Sirius XM Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement, Expensed and Capitalized, Amount

Included in the accompanying audited consolidated statements of operations are the following amounts of share-based compensation expense:


	For the Years Ended December 31,
		2024		2023		2022
Cost of services:
Programming and content		$	36	$	34	$	34
Customer service and billing		5		5		6
Transmission		5		6		6
Sales and marketing		45		45		52
Product and technology		44		46		39
General and administrative		65		67		72
		$	200	$	203	$	209

Schedule of Stock Options Activity Under Share-based Payment Plans

The following table presents the number and weighted average exercise price ("WAEP") of options to purchase shares of our common stock granted to certain officers, employees and directors of Liberty Media, as well as the weighted average remaining life and aggregate intrinsic value of the options. The shares and WAEP have been adjusted for the exchange ratio of 0.8375 shares of Sirius XM Holdings per share of SplitCo. Refer to Note 1 for more information.


	Options (000's)	WAEP		Weighted average remaining life (years)	Aggregate intrinsic value
Outstanding at January 1, 2024	5	$	34.78

Exercised	(1)	$	30.98
Forfeited/Cancelled	—	$	—
Transfer to Sirius XM Holdings (1)	(4)	$	35.56
Outstanding at December 31, 2024	—

(1)As discussed in the paragraph above, outstanding stock options to purchase shares of SplitCo common stock were accelerated and became fully vested and exchanged into stock options to purchase shares of our common stock, adjusted based on the SplitCo Award Exchange Ratio.

The following table summarizes stock option activity under our share-based plans for the years ended December 31, 2024:


	Options	WAEP		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value








Outstanding as of January 1, 2024	12	$	56.02
Granted	3	$	41.95
Exercised	—	$	33.57
Forfeited, cancelled or expired	(1)	$	49.89
Transfer in from SplitCo (1)	4	$	35.56
Outstanding as of December 31, 2024	18	$	49.69	4.38	$	—
Exercisable as of December 31, 2024	14	$	50.60	3.44	$	—

(1)As discussed above, outstanding stock options to purchase shares of SplitCo common stock were accelerated and became fully vested and exchanged into stock options to purchase shares of our common stock adjusted based on the SplitCo Award Exchange Ratio under the Transitional Plan.

Schedule of Fair Value of Options Granted

The following table summarizes the weighted-average assumptions used to compute the fair value of options granted to employees, members of our board of directors and non-employees under the Sirius XM Awards:


	For the Years Ended December 31,
		2024	2023	2022
Risk-free interest rate		4.4%	4.0%	2.0%
Expected life of options — years		3.76	3.80	3.40
Expected stock price volatility		40%	32%	31%
Expected dividend yield		2.8%	2.0%	1.3%

Schedule of Restricted Stock Unit and Stock Award Activity

The following table summarizes the RSUs, including PRSUs, activity under our share-based plans for the years ended December 31, 2024:


	Shares	GDFV Per Share








Nonvested as of January 1, 2024	9	$	55.91
Granted	7	$	33.21
Vested	(3)	$	56.69
Forfeited	(1)	$	52.59
Nonvested as of December 31, 2024	12	$	42.33