Stock-Based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

The Company grants stock-based compensation awards as an incentive for employees and directors to contribute to the Company’s long-term success. The Company currently awards stock-settled stock appreciation rights, service-based and performance-based restricted stock units, and common stock equivalents. As of March 31, 2023, the Company had 1.9 million shares of its common stock, par value $0.0005 per share, (the “Common Stock”) available for stock-based compensation awards under its current Long-Term Incentive Plan as amended and restated in January 2019 (the “Plan”).

The tables below summarize the Company’s stock-based compensation expense by award type and expense category line item during the periods indicated (in millions).


	Three Months Ended
	March 31,
Award type	2023		2022
Stock appreciation rights	$	2.5	$	1.9
Restricted stock units	42.2		30.0
Common stock equivalents	0.3		0.2
Total (1)	$	45.0	$	32.1


	Three Months Ended
	March 31,
Expense category line item	2023		2022
Cost of services and product development	$	18.3	$	11.5
Selling, general and administrative	26.7		20.6
Total (1)	$	45.0	$	32.1

(1)Includes costs of $26.8 million and $19.2 million during the three months ended March 31, 2023 and 2022, respectively, for awards to retirement-eligible employees. Those awards vest on an accelerated basis.