Stock-Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation:

We issue various long-term incentive awards, including performance share units, restricted stock units and stock appreciation rights under the Lennox International Inc. 2019 Equity and Incentive Plan, as it may be amended and restated from time to time. Stock-based compensation expense related to continuing operations is included in Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations as follows (in millions):

	For the Three Months Ended March 31,
	2024		2023
Stock-based compensation expense	$	6.6	$	6.1

Historically, our annual equity awards were granted in December. However, starting in 2024, we made the decision to move our annual grant to February on a go-forward basis. Equity awards granted in February 2024 were as follows:

	Shares	Weighted - Average Grant Date Fair Value per Share
Performance Share Units	23,690	$	403.68
Restricted Stock Units	27,391	$	403.68
Stock Appreciation Rights	47,245	$	136.37