Annual report pursuant to Section 13 and 15(d)

Stock Plans and Management Compensation (Tables)

v3.10.0.1
Stock Plans and Management Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation [Abstract]  
Non-Vested Stock Award Activity
The weighted average price per Non-vested stock award at grant date was $59.05, $60.30 and $40.01 for awards granted in 2018, 2017 and 2016, respectively. Non-vested stock award activity for the year ended December 31, 2018 was as follows:
(in thousands, except grant date fair value)
Non-vested Stock Award Activity
 
Weighted Average Grant Date Fair Value ($)
Non-vested awards, unvested at January 1
376

 
51.69

Awarded
357

 
59.05

Forfeited
(64
)
 
55.30

Vested
(95
)
 
57.99

Non-vested awards, unvested at December 31
574

 
54.82

SARs and Stock Option Activity
SARs activity for all plans for the years ended December 31, 2018, 2017 and 2016, was as follows:
 
2018
 
2017
 
2016
(in thousands, except exercise price and terms)

SARs
Outstanding
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining Contractual Term
 
Aggregate Intrinsic Value
 

SARs
Outstanding
 
Weighted
Average
Exercise
Price
 
Aggregate Intrinsic Value
 

SARs
Outstanding
 

Weighted
Average
Exercise
Price
 
Aggregate Intrinsic Value
Outstanding on January 1
594

 
$
14.40

 
 
 
 
 
978

 
$
14.43

 
 
 
2,234

 
$
15.78

 
 
Exercised
(248
)
 
$
12.10

 
 
 
$
12,636

 
(352
)
 
$
14.37

 
$
16,071

 
(1,252
)
 
$
16.76

 
$
32,096

Forfeited
(3
)
 
$
17.06

 
 
 
 
 
(32
)
 
$
15.76

 
 
 
(4
)
 
$
38.42

 
 
Outstanding on December 31
343

 
$
16.04

 
1.7 years
 
$
10,439

 
594

 
$
14.40

 
$
24,261

 
978

 
$
14.43

 
$
39,228

Exercisable on December 31
343

 
$
16.04

 
1.7 years
 
$
10,439

 
594

 
$
14.40

 
$
24,261

 
978

 
$
14.43

 
$
39,228

Vested and expected to vest on December 31
343

 
$
16.04

 
1.7 years
 
$
10,439

 
594

 
$
14.40

 
$
24,261

 
978

 
$
14.43

 
$
39,228

SARs and Stock Options Outstanding
The following table summarizes information about SARs outstanding as of December 31, 2018:
 
 
Outstanding and Exercisable


Range of Exercise
Price
 


Number
(in thousands)
 
Weighted
Average Remaining Years of
Contractual
Life
 
Weighted
Average
Exercise
Price
$5.86
 
27

 
0.4 years

 
$
5.86

$5.87 to $14.68
 
154

 
1.2
 years
 
$
11.32

Greater than $14.68
 
162

 
2.4
 years
 
$
22.27

Fair Value Assumptions for Performance Awards
The fair values of the senior executives' performance share award grants with a TSR modifier at the grant date in 2018, 2017 and 2016 were $61.59, $64.82 and $38.54, respectively, which were estimated using the Monte Carlo valuation model, and incorporated the following assumptions:
 
2018
 
2017
 
2016
Risk-free interest rate
2.4
%
 
1.5
%
 
0.8
%
Dividend yield
1.3
%
 
1.1
%
 
1.0
%
Volatility factor
38.9
%
 
38.3
%
 
40.8
%
Expected life of award
2.9 years

 
2.9 years

 
2.9 years

Performance Award Activity
Performance award activity for the year ended December 31, 2018 was as follows:
(in thousands, except grant date fair value)
Performance Awards
 
Weighted Average Grant Date Fair Value ($)
Performance awards, unvested at January 1
102

 
50.69

Awarded
176

 
59.11

Forfeited
(20
)
 
59.07

Vested and earned
(167
)
 
52.79

Performance awards, unvested at December 31
91

 
61.32