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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Weighted-average assumptions used to estimate fair value of restricted stock units 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.
Nine Months Ended September 30,20222021
Fair value per stock award$141.95 $171.63 
Grant date stock price$114.52 $141.59 
Assumptions:
Aptar's stock price expected volatility20.20 %21.40 %
Expected average volatility of peer companies41.70 %50.00 %
Correlation assumption41.20 %58.10 %
Risk-free interest rate2.04 %0.32 %
Dividend yield assumption1.33 %1.02 %
Summary of restricted stock unit activity
A summary of RSU activity as of September 30, 2022 and changes during the nine month 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, 2022485,479 $108.73 650,553 $111.04 
Granted200,815 111.85 249,656 123.97 
Vested(149,044)106.69 (43,388)134.97 
Forfeited(6,131)111.59 (75,050)112.28 
Nonvested at September 30, 2022531,119 $110.39 781,771 $113.73 
Schedule of compensation expense, fair value, and intrinsic value related to RSU's
Nine Months Ended September 30,20222021
Compensation expense$31,925 $29,493 
Fair value of units vested20,663 29,671 
Intrinsic value of units vested22,329 39,752 
Summary of option activity A summary of option activity under our stock plans during the nine months ended September 30, 2022 is presented below:
Stock Awards PlansDirector Stock Option Plans
OptionsWeighted Average
Exercise Price
OptionsWeighted Average
Exercise Price
Outstanding, January 1, 20223,072,503 $71.99 51,700 $63.91 
Exercised(284,885)64.62   
Forfeited or expired(400)51.80   
Outstanding at September 30, 20222,787,218 $72.74 51,700 $63.91 
Exercisable at September 30, 20222,787,218 $72.74 51,700 $63.91 
Weighted-Average Remaining Contractual Term (Years):
Outstanding at September 30, 20223.41.3
Exercisable at September 30, 20223.41.3
Aggregate Intrinsic Value:
Outstanding at September 30, 2022$64,654 $1,656 
Exercisable at September 30, 2022$64,654 $1,656 
Intrinsic Value of Options Exercised During the Nine Months Ended:
September 30, 2022$13,618 $ 
September 30, 2021$65,139 $4,248 
Schedule of compensation expense, and fair value related to options
Nine Months Ended September 30,2021
Compensation expense (included in SG&A)$185 
Compensation expense (included in Cost of sales)42 
Compensation expense, Total$227 
Compensation expense, net of tax174 
Grant date fair value of options vested2,421