Share-Based Compensation Plans

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

The Northern Trust Corporation 2017 Long-Term Incentive Plan provides for the grant of non-qualified and incentive stock options; tandem and free-standing stock appreciation rights; stock awards in the form of restricted stock, restricted stock units and other stock awards; and performance awards.

Beginning with the grants made on February 21, 2017 under the Corporation’s prior equity incentive plan, restricted stock unit and performance stock unit grants continue to vest in accordance with the original terms of the award if the applicable employee retires after satisfying applicable age and service requirements. For all applicable periods, stock option grants continue to vest in accordance with the original terms of the award if the employee meets applicable age and service requirements upon separation from service.

Total compensation expense for share-based payment arrangements and the associated tax impacts were as follows for the three and nine months ended September 30, 2020 and 2019.

TABLE 74: TOTAL COMPENSATION EXPENSE FOR SHARE-BASED PAYMENT ARRANGEMENTS


	THREE MONTHS ENDED SEPTEMBER 30,						NINE MONTHS ENDED SEPTEMBER 30,
(In Millions)	2020		2019		2020		2019
Restricted Stock Unit Awards	$	12.2	$	14.0	$	66.3	$	68.5
Stock Options	0.1		0.4		0.4		1.1
Performance Stock Units	1.6		2.9		16.1		21.7
Total Share-Based Compensation Expense	13.9		17.3		82.8		91.3
Tax Benefits Recognized	$	3.5	$	4.3	$	20.6	$	22.7