v3.26.1
Share-based Incentive Compensation Plans
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-based Incentive Compensation Plans Share-based Incentive Compensation Plans
Omnibus Incentive Plans

The Company previously offered equity-based compensation awards to its employees and non-employee directors under various employee and non-employee incentive plans (together, the "Omnibus Plans"). The Company currently offers equity-based compensation awards to its employees and non-employee directors under the 2024 Omnibus Incentive Plan (the "2024 Omnibus Plan"). As of March 31, 2026, common stock reserved and available for issuance under the 2024 Omnibus Plan was 5.1 million shares.

Compensation Cost

The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans and the 2024 Omnibus Plan for the periods indicated:
Three Months Ended March 31,
20262025
Restricted Stock Unit (RSU) awards$24 $20 
Performance Stock Unit (PSU) awards11 
Total share-based compensation expense35 28 
Income tax benefit
After-tax share-based compensation expense$29 $21 

Awards Outstanding

The following table summarizes RSU and PSU awards activity under the Omnibus Plans and the 2024 Omnibus Plan for the periods indicated:
RSU AwardsPSU Awards
(awards in millions)
Number of AwardsWeighted Average Grant Date Fair ValueNumber of AwardsWeighted Average Grant Date Fair Value
Outstanding as of January 1, 20261.8 $70.48 1.9 $71.43 
Adjustment for PSU performance factor— — (0.4)73.12 
Granted1.1 73.11 0.6 82.19 
Vested(0.7)71.07 (0.3)82.72 
Forfeited(0.1)72.07 — 
*
73.54 
Outstanding as of March 31, 2026
2.1 $71.64 1.8 $73.08 
*less than 0.1

The following table summarizes the number of options under the Omnibus Plans for the periods indicated:
Stock Options
(awards in millions)
Number of AwardsWeighted Average Exercise Price
Outstanding as of January 1, 20260.5 $50.03 
Granted— — 
Exercised— — 
Forfeited— — 
Outstanding as of March 31, 2026
0.5 $50.03 
Vested, exercisable, as of March 31, 2026
0.5 $50.03