Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Stock-Based Compensation |
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| Number of Shares to be issued upon Exercise of Outstanding Stock-Based Awards and Remaining Shares Available for Future Issuance under all Equity Compensation Plans |
The following table provides detail of the number of shares to be issued upon exercise of outstanding stock-based awards and remaining shares available for future issuance under all of the Bancorp's equity compensation plans approved by shareholders as of December 31, 2015: | | | | | | | | | | Plan Category (shares in thousands) | Number of Shares to be Issued Upon Exercise | | Weighted-Average Exercise Price Per Share | Shares Available for Future Issuance | | Equity compensation plans approved by shareholders | | | | | 24,667 | (a) | | | SARs | (b) | | N/A | | | (a) | | | RSAs | 8,281 | | N/A | | | (a) | | | RSUs | 371 | | N/A | | | (a) | | | Stock options(c) | 7 | | $32.26 | | | (a) | | | Phantom stock units | (d) | | N/A | | N/A | | | | PSAs | (e) | | N/A | | | (a) | | | Employee stock purchase plan | | | | | 6,813 | (f) | | Total shares | 8,659 | | | | 31,480 | |
- Under the 2014 Incentive Compensation Plan, 36 million shares were authorized for issuance as SARs, RSAs, RSUs, stock options, performance share or unit awards, dividend or dividend equivalent rights and stock awards.
- The number of shares to be issued upon exercise will be determined at exercise based on the difference between the grant price and the market price on the date of exercise and the calculation of taxes owed on the exercise.
- Excludes 0.1 million outstanding options awarded under plans assumed by the Bancorp in connection with certain mergers and acquisitions. The Bancorp has not made any awards under these plans and will make no additional awards under these plans. The weighted-average exercise price of the outstanding options is $13.89 per share.
- Phantom stock units are settled in cash.
- The number of shares to be issued is dependent upon the Bancorp achieving certain predefined performance targets and ranges from zero shares to approximately 1 million shares.
- Represents remaining shares of Fifth Third common stock under the Bancorp's 1993 Stock Purchase Plan, as amended and restated, including an additional 1.5 million shares approved by shareholders on March 28, 2007 and an additional 12 million shares approved by shareholders on April 21, 2009.
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| Schedule of Share-based Payment Award, Stock Appreciation Rights, Valuation Assumptions |
| | | | | | | | | The weighted-average assumptions were as follows for the years ended December 31: | | | | | | | | | | | | 2015 | 2014 | 2013 | | Expected life (in years) | 6 | | 6 | | 6 | | | Expected volatility | 35 | % | 35 | | 36 | | | Expected dividend yield | 2.7 | | 2.4 | | 3.0 | | | Risk-free interest rate | 1.6 | | 2.0 | | 1.0 | | | | | | | | | |
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| Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity |
| | | | | | | | | | | | | | | | | | 2015 | 2014 | 2013 | | | | | | Weighted- | | | Weighted- | | | Weighted- | | | | Number of SARs | Average Grant | Number of SARs | Average Grant | Number of SARs | Average Grant | | SARs (in thousands, except per share data) | | | Price Per Share | | Price Per Share | | Price Per Share | | Outstanding at January 1 | | 45,590 | $ | 19.79 | | 48,599 | $ | 19.98 | | 44,120 | $ | 20.41 | | | Granted | | 5,219 | | 18.99 | | 4,526 | | 21.63 | | 10,267 | | 16.16 | | | Exercised | | (3,242) | | 13.59 | | (4,408) | | 13.63 | | (2,904) | | 11.18 | | | Forfeited or expired | | (3,438) | | 32.96 | | (3,127) | | 34.19 | | (2,884) | | 21.78 | | | Outstanding at December 31 | | 44,129 | $ | 19.14 | | 45,590 | $ | 19.79 | | 48,599 | $ | 19.98 | | | Exercisable at December 31 | | 29,721 | $ | 19.71 | | 27,950 | $ | 21.71 | | 26,462 | $ | 24.14 | | | | | | | | | | | | | | | | |
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| Outstanding and Exercisable SARs by Grant Price |
| The following table summarizes outstanding and exercisable SARs by grant price per share at December 31, 2015: | | | | | | | | | | | | | | | | | | | | Outstanding SARs | | Exercisable SARs | | | | | | | | Weighted- | | | | | | Weighted- | | | | | | | Average | | | | | Average | | | | | Weighted- | Remaining | | | Weighted- | Remaining | | | | Number of | Average Grant | Contractual Life | | Number of | Average Grant | Contractual Life | | SARs (in thousands, except per share data) | | SARs | Price Per Share | (in years) | | SARs | Price Per Share | (in years) | | Under $10.00 | | 2,943 | $ | 3.98 | | 3.3 | | | 2,943 | $ | 3.98 | | 3.3 | | | $10.01-$20.00 | | 30,488 | | 15.99 | | 6.3 | | | 19,074 | | 15.37 | | 5.3 | | | $20.01-$30.00 | | 4,047 | | 21.64 | | 8.2 | | | 1,053 | | 21.66 | | 8.1 | | | $30.01-$40.00 | | 6,069 | | 38.66 | | 0.8 | | | 6,069 | | 38.66 | | 0.8 | | | Over $40.00 | | 582 | | 40.11 | | 1.3 | | | 582 | | 40.11 | | 1.3 | | | All SARs | | 44,129 | $ | 19.14 | | 5.5 | | | 29,721 | $ | 19.71 | | 4.2 | | | | | | | | | | | | | | | | | |
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| Schedule of Share-Based Compensation, RSAs |
| | | | | | | | | | | | | | | | | | 2015 | 2014 | 2013 | | | | | | Weighted-Average | | | Weighted-Average | | | Weighted-Average | | | | | | Grant-Date | | | Grant-Date | | | Grant-Date | | | | | | Fair Value | | | Fair Value | | | Fair Value | | RSAs (in thousands, except per share data) | | Shares | Per Share | Shares | Per Share | Shares | Per Share | | Nonvested at January 1 | | 7,253 | $ | 17.98 | | 6,710 | $ | 15.11 | | 6,379 | $ | 14.32 | | | Granted | | 4,250 | | 19.11 | | 3,264 | | 21.61 | | 3,583 | | 16.21 | | | Exercised | | (2,580) | | 16.86 | | (2,183) | | 14.84 | | (2,720) | | 14.71 | | | Forfeited | | (642) | | 18.64 | | (538) | | 16.73 | | (532) | | 14.97 | | | Nonvested at December 31 | | 8,281 | $ | 18.88 | | 7,253 | $ | 17.98 | | 6,710 | $ | 15.11 | | | | | | | | | | | | | | | | |
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| Unvested RSAs by Grant-Date Fair Value |
| The following table summarizes nonvested RSAs by grant-date fair value at December 31, 2015: | | | | | | | | | | | Nonvested RSAs | | | | | Weighted-Average | | | | | Remaining | | | | | Contractual Life | | RSAs (in thousands) | | Shares | (in years) | | $10.01-$15.00 | | 690 | | 0.3 | | | $15.01-$20.00 | | 5,153 | | 1.6 | | | $20.01-$25.00 | | 2,438 | | 1.4 | | | All RSAs | | 8,281 | | 1.4 | | | | | | | | |
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| Schedule of Share-Based Compensation, RSUS |
| | | | | | | | | | | | | | | 2015 | | | | | | | | | Weighted-Average | | | | | | | | | Grant-Date | | | | | | | | | Fair Value | | RSUs (in thousands, except per share data) | | | | Shares | Per Share | | Nonvested at January 1 | | | | | | - | $ | N/A | | | Granted | | | | | | 377 | | 19.58 | | | Released | | | | | | (5) | | 21.63 | | | Forfeited | | | | | | (1) | | 19.46 | | | Nonvested at December 31 | | | | | | 371 | $ | 19.56 | | | | | | | | | | | | |
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| Unvested RSUs by Grant-Date Fair Value |
| The following table summarizes nonvested RSUs by grant-date fair value at December 31, 2015: | | | | | | | | | | | Nonvested RSUs | | | | | Weighted-Average | | | | | Remaining | | | | | Contractual Life | | RSUs (in thousands) | | Shares | (in years) | | $15.01-$20.00 | | 318 | | 1.8 | | | $20.01-$25.00 | | 53 | | - | | | All RSUs | | 371 | | 1.6 | | | | | | | | |
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| Schedule of Share-based Compensation, Stock Options, Activity |
| | | | | | | | | | | | | | | | | | 2015 | 2014 | 2013 | | | | | | Weighted-Average | | | Weighted-Average | | | Weighted-Average | | | | Number of | Exercise Price | Number of | Exercise Price | Number of | Exercise Price | | Stock Options (in thousands, except per share data) | | Options | Per Share | Options | Per Share | Options | Per Share | | Outstanding at January 1 | | 265 | $ | 14.25 | | 546 | $ | 20.72 | | 3,877 | $ | 45.00 | | | Exercised | | (126) | | 13.67 | | (115) | | 12.84 | | (190) | | 11.88 | | | Forfeited or expired | | (20) | | 13.59 | | (166) | | 36.42 | | (3,141) | | 51.23 | | | Outstanding at December 31 | | 119 | $ | 14.97 | | 265 | $ | 14.25 | | 546 | $ | 20.72 | | | Exercisable at December 31 | | 119 | $ | 14.97 | | 265 | $ | 14.25 | | 546 | $ | 20.72 | | | | | | | | | | | | | | | | |
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| Outstanding and Exercisable Stock Options by Exercise Price |
| The following table summarizes outstanding and exercisable stock options by exercise price per share at December 31, 2015: | | | | | | | | | | | | | Outstanding and Exercisable Stock Options | | | | Number of Options | | | Weighted-Average | | | | | Weighted-Average | Remaining | | | | | Exercise Price | Contractual Life | | Stock Options (in thousands, except per share data) | | | Per Share | (in years) | | Under $10.00 | | 1 | $ | 8.59 | | 3.0 | | | $10.01-$20.00 | | 112 | | 13.89 | | 0.8 | | | $20.01-$30.00 | | 1 | | 24.41 | | 2.0 | | | $30.01-$40.00 | | - | | - | | - | | | Over $40.00 | | 5 | | 40.98 | | 1.0 | | | All stock options | | 119 | $ | 14.97 | | 0.8 | | | | | | | | | | |
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