XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.25.3

Stock Plans | 9 Months Ended
--- | ---
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock Plans | Stock Plans The 2023 Management Equity Incentive Plan and its predecessor, the 2016 Management Equity Incentive Plan, provide for various forms of stock-based compensation for eligible employees through, in the case of the 2023 Management Equity Incentive Plan, May 2033, including stock options, restricted stock awards, restricted stock units and performance stock units. The 2024 Non-Employee Directors’ Equity Incentive Plan and its predecessor, the 2017 Non-Employee Directors’ Equity Incentive Plan, provide for grants of stock options and restricted stock to non-employee directors through, in the case of the 2024 Non-Employee Directors’ Equity Incentive Plan, May 2034. The 2014 MSA Employee Stock Purchase Plan (“ESPP”) permits eligible employees to purchase the Company's shares of common stock at a 15% discount from the fair market value stock price, semi-annually. The ESPP is considered a compensatory plan. The discount is recorded as a component of selling, general and administrative expense in the Company's unaudited Condensed Consolidated Statements of Income. Stock compensation expense, included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income, is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Stock compensation expense | $ | 3,351 |  |  | $ | 4,217 |  |  | $ | 11,350 |  |  | $ | 13,446 |
Income tax benefit | 827 |  |  | 1,033 |  |  | 2,803 |  |  | 3,294 |
Stock compensation expense, net of tax | $ | 2,524 |  |  | $ | 3,184 |  |  | $ | 8,547 |  |  | $ | 10,152 |
We have not capitalized any stock-based compensation expense. A summary of stock option activity for the nine months ended September 30, 2025, is as follows:
| Shares |  | Weighted Average Exercise Price
Outstanding at January 1, 2025 | 15,018 |  |  | $ | 45.10 |
Exercised | (11,473) |  |  | 44.50 |
Outstanding and exercisable at September 30, 2025 | 3,545 |  |  | $ | 47.04 |
Restricted stock awards and restricted stock units are valued at the market value of the stock on the grant date. A summary of restricted stock activity for the nine months ended September 30, 2025, is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2025 | 179,584 |  |  | $ | 150.39 |
Granted | 72,009 |  |  | 160.31 |
Vested | (64,349) |  |  | 139.49 |
Forfeited | (13,261) |  |  | 155.16 |
Unvested at September 30, 2025 | 173,983 |  |  | $ | 158.17 |
Performance stock units that have a market condition modifier are valued at an estimated fair value using a Monte Carlo model. The final number of shares to be issued for performance stock units granted in the first quarter of 2025 may range from 0% to 200% of the target award based on achieving the specified performance targets over the performance period and further range based upon the achieved market metric over the performance period. The following weighted average assumptions were used in estimating the fair value of the performance stock units granted in the first quarter of 2025:
Fair value per unit | $160.54 |  |  |
Risk-free interest rate | 4.28% |  |  |
Expected dividend yield | 1.14% |  |  |
Expected volatility | 25.3% |  |  |
MSA stock beta | 0.744 |  |  |
The risk-free interest rate is based on the U.S. Treasury Constant Maturity rates as of the grant date converted into an implied spot rate yield curve. Expected dividend yield is based on the most recent annualized dividend divided by the one-year average closing share price. Expected volatility is based on the three-year historical volatility preceding the grant date using daily stock prices. Expected life is based on historical stock option exercise data. A summary of performance stock unit activity for the nine months ended September 30, 2025, is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2025 | 161,996 |  |  | $ | 146.50 |
Granted | 63,964 |  |  | 161.96 |
Performance adjustments(a) | 64,457 |  |  | 143.49 |
Vested | (118,605) |  |  | 143.47 |
Forfeited | (19,990) |  |  | 156.59 |
Unvested at September 30, 2025 | 151,822 |  |  | $ | 152.77 |
(a)Performance adjustments relate primarily to the final number of shares issued for the 2022 performance unit awards which vested in the first quarter of 2025 at 220% of the target award based on both cumulative performance against EBITDA margin and revenue growth targets and MSA's total shareholder return during the three-year performance period.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration