ESSENTIAL UTILITIES, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (continued) (In thousands of dollars, except per share amounts)
The following table summarizes information about the options outstanding and options exercisable as of December 31, 2025:
Options Outstanding
Options Exercisable
Weighted Average
Weighted Average Exercise Price
Weighted Average Exercise Price
Remaining Life (years)
Shares
Shares
Range of prices: $30.00 - 33.99 $34.00 - 34.99 $35.00 - 35.99 $36.00 and above
47,999 82,346 804,911 134,130
1.1$ 30.47 2.2 34.51 5.2 35.77 6.6 45.28 5.0$ 36.63
47,999 $
30.47 34.51 35.93 45.26 36.79
82,346 541,208 112,626
1,069,386
784,179 $
As of December 31, 2025, there was $810 of total unrecognized compensation costs related to nonvested stock options granted under the plans. The cost is expected to be recognized over a weighted average period of approximately 1.4 years. Restricted Stock – Restricted stock awards provide the grantee with the rights of a shareholder, including the right to receive dividends and to vote such shares, but not the right to sell or otherwise transfer the shares during the restriction period. Restricted stock awards result in compensation expense that is equal to the fair market value of the stock on the date of the grant and is amortized ratably over the restriction period. The Company expects forfeitures of restricted stock to be de minimis. The following table provides the compensation cost and income tax benefit for stock-based compensation related to restricted stock: Years ended December 31, 2025 2024 2023 Stock-based compensation within operations and maintenance expense $ 41 $ 53 $ 43 Income tax benefit $ 11 $ 15 $ 12
The following table summarizes restricted stock transactions for the year ended December 31, 2025:
Weighted Average Fair Value
Number of Shares
Nonvested shares at beginning of period
1,268
$
39.43
Granted Vested
-
-
(1,268)
39.43
Nonvested shares at end of period
-
$
-
70
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