Stock-Based Compensation

6 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

The Johnson Controls International plc 2021 Equity and Incentive Plan authorizes stock options, stock appreciation rights, restricted (non-vested) stock/units, performance share units and other stock-based awards. The Compensation and Talent Development Committee of the Company's Board of Directors determines the types of awards to be granted to individual participants and the terms and conditions of the awards. Awards are typically granted annually in the Company’s fiscal first quarter.

A summary of the stock-based awards granted is presented below:


	Six Months Ended March 31,
	2023			2022
	Number Granted	Weighted Average Grant Date Fair Value		Number Granted	Weighted Average Grant Date Fair Value
Restricted stock/units	1,720,662	$	66.59	1,267,490	$	78.50
Performance shares	339,191	79.54		482,030	82.88
Stock options	570,140	18.21		548,398	18.59

Performance Share Awards

The following table summarizes the assumptions used in determining the fair value of performance share units granted:


	Six Months Ended March 31,
	2023	2022
Risk-free interest rate	4.04%	0.99%
Expected volatility of the Company’s stock	33.5%	30.0%

Stock Options

The following table summarizes the assumptions used in determining the fair value of stock options granted:


	Six Months Ended March 31,
	2023	2022
Expected life of option (years)	5.8	6.0
Risk-free interest rate	3.59%	1.35%
Expected volatility of the Company’s stock	29.4%	27.8%
Expected dividend yield on the Company’s stock	2.10%	1.71%