Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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			(10,970)
Common stock available for grant of stock-based awards as of June 30, 2025			8,030

(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.

Share-Based Payment Arrangement, Expensed and Capitalized, Amount

Total equity-based compensation for the three and six months ended June 30, 2025 and 2024 is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Restricted stock	$	5,793	$	5,573	$	11,486	$	10,765
Stock options	555		603		1,213		1,149
Performance-based awards	1,187		665		1,991		665
Total	$	7,535	$	6,841	$	14,690	$	12,579

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 and six months ended June 30, 2025 and 2024 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Proceeds from stock options exercised	$	—	$	527	$	—	$	749
Intrinsic value of stock options exercised	$	—	$	364	$	—	$	506

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following weighted average assumptions were used for stock options granted during the six months ended June 30, 2025 and 2024:

Six Months Ended June 30,

2025

2024

Volatility

33.6% to 38.3%

34.1% to 47.4%

Risk free interest rate

3.7% to 4.3%

4.0% to 4.6%

Expected life in years

3.0 to 4.0

Dividend yield

3.6%

2.0%

Weighted average fair value

$6.07

$13.22

Schedule of Stock Options Roll Forward

Activity relating to stock options granted under the Company’s plans during the six months ended June 30, 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	250	25.08


Expired	(34)	36.10
Outstanding at June 30, 2025	1,484	$	34.86	2.9 years	$	45
Exercisable at June 30, 2025	1,208	$	36.76	2.2 years	$	—

Activity relating to stock options granted under the Company’s plans during the six months ended June 30, 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	233	41.32
Exercised	(46)	32.18

Expired	(2)	$	46.47
Outstanding at June 30, 2024	1,304	$	36.74	3.2 years	$	7,687
Exercisable at June 30, 2024	1,026	$	35.59	2.7 years	$	7,296

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes restricted stock activity during the six months ended June 30, 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	758	32.65		683	42.11
Vested	(499)	39.20		(312)	34.42
Forfeited	(45)	36.46		(20)	37.09
Outstanding at June 30,	1,757	$	36.17	1,629	$	38.39

STEVEN MADDEN, LTD. 10-Q