SHARE-BASED COMPENSATION

3 Months Ended

Feb. 29, 2024

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION:

The Company recognizes share-based compensation expense for all share-based awards made to employees and directors, including employee stock options, restricted stock awards, restricted stock units, and performance-based restricted stock units based on estimated fair values.

In February 2024, the Company granted 96 restricted stock units and 115 performance-based restricted stock units under the Concentrix Stock Incentive Plan, which included annual awards to the Company’s senior executive team. The restricted stock units had a weighted average grant date fair value of $89.28 per share and vest over a service period of three years. The performance-based restricted stock units will vest, if at all, upon the achievement of certain financial targets during the three-year period ending November 30, 2026. The performance-based restricted stock units had a grant date weighted average fair value of $85.71 per share.

The Company recorded share-based compensation expense in the consolidated statements of operations for the three months ended February 29, 2024 and February 28, 2023 as follows:


	Three Months Ended
	February 29, 2024		February 28, 2023
Total share-based compensation	$	21,646	$	16,754
Tax benefit recorded in the provision for income taxes	(5,411)		(4,188)
Effect on net income	$	16,235	$	12,566

Share-based compensation expense is included in selling, general and administrative expenses in the consolidated statements of operations.