| 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 three months ended March 31, 2020:
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Number of Awards
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Weighted-Average Exercise Price Per Award
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|
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Weighted-Average Remaining Contractual Term
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Aggregate Intrinsic Value(1)
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|
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(in thousands)
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|
|
|
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|
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(in millions)
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|
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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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|
|
$
|
27.85
|
|
|
5.4 years
|
|
$
|
138.7
|
|
|
Granted
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|
|
—
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|
|
$
|
—
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|
|
|
|
|
|
|
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Exercised
|
|
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(105
|
)
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|
$
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27.15
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|
|
|
|
|
|
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Forfeited
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|
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(5
|
)
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|
$
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28.60
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|
|
|
|
|
|
|
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Outstanding as of March 31, 2020(2)(3)
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|
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6,891
|
|
|
$
|
27.86
|
|
|
5.1 years
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|
$
|
21.5
|
|
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Exercisable as of March 31, 2020(4)
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|
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6,876
|
|
|
$
|
27.85
|
|
|
5.1 years
|
|
$
|
21.5
|
|
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Vested and expected to vest as of March 31, 2020
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|
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6,891
|
|
|
$
|
27.86
|
|
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5.1 years
|
|
$
|
21.5
|
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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 March 31, 2020 and December 31, 2019.
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(3)
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Includes 2.9 million performance condition SARs as of both March 31, 2020 and December 31, 2019, 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 2.9 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 three months ended March 31, 2020:
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Number of Shares
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Weighted-Average Grant Date Fair Value Per Share
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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
|
|
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Granted
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|
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1,218
|
|
|
$
|
37.65
|
|
|
Vested
|
|
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(274
|
)
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|
$
|
49.21
|
|
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Forfeited
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|
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(25
|
)
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|
$
|
46.47
|
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Outstanding and nonvested as of March 31, 2020(1)
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|
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2,752
|
|
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$
|
44.30
|
|
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Expected to vest as of March 31, 2020(2)
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|
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2,431
|
|
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$
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43.75
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(1)
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Includes 475,430 performance-based stock unit awards as of both March 31, 2020 and December 31, 2019, which represents the maximum amount that can vest.
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(2)
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Includes 240,765 performance-based stock unit awards.
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