Expected future pre-tax compensation expense, nonvested restricted shares

[Table of Contents](#iee2f14225b9a4b108d08cd0fe2886fa0_7)AMETEK, Inc.Notes to Consolidated Financial StatementsMarch 31, 2022(Unaudited)million non-vested stock options outstanding, which is expected to be recognized over a weighted average period of approximately two years.  
Restricted Stock The following is a summary of the Company’s non-vested restricted stock activity and related information:

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares |  | WeightedAverage Grant DateFair Value |
|  | (In thousands) |  |  |
| Non-vested restricted stock outstanding at December 31, 2021 | 413  |  |  | $ | 96.07  |  |
| Granted | 179  |  |  | 134.71  |  |
| Vested | (107) |  |  | 86.05  |  |
| Forfeited | (10) |  |  | 100.34  |  |
| Non-vested restricted stock outstanding at March 31, 2022 | 475  |  |  | $ | 112.85  |  |

The total fair value of restricted stock vested during the three months ended March 31, 2022 was $9.3 million. As of March 31, 2022, there was approximately $44.2 million of expected future pre-tax compensation expense related to the 0.5 million non-vested restricted shares outstanding, which is expected to be recognized over a weighted average period of approximately two years.Performance Restricted Stock UnitsIn March 2022, the Company granted performance restricted stock units ("PRSU") to officers and certain key management-level employees. The PRSUs vest over a period up to three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which the Company achieves certain financial and market performance targets measured over the period from January 1 of the year of grant to December 31 of the third year. Half of the PRSUs were valued in a manner similar to restricted stock as the financial targets are based on the Company’s operating results, which represents a performance condition. The grant date fair value of these PRSUs are recognized as compensation expense over the vesting period based on the probable number of awards to vest at each reporting date. The other half of the PRSUs were valued using a Monte Carlo model as the performance target is related to the Company’s total shareholder return compared to a group of peer companies, which represents a market condition. The Company recognizes the grant date fair value of these awards as compensation expense ratably over the vesting period.   
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