v3.26.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Restricted Stock and RSU Activity

RSU activity for the nine months ended September 30, 2026 is summarized below.

Outstanding at

RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

December 31, 2025

 

3,237,707

 

 

$

896.41

 

Granted

 

640,293

 

 

$

1,160.44

 

Converted

 

(631,414

)

 

$

816.25

 

Forfeited

 

(133,952

)

 

$

917.10

 

September 30, 2026

 

3,112,634

 

 

$

966.09

 

Stock Option Activity

Stock option activity and ending balances for the nine months ended September 30, 2026 is summarized below.

 

2017 Performance-based
Options

 

 

2023 Performance-based
Options

 

 

2023 Time-based
Options

 

Outstanding at

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

 

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

 

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

December 31, 2025

 

300,356

 

 

$

513.50

 

 

 

678,732

 

 

$

673.58

 

 

 

281,377

 

 

$

673.58

 

Exercised

 

(246,714

)

 

$

513.50

 

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Forfeited

 

—

 

 

$

—

 

 

 

(13,575

)

 

$

673.58

 

 

 

—

 

 

$

—

 

September 30, 2026

 

53,642

 

 

$

513.50

 

 

 

665,157

 

 

$

673.58

 

 

 

281,377

 

 

$

673.58

 

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Option Type

 

Exercise Prices

 

 

Options Outstanding

 

 

Weighted Average Remaining Life (years)

 

 

Aggregate
Intrinsic
Value
(in millions)

 

 

Exercise Prices

 

 

Options
Exercisable

 

 

Weighted Average Remaining Life (years)

 

 

Aggregate
Intrinsic
Value
(in millions)

 

2017 Performance-based

 

$

513.50

 

 

 

53,642

 

 

 

0.2

 

 

$

29

 

 

$

513.50

 

 

 

53,642

 

 

 

0.2

 

 

$

29

 

2023 Performance-based

 

$

673.58

 

 

 

665,157

 

 

 

5.7

 

 

 

256

 

 

$

673.58

 

 

 

—

 

 

 

—

 

 

 

—

 

2023 Time-based

 

$

673.58

 

 

 

281,377

 

 

 

5.7

 

 

 

108

 

 

$

673.58

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

1,000,176

 

 

 

5.4

 

 

$

393

 

 

 

 

 

 

53,642

 

 

 

0.2

 

 

$

29

 

Performance-Based RSUs [Member]  
Restricted Stock and RSU Activity

Performance-based RSU activity for the nine months ended September 30, 2026 is summarized below.

Outstanding at

Performance-
Based RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

 

Performance-
Based RSUs in Connection with the GIP Transaction

 

 

Weighted-
Average
Grant Date
Fair Value

 

 

Total Performance-
Based RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

December 31, 2025

 

478,236

 

 

$

848.08

 

 

 

199,744

 

 

$

845.89

 

 

 

677,980

 

 

$

847.43

 

Granted

 

137,429

 

 

$

1,170.18

 

 

 

—

 

 

$

—

 

 

 

137,429

 

 

$

1,170.18

 

Additional shares due to
   attainment of performance
   measures

 

24,996

 

 

$

743.60

 

 

 

—

 

 

$

—

 

 

 

24,996

 

 

$

743.60

 

Converted

 

(175,588

)

 

$

743.60

 

 

 

—

 

 

$

—

 

 

 

(175,588

)

 

$

743.60

 

Forfeited

 

(3,790

)

 

$

914.57

 

 

 

(27,094

)

 

$

845.48

 

 

 

(30,884

)

 

$

853.96

 

September 30, 2026

 

461,283

 

 

$

977.60

 

 

 

172,650

 

 

$

845.95

 

 

 

633,933

 

 

$

941.75