The activity related to the Company’s incentive equity awards for the six months ended June 30, 2020 consisted of the following:
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RSUs |
|
PSUs |
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Number of
RSUs |
|
Weighted
Average
Grant Price |
|
Number
of
PSUs |
|
Weighted
Average
Grant Price |
Balance as of December 31, 2019 |
0.8 |
|
|
$ |
55.75 |
|
|
0.1 |
|
|
$ |
52.44 |
|
Granted (a)
|
0.6 |
|
|
53.01 |
|
|
0.1 |
|
|
53.40 |
|
Vested |
(0.3 |
) |
|
56.15 |
|
|
— |
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|
— |
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Canceled |
(0.2 |
) |
|
54.81 |
|
|
— |
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|
— |
|
Balance as of June 30, 2020 |
0.9 |
|
(b) |
$ |
54.15 |
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|
0.2 |
|
(c) |
$ |
52.93 |
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(a) |
Represents awards granted by the Company primarily in February 2020. |
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(b) |
RSUs outstanding as of June 30, 2020 are expected to vest over time and have an aggregate unrecognized compensation expense of $45 million, which is expected to be recognized over a weighted average period of 3.1 years.
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(c) |
PSUs outstanding as of June 30, 2020 are expected to vest over time and have an aggregate unrecognized compensation expense of $9 million, which may be recognized over a weighted average period of 2.9 years.
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The activity related to stock options granted by the Company for the six months ended June 30, 2020 consisted of the following:
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Number of Options |
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Weighted Average Exercise Price |
|
Weighted Average Remaining Contractual Life (Years) |
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Aggregate Intrinsic Value (in millions) |
Outstanding as of December 31, 2019 |
0.9 |
|
|
$ |
56.96 |
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Granted |
0.6 |
|
|
53.40 |
|
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|
|
|
Exercised |
— |
|
|
— |
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|
|
|
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Canceled |
(0.1 |
) |
|
54.72 |
|
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|
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Expired |
— |
|
|
— |
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Outstanding as of June 30, 2020 |
1.4 |
|
|
$ |
55.57 |
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|
6.0 |
|
$ |
— |
|
Unvested as of June 30, 2020 |
1.0 |
|
(a) |
$ |
54.54 |
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|
6.2 |
|
$ |
— |
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Exercisable as of June 30, 2020 |
0.4 |
|
|
$ |
57.94 |
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|
5.6 |
|
$ |
— |
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______________________
(a)
Unvested options as of June 30, 2020 are expected to vest over time and have an aggregate unrecognized compensation expense of $9 million, which is expected to be recognized over a weighted average period of 3.1 years.
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