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SHARE-BASED COMPENSATION
6 Months Ended
Jun. 30, 2019
Share Based Compensation [Abstract]  
SHARE-BASED COMPENSATION

NOTE 13: SHARE-BASED COMPENSATION

Share-based compensation activity during year-to-date 2019 included the following:

 

SHARES IN THOUSANDS

 

GRANTED

 

 

VESTED

 

Restricted Stock Units (RSUs)

 

 

952

 

 

 

630

 

Performance Share Units (PSUs)

 

 

421

 

 

 

153

 

 

A total of 863 thousand shares of common stock were issued as a result of RSU vestings, PSU vestings and stock option exercises.

Restricted Stock Units

The weighted average fair value of the RSUs granted in 2019 was $25.75. The vesting provisions for RSUs granted in 2019 were consistent with prior year grants.

Performance Share Units

The weighted average grant date fair value of PSUs granted in 2019 was $29.66. The final number of shares granted in 2019 will range from 0 percent to 150 percent of each grant's target, depending upon actual company performance compared against the S&P 500 as well as an industry peer group. These measures are consistent with those utilized in prior year grants. The vesting provisions for PSUs granted in 2019 were consistent with prior year grants.

Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted in 2019

 

 

 

PERFORMANCE SHARE UNITS

 

Performance period

 

1/1/2019 – 12/31/2021

 

Valuation date average stock price(1)

 

$25.83

 

Expected dividends

 

5.25%

 

Risk-free rate

 

2.43% – 2.55%

 

Expected volatility

 

22.50% – 27.40%

 

 

(1)

Calculated as an average of the high and low prices on grant date.