Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.22.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Activities Under Share-Based Compensation Plans

The following table summarizes the activities for all SARs under the Company’s share-based compensation plans for the year ended December 31, 2021:

 

 

 

Number of Awards

 

 

Weighted-Average Exercise Price Per Award

 

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value(1)

 

 

 

(in thousands)

 

 

 

 

 

 

 

(in millions)

 

Outstanding as of December 31, 2020(2)(3)

 

 

3,737

 

 

$

27.23

 

 

4.6 years

 

$

77.8

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

 

Exercised(4)

 

 

(1,092

)

 

$

27.60

 

 

 

 

 

 

Forfeited

 

 

(23

)

 

$

25.03

 

 

 

 

 

 

Outstanding as of December 31, 2021(3)

 

 

2,622

 

 

$

27.10

 

 

3.8 years

 

$

36.3

 

Exercisable as of December 31, 2021(5)

 

 

2,622

 

 

$

27.10

 

 

3.8 years

 

$

36.3

 

Vested and expected to vest as of December 31, 2021

 

 

2,622

 

 

$

27.10

 

 

3.8 years

 

$

36.3

 

 

(1) The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards.

(2) Includes less than 0.1 million market condition SARS as of December 31, 2020.

(3) Includes 0.8 million and 1.1 million performance condition SARs as of December 31, 2021 and 2020, respectively.

(4) Includes less than 0.1 million market condition and 0.3 million performance condition SARs.

(5) Includes 0.8 million performance condition SARs.

The following table summarizes the activities for all stock units under the Company’s share-based compensation plans for the year ended December 31, 2021:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value Per Share

 

 

 

(in thousands)

 

 

 

 

Outstanding and nonvested as of December 31, 2020(1)

 

 

3,068

 

 

$

44.01

 

Granted(2)

 

 

1,537

 

 

$

48.32

 

Vested(3)

 

 

(941

)

 

$

45.19

 

Forfeited(4)

 

 

(264

)

 

$

48.80

 

Outstanding and nonvested as of December 31, 2021(1)

 

 

3,400

 

 

$

45.26

 

Expected to vest as of December 31, 2021(5)

 

 

2,955

 

 

$

45.07

 

 

 

(1) Includes 913,388 and 712,596 performance based stock unit awards as of December 31, 2021 and 2020, respectively, which represents the maximum amount that can vest.

(2) Includes 447,346 performance-based stock unit awards.

(3) Includes 117,105 performance-based stock unit awards.

(4) Includes 129,449 performance-based stock unit awards.

(5) Includes 539,452 performance-based stock unit awards.