stock option plans. The options are exercisable during the period commencing from the date they vest until expiring according to the terms of the grant. Options generally expire the earlier of employee termination or option contract term, which are either seven-year or ten-year terms. However, depending on the circumstances of termination, options may be exercised for a period of time following termination of employment or upon death or disability. Options generally vest in accordance with the following schedule:
Shares vested by period
Contract Period6 MonthsYear 1Year 2Year 3
Directors
7 years100%—%—%—%
Employees
7 years—%—%50%50%

All employee options vest immediately upon retirement on or after the attainment of age 65, upon death, or disability. Globe Life generally issues shares for the exercise of stock options from treasury stock. The Company generally uses the proceeds from option exercises to buy shares of Globe Life common stock in the open market to reduce the dilution from option exercises.
A summary of stock compensation activity for each of the three years ended December 31, 2025 is presented below:
202520242023
Stock-based compensation expense recognized(1)
$53,355 $40,118 $30,736 
Tax benefit recognized10,829 7,085 11,178 
(1)No stock-based compensation expense was capitalized in any period in accordance with applicable GAAP.

Additional stock compensation information is as follows at December 31:
20252024
Unrecognized compensation(1)
$49,461 $46,956 
Weighted average period of expected recognition (in years)(1)
0.640.53
(1)Includes stock options, restricted stock units and performance shares.

No equity awards were cash settled during the three years ended December 31, 2025.
Options: The following table summarizes information about stock options outstanding at December 31, 2025.
 Options OutstandingOptions Exercisable
Range of
Exercise Prices		Number
Outstanding		Weighted-
Average
Remaining
Contractual
Life (Years)		Weighted-
Average
Exercise
Price		Number
Exercisable		Weighted-
Average
Exercise
Price
$50.64 - $98.32
1,283,918 1.89$92.51 1,283,918 $92.51 
100.74
745,000 1.15100.74 745,000 100.74 
103.23
935,490 3.14103.23 935,490 103.23 
105.56 - 128.40
1,339,536 4.97124.90 266,584 118.92 
$50.64 - $128.40
4,303,944 2.99$106.34 3,230,992 $99.69 
An analysis of option activity for each of the three years ended December 31, 2025, is as follows:
202520242023
OptionsWeighted-Average
Exercise Price		OptionsWeighted-Average
Exercise Price		OptionsWeighted-Average
Exercise Price
Outstanding—beginning of year
5,825,957 $99.74 5,940,320 $96.19 6,962,374 $91.73 
Granted:
7-year term
349,342 127.43 520,810 128.32 497,060 120.49 
Exercised(1,842,860)89.23 (584,993)88.52 (1,375,313)82.95 
Expired and forfeited(28,495)120.48 (50,180)106.62 (143,801)90.92 
Outstanding—end of year
4,303,944 $106.34 5,825,957 $99.74 5,940,320 $96.19 
Exercisable at end of year
3,230,992 $99.69 4,376,436 $93.73 4,003,028 $91.23 

Additional information about Globe Life's stock option activity as of December 31, 2025 and 2024 is as follows:
20252024
Outstanding options:
Weighted-average remaining contractual term (in years)2.993.15
Aggregate intrinsic value$144,251 $81,703 
Exercisable options:
Weighted-average remaining contractual term (in years)2.242.48
Aggregate intrinsic value$129,787 $77,946 

Selected stock option activity for the three years ended December 31, 2025, is presented below:
202520242023
Weighted-average grant-date fair value of options granted
(per share)		$39.92 $33.80 $32.25 
Intrinsic value of options exercised73,970 17,127 49,163 
Cash received from options exercised164,448 51,786 114,080 
Actual tax benefit received8,101 2,489 9,379 

Additional information concerning Globe Life's unvested options is as follows at December 31:
20252024
Number of shares outstanding1,072,952 1,449,521 
Weighted-average exercise price (per share)$126.38 $117.88 
Weighted-average remaining contractual term (in years)5.255.19
Aggregate intrinsic value$14,464 $3,757 

Globe Life expects that substantially all unvested options will vest.
Restricted Stock: Restricted stock grants consist of time-vested grants, restricted stock units, and performance shares. Time-vested restricted stock is available to directors and vests over six months. The directors' restricted stock units vest over six months and are converted to shares upon their retirement from the Board. Employees' restricted stock units vest and become non-forfeitable on the vesting date (generally three years from the grant date) or upon meeting certain retirement criteria, or in the event of death or disability. Director restricted stock and restricted stock units are generally granted on the first business day of the calendar year. Performance shares are
granted to a limited number of senior executives. Performance shares have a three-year performance period and are not settled in shares until the certification of the achievement of the performance objectives for three-year performance period. While the grant specifies a stated target number of shares, the determination of the actual settlement in shares will be based on the achievement of certain performance objectives of Globe Life over the three-year performance period. Certain executive restricted stock and performance share grants contain terms related to age that could accelerate vesting.

Following are the restricted stock units outstanding for each of the three years ended December 31, 2025:
Year of grantsOutstanding as of year end
2023163,108 
2024219,864 
2025(1)
312,663 
(1)Includes dividend equivalent units.

Below is the final determination of the performance share grants in 2021 to 2023:
Year of grantsFinal settlement of sharesFinal settlement date
2021143,211 February 28, 2024
2022152,680 February 26, 2025
2023149,755 February 25, 2026

For the 2024 and 2025 performance share grants, actual shares that could be distributed range from 0 to 145 thousand for the 2024 grants and 0 to 297 thousand shares for the 2025 grants.
A summary of restricted stock grants for each of the years in the three-year period ended December 31, 2025, is presented in the table below:
2025(1)
20242023
Directors restricted stock:
Shares6,530 7,375 7,110 
Price per share$115.20 $122.06 $119.59 
Aggregate value$752 $900 $850 
Percent vested100%100%100%
Directors restricted stock units (including dividend equivalents):
Shares9,582 4,854 9,479 
Price per share$114.84 $120.16 $117.73 
Aggregate value$1,100 $583 $1,116 
Percent vested100%100%100%
Employees restricted stock units:
Shares106,089 101,011 96,975 
Price per share$127.43 $127.29 $120.18 
Aggregate value$13,519 $12,858 $11,654 
Percent vested—%—%—%
Performance shares:
Target shares148,688 96,800 81,300 
Target price per share$127.44 $128.40 $120.49 
Aggregate value$18,948 $12,429 $9,796 
Percent vested—%—%—%
(1)Includes dividend equivalent units.

Time-vested restricted stockholders are entitled to dividend payments on the unvested stock. Director restricted stock unit holders are entitled to dividend equivalents. These equivalents are granted in the form of additional restricted stock units and vest immediately upon grant. Dividend equivalents are applicable only to directors' restricted stock units and beginning in 2025 employee performance shares and restricted stock unit awards. Prior to 2025, the performance awards and restricted stock units held by employees were not entitled to dividend equivalents and not entitled to dividend payments until the shares vest and are settled.
An analysis of nonvested restricted stock is as follows:
Executive
Performance
Shares		Directors
Restricted
Stock		Directors
Restricted
Stock
Units
Employees
Restricted
Stock
Units
Total
2023:
Balance at December 31, 2022398,535 — — — 398,535 
Grants81,300 7,110 9,479 96,975 194,864 
Additional performance shares(1)
(28,857)— — — (28,857)
Restriction lapses(84,298)(7,110)(9,479)— (100,887)
Forfeitures(12,600)— — (4,410)(17,010)
Balance at December 31, 2023354,080 — — 92,565 446,645 
2024:
Grants96,800 7,375 4,854 101,011 210,040 
Additional performance shares(1)
84,712 — — — 84,712 
Restriction lapses(143,211)(7,375)(4,854)(437)(155,877)
Forfeitures(6,000)— — (10,008)(16,008)
Balance at December 31, 2024386,381 — — 183,131 569,512 
2025:
Grants148,688 6,530 9,582 106,089 270,889 
Additional performance shares(1)
83,626 — — — 83,626 
Restriction lapses(152,680)(6,530)(9,582)(2,473)(171,265)
Forfeitures— — — (20,399)(20,399)
Balance at December 31, 2025466,015 — — 266,348 732,363 
(1)Estimated additional (reduced) share grants expected due to achievement of performance criteria.

An analysis of the weighted-average grant-date fair values per share of non-vested restricted stock is as follows for the year 2025:
Executive Performance SharesDirectors Restricted StockDirectors Restricted Stock Units
Employees
Restricted
Stock
Units
Grant-date fair value per share at January 1, 2025
$115.78 $— $— $124.02 
Grants127.44 115.20 114.34 127.18 
Estimated additional performance shares126.75 — — — 
Restriction lapses(103.23)(115.20)(114.34)(119.99)
Forfeitures—— — (125.89)
Grant-date fair value per share at December 31, 2025
125.58 — — 125.17