SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION

NOTE L – SHARE-BASED COMPENSATION

Stock Awards

The Company had outstanding RSUs granted under the ArcBest Corporation Ownership Incentive Plan (the “Ownership Incentive Plan”) as of December 31, 2024 and 2023. The Ownership Incentive Plan provides for the granting of 4.9 million shares, which may be awarded as incentive and nonqualified stock options, stock appreciation rights, restricted stock, RSUs, or performance award units.

Restricted Stock Units

A summary of the Company’s RSU award program is presented below:

		Weighted-Average
		Grant Date
	Units	Fair Value
Outstanding – January 1, 2024	725,433	$	48.94
Granted	101,238	$	115.85
Vested	(571,050)	$	41.61
Forfeited(1)	(13,159)	$	92.70
Outstanding – December 31, 2024	242,462	$	91.75

(1) Forfeitures are recognized as they occur.

The Compensation Committee of the Company’s Board of Directors granted RSUs during the years ended December 31 as follows:

k

		Weighted-Average
		Grant Date
	Units	Fair Value
2024	101,238	$	115.85
2023	149,350	$	86.53
2022	164,739	$	78.57

The fair value of restricted stock awards that vested in 2024, 2023, and 2022 was $67.5 million, $34.2 million, and $48.1 million, respectively. Unrecognized compensation cost related to restricted stock awards outstanding as of December 31, 2024 was $13.0 million, which is expected to be recognized over a weighted-average period of approximately 1.6 years.