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Stock-Based Compensation Plans
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Stock-Based Compensation Plans
In May 2025, our shareholders approved the Standard Motor Products, Inc. 2025 Omnibus Incentive Plan (the “Plan”) at the Annual Meeting of Shareholders. The Plan was previously approved by the Board of Directors of the Company.
The Plan became effective upon shareholder approval in May 2025, and will terminate in May 2035, unless terminated sooner as provided for within the Plan. The Plan permits the grant of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, cash-based awards, and other stock-based awards. The maximum number of shares that may be issued under the Plan is 1,050,000, subject to adjustment as provided under the Plan.
Our restricted and performance-based share activity was as follows for the nine months ended September 30, 2025 and 2024:
SharesWeighted Average Grant Date Fair Value Per Share
Balance at December 31, 2024929,024$26.82 
Granted25,380 24.97 
Vested(52,666)26.73 
Forfeited(10,252)26.71 
Balance at September 30, 2025891,486$26.82 
We recorded compensation expense related to restricted shares and performance-based shares of $5.5 million ($4.0 million, net of tax) and $4.1 million ($3.1 million, net of tax) for the nine months ended September 30, 2025 and 2024, respectively, primarily in selling, general and administrative expenses within our consolidated statements of operations. The unrecognized compensation expense related to our restricted and performance-based shares was $9.8 million at September 30, 2025, and is expected to be recognized as they vest over a weighted average period of 2.9 years and 7 months for employees and directors, respectively.