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.

Total compensation expense for share-based payment arrangements and the associated tax impacts were as follows for the three and six months ended June 30, 2022 and 2021.

TABLE 71: TOTAL COMPENSATION EXPENSE FOR SHARE-BASED PAYMENT ARRANGEMENTS


	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
(In Millions)	2022		2021		2022		2021
Restricted Stock Unit Awards	$	16.9	$	15.2	$	69.5	$	53.6
Performance Stock Units	3.1		3.6		20.5		15.7
Total Share-Based Compensation Expense	20.0		18.8		90.0		69.3
Tax Benefits Recognized	$	5.0	$	4.7	$	22.6	$	17.4