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Stock-Based Compensation | 9 Months Ended
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Sep. 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 Rule 303A.08 of the NYSE. As of September 30, 2025, we have authorized 7,063,627 shares available for grant. RSUs and PSUs are granted at the closing market price on the date of the grant. We generally utilize 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 September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation expense | 17 |  | 17 |  | 46 |  | 39
Tax benefit | 3 |  | 3 |  | 8 |  | 6
Restricted Stock We granted 5,199,148 shares of restricted stock, which vest over a one- to three-year period, with an average fair value of $11.57 per share on the date of grant, during the nine months ended September 30, 2025. The following table provides a summary of activity with regard to RSUs:
| Nine Months Ended September 30, 2025
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested at beginning of year | 7,621,331 |  | $ | 17.20 |
Granted | 5,199,148 |  | 11.57 |
Vested | (2,009,630) |  | 17.60 |
Forfeited | (2,222,194) |  | 15.36 |
Unvested at end of period | 8,588,655 |  | 14.17 |
As of September 30, 2025, unrecognized compensation cost relating to unvested restricted stock totaled $90 million. This amount will be recognized over the remaining weighted average life of 2.2 years. Stock Options The following table summarizes stock option activity for the period indicated:
| Nine Months ended September 30, 2025
| Number of Options |  | Weighted- Average Exercise Price per Share
Unvested at beginning of year | 12,083,000 |  |  | $ | 8.69 |
Granted | — |  |  | — |
Vested | (4,583,333) |  |  | 8.98 |
Forfeited | (1,000,000) |  |  | 9.21 |
Unvested at end of period | 6,499,667 |  |  | 8.41 |
Exercisable at end of period | 5,833,333 |  |  |
As of September 30, 2025, the remaining amount of unamortized compensation expense relating to stock options totaled $31 million. This amount will be recognized over the remaining weighted average life of 1.6 years.

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