| 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 nine months ended September 30, 2020:
|
|
|
Number of Awards
|
|
|
Weighted-Average Exercise Price Per Award
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|
|
Weighted-Average Remaining Contractual Term
|
|
Aggregate Intrinsic Value(1)
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|
|
|
|
(in thousands)
|
|
|
|
|
|
|
|
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(in millions)
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|
|
Outstanding as of December 31, 2019(2)(3)
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|
|
7,001
|
|
|
$
|
27.85
|
|
|
5.4 years
|
|
$
|
138.7
|
|
|
Granted
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|
|
—
|
|
|
$
|
—
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|
|
|
|
|
|
|
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Exercised(4)
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|
|
(2,914
|
)
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|
$
|
28.46
|
|
|
|
|
|
|
|
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Forfeited
|
|
|
(7
|
)
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|
$
|
29.03
|
|
|
|
|
|
|
|
|
Outstanding as of September 30, 2020(2)(3)
|
|
|
4,080
|
|
|
$
|
27.41
|
|
|
4.7 years
|
|
$
|
78.5
|
|
|
Exercisable as of September 30, 2020(5)
|
|
|
4,074
|
|
|
$
|
27.41
|
|
|
4.7 years
|
|
$
|
78.4
|
|
|
Vested and expected to vest as of September 30, 2020
|
|
|
4,080
|
|
|
$
|
27.41
|
|
|
4.7 years
|
|
$
|
78.5
|
|
|
(1)
|
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 September 30, 2020 and December 31, 2019.
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(3)
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Includes 1.1 million and 2.9 million performance condition SARs as of September 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 1.8 million performance condition SARs.
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(5)
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Includes less than 0.1 million market condition and 1.1 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 nine months ended September 30, 2020:
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|
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Number of Shares
|
|
|
Weighted-Average Grant Date Fair Value Per Share
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
|
Outstanding and nonvested as of December 31, 2019(1)
|
|
|
1,833
|
|
|
$
|
49.49
|
|
|
Granted(2)
|
|
|
1,975
|
|
|
$
|
39.63
|
|
|
Vested
|
|
|
(321
|
)
|
|
$
|
49.32
|
|
|
Forfeited
|
|
|
(115
|
)
|
|
$
|
43.94
|
|
|
Outstanding and nonvested as of September 30, 2020(1)
|
|
|
3,372
|
|
|
$
|
43.92
|
|
|
Expected to vest as of September 30, 2020(3)
|
|
|
3,094
|
|
|
$
|
43.61
|
|
|
(1)
|
Includes 980,338 and 475,430 performance-based stock unit awards as of September 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)
|
Includes 773,968 performance-based stock unit awards.
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