XML 65 R46.htm IDEA: XBRL DOCUMENT v3.20.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Inputs and assumptions used to calculate fair value Inputs and assumptions used to calculate the fair value are shown in the table below. The fair value of these RSUs is expensed over the vesting period using the straight-line method or using the graded vesting method when an employee becomes eligible to retain the award at retirement.
Year Ended December 31,202020192018
Fair value per stock award$94.98 $134.97 $128.70 
Grant date stock price$83.93 $104.51 $89.42 
Assumptions:
Aptar's stock price expected volatility23.80 %16.50 %12.30 %
Expected average volatility of peer companies48.50 %31.90 %27.50 %
Correlation assumption63.50 %37.40 %20.20 %
Risk-free interest rate0.31 %2.19 %2.42 %
Dividend yield assumption1.72 %1.30 %1.43 %
Summary of RSU activity
A summary of RSU activity as of December 31, 2020, and changes during the period then ended is presented below:
Time-Based RSUsPerformance-Based RSUs
UnitsWeighted Average
Grant-Date Fair Value		UnitsWeighted Average
Grant-Date Fair Value
Nonvested at January 1, 2020
480,729$95.45 181,680$117.26 
Granted241,81287.13 417,31393.08 
Vested(138,606)86.84 —— 
Forfeited(7,737)97.80 (8,929)111.60 
Nonvested at December 31, 2020576,198$92.47 590,064$100.27 
Schedule of compensation expense, fair value, and intrinsic value related to RSU's
Year Ended December 31,202020192018
Compensation expense$32,085 $18,197 $8,703 
Fair value of units vested12,038 4,566 2,980 
Intrinsic value of units vested14,446 5,360 3,708 
Weighted-average assumptions used to estimate fair value of stock options granted These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Stock Awards Plans:
Year Ended December 31,2018
Dividend Yield1.5 %
Expected Stock Price Volatility14.2 %
Risk-free Interest Rate2.8 %
Expected Life of Option (years)6.6
Summary of option activity
A summary of option activity under our stock plans as of December 31, 2020, and changes during the period then ended is presented below:
Stock Awards PlansDirector Stock Option Plans
OptionsWeighted Average
Exercise Price		OptionsWeighted Average
Exercise Price
Outstanding, January 1, 2020
5,044,180 $68.32 135,251 $58.45 
Granted— — — — 
Exercised(1,035,649)60.81 (36,051)52.00 
Forfeited or expired(10,484)80.13 — — 
Outstanding at December 31, 20203,998,047 $70.28 99,200 $60.80 
Exercisable at December 31, 20203,845,344 $69.45 99,200 $60.80 
Weighted-Average Remaining Contractual Term (Years):
Outstanding at December 31, 20204.82.6
Exercisable at December 31, 20204.62.6
Aggregate Intrinsic Value:
Outstanding at December 31, 2020$256,760 $7,311 
Exercisable at December 31, 2020$249,299 $7,311 
Intrinsic Value of Options Exercised During the Years Ended:
December 31, 2020$59,179 $2,318 
December 31, 2019$87,251 $1,172 
December 31, 2018$72,951 $2,286 
Schedule of compensation expense, and fair value related to options
Year Ended December 31,202020192018
Compensation expense (included in SG&A)$1,693 $4,768 $8,677 
Compensation expense (included in Cost of sales)370 928 2,181 
Compensation expense, Total$2,063 $5,696 $10,858 
Compensation expense, net of tax1,573 4,507 8,391 
Grant date fair value of options vested7,601 17,492 16,518