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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule Of Share Based Compensation Shares Authorized Under Stock Plans Issued And Avaliability Table Text Block | The following table summarizes the number of shares of common stock authorized for issuance under the 2019 Plan, the number of stock-based awards granted (net of expired or cancelled awards) under the 2019 Plan, and the number of shares of common stock available for the grant of stock-based awards under the 2019 Plan:
Common stock authorized(1) | 19,000
Stock-based awards, including restricted stock and stock options granted, net of expired or cancelled awards | (10,455)
Common stock available for grant of stock-based awards as of March 31, 2025 | 8,545
(1) On May 22, 2024, the stockholders of the Company approved amendments to the Steven Madden, Ltd. 2019 Plan to, among other things, increase the number of shares of Company common stock available for issuance under the 2019 Plan. As amended, the 2019 Plan provides that up to a total of 19,000 shares of the Company’s common stock may be issued thereunder.
Schedule of Intangible Assets, Future Amortization Expense | The estimated future amortization expense for intangibles as of March 31, 2025 was as follows:
2025 (remaining nine months) | $ | 2,810 |
2026 | 2,987 |
2027 | 2,740 |
2028 | 2,705 |
2029 | 2,612 |
Thereafter | 17,372 |
Total | $ | 31,226 |
Schedule of Goodwill | The following provides a rollforward of the carrying amount of goodwill by reporting unit for the period ended March 31, 2025:
|  | Wholesale Footwear |  | Wholesale Accessories/ Apparel |  | Direct-to-Consumer |  | Net Carrying Amount
Balance at January 1, 2025 |  | $ | 90,001 |  |  | $ | 75,583 |  |  | $ | 18,153 |  |  | $ | 183,737 |
Acquisitions(1)(2) |  | 279 |  |  | 175 |  |  | 3,060 |  |  | 3,514 |
Translation |  | 92 |  |  | — |  |  | 98 |  |  | 190 |
Balance at March 31, 2025 |  | $ | 90,372 |  |  | $ | 75,758 |  |  | $ | 21,311 |  |  | $ | 187,441 |
(1) During the first quarter of 2025, the Company completed the acquisition of the SM Distribution Malaysia Sdn. Bhd., which resulted in the recognition of goodwill of $1,829 allocated to the Direct-to-Consumer segment. Refer to Note 3 – Joint Ventures and Acquisitions for further information. (2) During the first quarter of 2025, the Company completed the acquisition of the SM Fashion Australia Pty Ltd., which resulted in the recognition of goodwill of $1,393 allocated to the Direct-to-Consumer and Wholesale Footwear segments. Refer to Note 3 – Joint Ventures and Acquisitions for further information.
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | Total equity-based compensation for the three months ended March 31, 2025 and 2024 is as follows:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Restricted stock |  | $ | 5,693 |  |  | $ | 5,192 |
Stock options |  | 658 |  |  | 546 |
Performance-based awards |  | 804 |  |  | — |
Total |  | $ | 7,155 |  |  | $ | 5,738 |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | Cash proceeds and intrinsic values related to total stock options exercised during the three months ended March 31, 2025 and 2024 are as follows:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Proceeds from stock options exercised |  | $ | — |  |  | $ | 222 |
Intrinsic value of stock options exercised |  | $ | — |  |  | $ | 142 |
Activity relating to stock options granted under the Company’s plans during the three months ended March 31, 2025 was as follows:
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2025 |  | 1,268 |  | $ | 36.82 |  |  |  |  |
Granted |  | 9 |  | 42.52 |  |  |  |  |
Outstanding at March 31, 2025 |  | 1,277 |  | $ | 36.86 |  |  | 2.5 years |  | $ | — |
Exercisable at March 31, 2025 |  | 1,178 |  | $ | 36.50 |  |  | 2.3 years |  | $ | — |
Activity relating to stock options granted under the Company’s plans during the three months ended March 31, 2024 was as follows:
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2024 |  | 1,119 |  | $ | 35.62 |  |  |  |  |
Granted |  | 8 |  | 42.00 |  |  |  |  |
Exercised |  | (9) |  | 26.10 |  |  |  |  |
Outstanding at March 31, 2024 |  | 1,118 |  | $ | 35.73 |  |  | 3.0 years |  | $ | 7,776 |
Exercisable at March 31, 2024 |  | 1,000 |  | $ | 35.75 |  |  | 2.8 years |  | $ | 6,943 |
The following table summarizes restricted stock activity during the three months ended March 31, 2025 and 2024:
|  | 2025 |  | 2024
|  | Number of Shares |  | Weighted Average Fair Value at Grant Date |  | Number of Shares |  | Weighted Average Fair Value at Grant Date
Outstanding at January 1, |  | 1,543 |  | $ | 38.89 |  |  | 1,278 |  | $ | 35.44 |
Granted |  | 622 |  | 34.69 |  |  | 534 |  | 42.14 |
Vested |  | (419) |  | 39.28 |  |  | (237) |  | 34.90 |
Forfeited |  | (3) |  | 42.30 |  |  | (18) |  | 36.76 |
Outstanding at March 31, |  | 1,743 |  | $ | 37.29 |  |  | 1,557 |  | $ | 37.78 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The following weighted average assumptions were used for stock options granted during the three months ended March 31, 2025 and 2024:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Volatility |  | 33.6% |  | 47.4%
Risk free interest rate |  | 4.3% |  | 4.0%
Expected life in years |  | 4.0 |  | 4.0
Dividend yield |  | 2.0% |  | 2.0%
Weighted average fair value |  | $11.65 |  | $15.69

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