v3.26.3
Share-Based Compensation
9 Months Ended
Sep. 30, 2026
Share-Based Compensation  
Share-Based Compensation

Note 10 — Share-Based Compensation

For a description of the Company’s share‑based compensation plans, including equity plan structure and Restricted Stock Units (“RSUs”) program mechanics, refer to Note 17 to the Consolidated Financial Statements in the 2025 Form 10‑K.

Stock Options

Activity in the Company’s stock option plans is summarized in the following table:

 

 

 

Shares

 

 

Weighted
Average
Price

 

 

Weighted
Average
Remaining
(Yrs.)

 

 

Aggregate
Intrinsic
(000’s)

 

 

Outstanding at January 1, 2026

 

 

28,815

 

 

$

 

61.00

 

 

 

 

 

 

 

 

 

Exercised

 

 

(10,104

)

 

 

 

67.04

 

 

 

 

 

 

 

 

 

Expired

 

 

(307

)

 

 

 

43.97

 

 

 

 

 

 

 

 

 

Outstanding at September 30,2026

 

 

18,404

 

 

 

 

57.97

 

 

 

0.72

 

 

$

 

765

 

 

Exercisable at September 30,2026

 

 

18,404

 

 

 

 

57.97

 

 

 

0.72

 

 

$

 

765

 

 

 

Restricted Stock Units (“RSUs”)

Outstanding RSUs for the nine months ended September 30, 2026, are summarized in the following table:

 

Restricted Stock Units

 

Shares

 

 

Weighted-
Average
Grant-Date
Fair Value

 

 

Outstanding at January 1, 2026

 

 

820,878

 

 

$

 

86.43

 

 

Granted

 

 

454,530

 

 

 

 

93.90

 

 

Vested

 

 

(408,581

)

 

 

 

80.28

 

 

Forfeited

 

 

(13,012

)

 

 

 

91.58

 

 

Outstanding at September 30,2026

 

 

853,815

 

 

$

 

93.27

 

 

 

If maximum performance is achieved pursuant to the 2024, 2025 and 2026 Long Term Incentive performance-based RSU grants, an additional 133,514 shares in total may be issued by the Company at the end of the three-year performance periods.

As of September 30, 2026, there was $40.8 million of total unrecognized compensation cost at target related to nonvested RSUs granted under the plan. This cost is expected to be recognized over a weighted-average period of 1.25 years as of September 30, 2026. The total fair value of RSUs vested and released during the nine months ended September 30, 2026, was $41.8 million.