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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2018
Summary of option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Awards Plans

 

Director Stock Option Plans

 

 

    

 

 

    

Weighted Average

    

 

    

Weighted Average

 

 

 

 

Options

 

Exercise Price

 

Options

 

Exercise Price

 

Outstanding, January 1, 2018

 

 

8,059,319

 

$

61.67

 

214,967

 

$

57.44

 

Granted

 

 

603,901

 

 

88.39

 

 —

 

 

 —

 

Exercised

 

 

(1,631,218)

 

 

52.35

 

(59,767)

 

 

55.64

 

Forfeited or expired

 

 

(270,947)

 

 

75.12

 

 

 

 —

 

Outstanding at December 31, 2018

 

 

6,761,055

 

$

65.76

 

155,200

 

$

58.13

 

Exercisable at December 31, 2018

 

 

4,922,937

 

$

61.08

 

155,200

 

$

58.13

 

Weighted-Average Remaining Contractual Term (Years):

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

5.9

 

 

 

 

4.1

 

 

 

 

Exercisable at December 31, 2018

 

 

5.0

 

 

 

 

4.1

 

 

 

 

Aggregate Intrinsic Value:

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

$

191,374

 

 

 

$

5,577

 

 

 

 

Exercisable at December 31, 2018

 

$

162,424

 

 

 

$

5,577

 

 

 

 

Intrinsic Value of Options Exercised During the Years Ended:

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

$

72,951

 

 

 

$

2,286

 

 

 

 

December 31, 2017

 

$

51,140

 

 

 

$

1,995

 

 

 

 

December 31, 2016

 

$

44,972

 

 

 

$

548

 

 

 

 

 

Weighted-average assumptions used to estimate fair value of restricted stock units

 

 

 

 

 

Year Ended December 31,

 

 

2018

 

Fair value per stock award

 

$

128.70

 

Grant date stock price

 

$

89.42

 

Assumptions:

 

 

 

 

Aptar's stock price expected volatility

 

 

12.30

%

Expected average volatility of peer companies

 

 

27.50

%

Correlation assumption

 

 

20.20

%

Risk-free interest rate

 

 

2.42

%

Dividend yield assumption

 

 

1.43

%

 

Summary of restricted stock unit activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time-Based RSUs

 

Performance-Based RSUs

 

 

 

    

    

Weighted Average

    

 

    

Weighted Average

 

 

 

Units

 

Grant-Date Fair Value

 

Units

 

Grant-Date Fair Value

 

Nonvested at January 1,  2018

 

124,067

 

$

74.65

 

 —

 

$

 —

 

Granted

 

208,783

 

 

96.79

 

80,843

 

 

111.55

 

Vested

 

(39,691)

 

 

75.09

 

 —

 

 

 —

 

Forfeited

 

(31,672)

 

 

78.62

 

(10,853)

 

 

111.55

 

Nonvested at December 31, 2018

 

261,487

 

$

91.78

 

69,990

 

$

111.55

 

 

Stock Awards Plans  
Weighted-average assumptions used to estimate fair value of stock options granted

 

 

 

 

 

 

 

 

Stock Awards Plans:

    

 

 

 

 

 

 

Years Ended December 31,

 

2018

    

2017

    

2016

 

Dividend Yield

 

1.5

%  

1.7

%

1.8

%  

Expected Stock Price Volatility

 

14.2

%  

15.8

%

16.9

%  

Risk-free Interest Rate

 

2.8

%  

2.2

%

1.6

%  

Expected Life of Option (years)

 

6.6

 

6.7

 

6.7