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EQUITY-BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
EQUITY-BASED COMPENSATION | 9. EQUITY-BASED COMPENSATION We have a FTAI Aviation Ltd. 2025 Omnibus Incentive Plan (the “Incentive Plan”) which provides for the ability to award equity compensation awards in the form of stock options to eligible employees, consultants, directors, and other individuals who provide services to us, each as determined by the Compensation Committee of the Board of Directors. As of June 30, 2025, the Incentive Plan provides for the issuance of up to 5.7 million shares. Equity-based compensation expense is reported within cost of sales and operating expenses. Unvested equity-based awards are subject to forfeiture. The Company’s accounting policy is to record the impact of forfeitures when they occur. Equity-based compensation for each type of award was as follows (unaudited):
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  | Remaining Expense To Be Recognized, If All Vesting Conditions Are Met | Weighted Average Remaining Contractual Term (in years)
| 2025 |  | 2024 |  |  |  |  |  | 2025 |  | 2024 |
Stock Options | $ | 127 |  |  | $ | 42 |  |  |  |  |  |  | $ | 254 |  |  | $ | 42 |  |  | $ | 1,524 |  | 8.2 years
Performance shares | 3,501 |  |  | — |  |  |  |  |  |  | 6,763 |  |  | — |  |  | 43,762 |  | 3.3 years
Restricted Shares | 1,887 |  |  | 596 |  |  |  |  |  |  | 3,387 |  |  | 1,106 |  |  | 17,773 |  | 2.2 years
Total | $ | 5,515 |  |  | $ | 638 |  |  |  |  |  |  | $ | 10,404 |  |  | $ | 1,148 |  |  | $ | 63,059 |  |
Options In 2025, the Company did not issue any options to employees. During the six months ended June 30, 2024, the Former Manager transferred 37,343 of its options to certain of the Former Manager’s employees. Additionally, the Company granted options to select employees related to 60,000 ordinary shares at an exercise price of $79.13, which had a grant date fair value of $2.1 million. The assumptions used in valuing the options were: a 4.52% risk-free rate, a 1.50% dividend yield, a 43.00% volatility and a 6.8 year term. Performance Shares During the six months ended June 30, 2025, we issued performance shares to select officers and employees of the Company with a grant date fair value of $4.4 million, vesting over a 3 year performance period based on the achievement of relative total shareholder return (50%) and cumulative diluted EPS (50%). Restricted Shares During the six months ended June 30, 2025, we issued restricted shares to select officers and employees of the Company with a grant date fair value of $5.5 million, vesting over 3 years. Additionally, we issued restricted shares to the directors of the Company with a grant date fair value of $0.8 million. These awards vest on the earlier of (i) the one-year anniversary of the grant date (May 29, 2026) or (ii) the date of the Company’s next annual general meeting of shareholders occurring after the grant date. During the six months ended June 30, 2024, we issued restricted shares of the Company to select employees that had a grant date fair value of $5.7 million and vest over 4.0 years. These awards are subject to continued employment, and the compensation expense is recognized ratably over the vesting periods, with 50% of the units vesting on June 30, 2027 and the remaining units vesting on June 30, 2028. Additionally, we issued restricted shares of the Company to select officers of the Company that had a grant date fair value of $5.5 million and vest over 3.0 years. These awards are subject to continued employment, and the compensation expense is recognized ratably over the three-year vesting period. All awards are subject to continued employment, with compensation expense recognized ratably over the vesting periods. The fair values of the cumulative diluted EPS performance shares and restricted shares were based on the closing price of the Company’s ordinary shares on the respective grant dates, and the fair value of the total shareholder return performance shares was determined using the Monte Carlo simulation.

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