Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.21.2
Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Activity Under Share-Based Compensation Plans

The following table summarizes the activity for all stock appreciation rights, or SARs, under the Company's share-based compensation plans for the nine months ended September 30, 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)

 

 

(1,027

)

 

$

27.67

 

 

 

 

 

 

Forfeited

 

 

(23

)

 

$

25.03

 

 

 

 

 

 

Outstanding as of September 30, 2021(3)

 

 

2,687

 

 

$

27.08

 

 

4.0 years

 

$

41.1

 

Exercisable as of September 30, 2021(5)

 

 

2,687

 

 

$

27.08

 

 

4.0 years

 

$

41.1

 

Vested and expected to vest as of September 30, 2021

 

 

2,687

 

 

$

27.08

 

 

4.0 years

 

$

41.1

 

 

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

(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 September 30, 2021 and December 31, 2020, respectively, which represents the maximum amount that can vest.

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

(5) Includes 0.8 million performance condition SARs.

There were no SARs granted during the three and nine months ended September 30, 2021 and 2020. The total intrinsic value of SARs exercised during the three months ended September 30, 2021 and 2020 was $1.6 million and $38.5 million, respectively. The total intrinsic value of SARs exercised during the nine months ended September 30, 2021 and 2020 was $25.7 million and $50.2 million, respectively.

The following table summarizes the activities for all stock units under the Company's share-based compensation plans for the nine months ended September 30, 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)

 

 

1,526

 

 

$

48.36

 

Vested

 

 

(811

)

 

$

43.57

 

Forfeited(3)

 

 

(111

)

 

$

44.95

 

Outstanding and nonvested as of September 30, 2021(1)

 

 

3,672

 

 

$

45.89

 

Expected to vest as of September 30, 2021(4)

 

 

3,212

 

 

$

45.51

 

 

(1) Includes 1,156,954 and 712,596 performance-based stock unit awards as of September 30, 2021 and December 31, 2020, respectively, which represents the maximum amount that can vest.

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

(3) Includes 2,988 performance-based stock unit awards

(4) Includes 768,754 performance-based stock unit awards.