| Summary of Activity Under Share-Based Compensation Plans |
The following table summarizes the activity for stock appreciation rights, or SARs, under all share-based compensation plans for the six months ended June 30, 2020:
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Number of Awards
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Weighted-Average Exercise Price Per Award
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Weighted-Average Remaining Contractual Term
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Aggregate Intrinsic Value(1)
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(in thousands)
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|
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|
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(in millions)
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Outstanding as of December 31, 2019(2)(3)
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|
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7,001
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|
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$
|
27.85
|
|
|
5.4 years
|
|
$
|
138.7
|
|
|
Granted
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|
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—
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|
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$
|
—
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|
|
|
|
|
|
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Exercised
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|
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(1,228
|
)
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|
$
|
31.32
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|
|
|
|
|
|
|
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Forfeited
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|
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(7
|
)
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|
$
|
29.03
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|
|
|
|
|
|
|
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Outstanding as of June 30, 2020(2)(3)
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|
|
5,766
|
|
|
$
|
27.11
|
|
|
4.8 years
|
|
$
|
103.0
|
|
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Exercisable as of June 30, 2020(4)
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|
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5,753
|
|
|
$
|
27.10
|
|
|
4.8 years
|
|
$
|
102.9
|
|
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Vested and expected to vest as of June 30, 2020
|
|
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5,766
|
|
|
$
|
27.11
|
|
|
4.8 years
|
|
$
|
103.0
|
|
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(1)
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The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the SARs.
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(2)
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Includes less than 0.1 million market condition SARs as of both June 30, 2020 and December 31, 2019.
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(3)
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Includes 2.1 million and 2.9 million performance condition SARs as of June 30, 2020 and December 31, 2019, respectively, which represents the maximum amount that can vest.
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(4)
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Includes less than 0.1 million market condition and 2.1 million performance condition SARs.
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The following table summarizes the activities for stock units under all share-based compensation plans for the six months ended June 30, 2020:
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Number of Shares
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Weighted-Average Grant Date Fair Value Per Share
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|
|
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(in thousands)
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|
|
|
|
|
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Outstanding and nonvested as of December 31, 2019(1)
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|
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1,833
|
|
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$
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49.49
|
|
|
Granted(2)
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|
|
1,893
|
|
|
$
|
39.20
|
|
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Vested
|
|
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(317
|
)
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|
$
|
49.36
|
|
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Forfeited
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|
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(71
|
)
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|
$
|
44.58
|
|
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Outstanding and nonvested as of June 30, 2020(1)
|
|
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3,338
|
|
|
$
|
43.77
|
|
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Expected to vest as of June 30, 2020(3)
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|
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2,822
|
|
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$
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43.13
|
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(1)
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Includes 980,338 and 475,430 performance-based stock unit awards as of June 30, 2020 and December 31, 2019, respectively, which represents the maximum amount that can vest.
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(2)
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Includes 504,908 performance-based stock unit awards.
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(3)
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Includes 506,200 performance-based stock unit awards.
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