v3.26.1
Stock-Based Compensation Plans
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans

NOTE 13 – STOCK-BASED COMPENSATION PLANS

The following table summarizes the transactions of the Company’s share-based compensation for 2026 and 2025:

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

(in millions)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Stock options

 

$

2.0

 

 

$

2.2

 

 

$

3.8

 

 

$

4.1

 

Stock equivalent units

 

 

2.9

 

 

 

0.3

 

 

 

3.0

 

 

 

0.5

 

Total

 

$

4.9

 

 

$

2.5

 

 

$

6.8

 

 

$

4.6

 

The following table summarizes the transactions of the Company’s share-based compensation plans for the six months ended June 30, 2026.

 

 

Number of
shares

 

 

Weighted
Average
Grant-Date
Fair Value

 

Nonvested at December 31, 2025

 

 

431,297

 

 

$

109.5

 

Granted

 

 

207,659

 

 

$

76.9

 

Vested

 

 

(94,692

)

 

$

91.0

 

Forfeited

 

 

(44,388

)

 

$

93.1

 

Nonvested at June 30, 2026

 

 

499,876

 

 

$

100.5

 

 

For the awards granted with market conditions, a Monte Carlo model has been used to calculate the grant-date fair value. For all other awards granted, a fair market value methodology has been used to calculate the grant-date fair value.

The awards granted with market and non-market conditions include performance measures that can result in a maximum 200% vesting for the number of stock options granted. The predicted vesting has been reflected in the grant-date fair value calculation, but has not been reflected for the number of awards granted, as shown in the table above.

As of June 30, 2026, there was $26.0 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 2.1 years.