Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.22.1
Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [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 three months ended March 31, 2022:

 

 

 

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, 2021(2)

 

 

2,622

 

 

$

27.10

 

 

3.8 years

 

$

36.3

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

 

Exercised

 

 

(17

)

 

$

22.57

 

 

 

 

 

 

Forfeited

 

 

—

 

 

$

—

 

 

 

 

 

 

Outstanding as of March 31, 2022(2)

 

 

2,605

 

 

$

27.13

 

 

3.6 years

 

$

10.7

 

Exercisable as of March 31, 2022(3)

 

 

2,605

 

 

$

27.13

 

 

3.6 years

 

$

10.7

 

Vested and expected to vest as of March 31, 2022

 

 

2,605

 

 

$

27.13

 

 

3.6 years

 

$

10.7

 

 

(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 0.8 million performance condition SARs as of both March 31, 2022 and December 31, 2021, which represents the maximum amount that can vest.
(3)
Includes 0.8 million performance condition SARs.

There were no SARs granted during the three months ended March 31, 2022 and 2021. The total intrinsic value of SARs exercised during the three months ended March 31, 2022 and 2021 was $0.3 million and $13.8 million, respectively.

The following table summarizes the activities for all restricted stock units under the Company’s share-based compensation plans for the three months ended March 31, 2022:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value Per Share

 

 

 

(in thousands)

 

 

 

 

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

 

 

3,400

 

 

$

45.26

 

Granted(2)

 

 

1,971

 

 

$

36.63

 

Vested

 

 

(750

)

 

$

48.77

 

Forfeited(3)

 

 

(126

)

 

$

45.41

 

Outstanding and nonvested as of March 31, 2022(1)

 

 

4,495

 

 

$

40.89

 

Expected to vest as of March 31, 2022(4)

 

 

3,787

 

 

$

40.69

 

 

(1)
Includes 1,357,760 and 913,388 performance-based restricted stock units as of March 31, 2022 and December 31, 2021, respectively, which represents the maximum amount that can vest.
(2)
Includes 538,482 performance-based restricted stock units.
(3)
Includes 94,110 performance-based restricted stock units
(4)
Includes 734,564 performance-based restricted stock units.