Stock-Based Compensation

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

We issue stock-based compensation in the form of RSUs, PSUs, and stock options through the New York Community Bancorp, Inc. 2020 Omnibus Incentive Plan. Additionally, we have also granted one-time stock options as employment inducement awards to certain key executives in accordance with Section 303A.08 of the NYSE. As of June 30, 2025, we have authorized 6,626,001 shares available for grant. RSUs and PSUs are granted at the closing market price on the date of the grant. The Company generally utilizes the Black-Scholes option pricing model to measure the fair value of stock options at the grant date. Forfeitures of RSUs, PSUs, and stock options are accounted for as they occur.

The following table presents total stock-based compensation expense and the related tax benefit for the periods indicated:

	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Stock-based compensation expense	14	15	29	22
Tax benefit	3	2	5	4

Restricted Stock

The Company granted 4,806,308 shares of restricted stock, which vest over a one- to three-year period, with an average fair value of $11.62 per share on the date of grant, during the six months ended June 30, 2025.

The following table provides a summary of activity with regard to RSUs:

	Six Months Ended June 30, 2025
	Number of Shares	Weighted Average Grant Date Fair Value
Unvested at beginning of year	7,621,331	$	17.20
Granted	4,806,308	11.62
Vested	(1,570,992)	16.43
Forfeited	(1,348,871)	17.12
Unvested at end of period	9,507,776	14.52

As of June 30, 2025, unrecognized compensation cost relating to unvested restricted stock totaled $109 million. This amount will be recognized over the remaining weighted average life of 2.4 years.

Stock Options

The following table summarizes stock option activity for the period indicated:

	Six months ended June 30, 2025
	Number of Options	Weighted- Average Exercise Price per Share
Unvested at beginning of year	12,083,000	$	8.69
Granted	—	—
Vested	(3,166,667)	8.85
Forfeited	(1,000,000)	9.21
Unvested at end of period	7,916,333	8.56
Exercisable at end of period	4,416,667

As of June 30, 2025, the remaining amount of unamortized compensation expense relating to stock options totaled $36 million. This amount will be recognized over the remaining weighted average life of 1.8 years.