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Share Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share Based Compensation |
Schedule of share-based compensation expense | Included in the Consolidated Statements of Comprehensive Income within Operating, Selling and General expense are the following share-based compensation amounts:
​ | ​ | ​ | ​ | ​ | ​
($ millions) |  | 2023 |  | 2022 |
Equity-settled plans | ​ | 16 |  | 17 | ​
Cash-settled plans |  | 413 |  | 484 | ​
Total share-based compensation expense |  | 429 |  | 501 | ​
Schedule of liability recognized for share-based compensation | Included in the Consolidated Balance Sheets within accounts payable and accrued liabilities and other long-term liabilities are the following fair value amounts for the company’s cash-settled plans:
​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31 |  | December 31 |
($ millions) |  | 2023 |  | 2022 |
Current liability |  | 549 |  | 326 | ​
Long-term liability (note 22) |  | 339 |  | 469 | ​
Total Liability |  | 888 |  | 795 | ​
Schedule of weighted average fair value of options granted during the period and the weighted average assumptions used in their determination | The weighted average fair value of options granted during the period and the weighted average assumptions used in their determination are noted below:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | 2023 |  | ​ | 2022 |
Annual dividend per share (dollars) |  | ​ | 2.11 |  | ​ | 1.88 | ​
Risk-free interest rate |  | ​ | 3.66% | ​ | ​ | 1.73% | ​
Expected life |  | ​ | 4.5 years |  | ​ | 5 years | ​
Expected volatility |  | ​ | 45% |  | ​ | 42% | ​
Weighted average fair value per option (dollars) |  | ​ | 12.70 |  | ​ | 9.27 | ​
​
Summary of activity of stock option plans | The following table presents a summary of the activity related to Suncor’s stock option plans:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ |  | Weighted |
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average |
​ | ​ | Number | ​ | Exercise Price | ​ | Number | ​ | Exercise Price |
​ | ​ | (thousands) | ​ | ($) | ​ | (thousands) | ​ | ($) |
Outstanding, beginning of year |  | 21 068 | ​ | 38.55 |  | 37 090 | ​ | 38.39 | ​
Granted |  | 1 610 | ​ | 44.56 |  | 2 191 | ​ | 37.22 | ​
Exercised as options for common shares |  | (4 611) | ​ | 37.11 |  | (13 158) | ​ | 37.69 | ​
Forfeited/expired |  | (1 031) | ​ | 41.77 |  | (5 055) | ​ | 38.99 | ​
Outstanding, end of year |  | 17 036 |  | 39.32 |  | 21 068 |  | 38.55 | ​
Exercisable, end of year |  | 14 300 |  | 39.61 |  | 16 407 |  | 40.19 | ​
​
Schedule of exercise price ranges and weighted average remaining contractual lives | For the options outstanding at December 31, 2023, the exercise price ranges and weighted average remaining contractual lives are shown below:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Outstanding | ​ | Exercisable |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted | ​ | ​ | ​ | ​ |  | ​ |
​ | ​ | ​ | ​ | Average | ​ | Weighted | ​ | ​ | ​ | Weighted |
​ | ​ | ​ | ​ | Remaining | ​ | Average | ​ | ​ | ​ | Average |
​ | ​ | Number | ​ | Contractual Life | ​ | Exercise | ​ | Number | ​ | Exercise |
Exercise Prices ($) | ​ | (thousands) | ​ | (years) | ​ | Price ($) | ​ | (thousands) | ​ | Price ($) |
22.63-24.99 |  | 1 980 | ​ | 3 | ​ | 22.65 | ​ | 1 422 | ​ | 22.66 | ​
25.00-29.99 | ​ | 4 | ​ | 4 | ​ | 28.86 | ​ | 1 | ​ | 27.21 | ​
30.00-34.99 | ​ | 19 | ​ | 4 | ​ | 31.26 | ​ | 16 | ​ | 31.09 | ​
35.00-39.99 |  | 5 414 | ​ | 3 | ​ | 38.35 | ​ | 4 429 | ​ | 38.59 | ​
40.00-44.99 |  | 8 239 | ​ | 1 | ​ | 42.83 | ​ | 8 117 | ​ | 42.83 | ​
45.00-49.99 |  | 1 291 | ​ | 5 | ​ | 45.76 | ​ | 231 | ​ | 46.26 | ​
50.00-54.27 |  | 89 | ​ | 2 | ​ | 52.79 | ​ | 84 | ​ | 52.84 | ​
Total |  | 17 036 | ​ | 3 | ​ | 39.32 | ​ | 14 300 |  | 39.61 | ​
Summary of common shares available for granting future options | Common shares authorized for issuance by the Board of Directors that remain available for the granting of future options:
​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | 2023 |  | 2022 |
​ |  | 27 322 |  | 27 901 | ​
​
Share Units |
Share Based Compensation |
Summary of activity of equity awards | The following table presents a summary of the activity related to Suncor’s share unit plans:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | PSU |  | RSU |  | DSU |
Outstanding, December 31, 2021 |  | 2 766 |  | 21 437 |  | 1 382 | ​
Granted |  | 947 | ​ | 13 235 | ​ | 187 | ​
Redeemed for cash |  | (794) | ​ | (4 533) | ​ | (238) | ​
Forfeited/expired |  | (710) | ​ | (1 877) | ​ | - | ​
Outstanding, December 31, 2022 |  | 2 209 |  | 28 262 |  | 1 331 | ​
Granted |  | 814 | ​ | 9 006 | ​ | 299 | ​
Redeemed for cash |  | (436) | ​ | (7 582) | ​ | (461) | ​
Forfeited/expired |  | (273) | ​ | (3 156) | ​ | - | ​
Outstanding, December 31, 2023 |  | 2 314 |  | 26 530 |  | 1 169 | ​
​
Stock Appreciation Rights (SARs) |
Share Based Compensation |
Summary of activity of equity awards | SARs have a seven-year life and vest annually over a three-year period.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ |  | Weighted |
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average |
​ | ​ | Number | ​ | Exercise Price | ​ | Number | ​ | Exercise Price |
​ | ​ | (thousands) | ​ | ($) | ​ | (thousands) | ​ | ($) |
Outstanding, beginning of year |  | 287 |  | 39.95 |  | 463 |  | 39.06 | ​
Granted |  | 20 | ​ | 42.96 |  | 10 | ​ | 36.76 | ​
Exercised |  | (128) | ​ | 38.17 |  | (121) | ​ | 37.18 | ​
Forfeited/expired |  | (3) | ​ | 45.57 |  | (65) | ​ | 38.25 | ​
Outstanding, end of year |  | 176 |  | 41.48 |  | 287 |  | 39.95 | ​
Exercisable, end of year |  | 156 | ​ | 41.48 |  | 242 | ​ | 40.82 | ​
​

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