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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
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.
Year Ended December 31, | 2024 |  | 2023 | (1) | 2022
Fair value per stock award | $ | 145.79 |  |  | $ | 116.17 |  |  | $ | 141.95 |
Grant date stock price | $ | 141.00 |  |  | $ | 111.38 |  |  | $ | 114.52 |
Assumptions: |  |  |  |  |
Aptar's stock price expected volatility | 18.80 | % |  | 20.00 | % |  | 20.20 | %
Expected average volatility of peer companies | 34.80 | % |  | 39.70 | % |  | 41.70 | %
Correlation assumption | 30.70 | % |  | 33.30 | % |  | 41.20 | %
Risk-free interest rate | 4.51 | % |  | 3.83 | % |  | 2.04 | %
Dividend yield assumption | 1.16 | % |  | 1.36 | % |  | 1.33 | %
(1)The 2023 award inputs and assumptions are related to PSU-ROIC awards with a TSR modifier.
Summary of restricted stock unit activity | A summary of RSU activity as of December 31, 2024, and changes during the period then ended is presented below:
| Time-Based RSUs |  | Performance-Based RSUs
| Units |  | Weighted Average Grant-Date Fair Value |  | Units |  | Weighted Average Grant-Date Fair Value
Nonvested at January 1, 2024 | 335,874 |  | $ | 115.15 |  |  | 514,383 |  | $ | 130.10 |
Granted | 130,098 |  | 138.24 |  |  | 129,614 |  | 145.79 |
Vested | (184,631) |  | 119.11 |  |  | (97,686) |  | 162.24 |
Forfeited | (4,096) |  | 119.31 |  |  | (33,085) |  | 142.78 |
Nonvested at December 31, 2024 | 277,245 |  | $ | 123.28 |  |  | 513,226 |  | $ | 127.17 |
Schedule of compensation expense, fair value, and intrinsic value related to RSU's |
Year Ended December 31, | 2024 |  | 2023 |  | 2022
Compensation expense | $ | 40,581 |  |  | $ | 37,015 |  |  | $ | 40,937 |
Fair value of units vested | 36,313 |  |  | 29,100 |  |  | 32,013 |
Intrinsic value of units vested | 40,083 |  |  | 33,914 |  |  | 33,024 |
Schedule of share-based payment award, stock options, valuation assumptions | These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Stock Award Plans: |  |  |  |  |
Year Ended December 31, | 2024 |  | 2023 |  |
Dividend Yield | 1.28 | % |  | 1.41 | % |  |
Expected Stock Price Volatility | 17.03 | % |  | 16.55 | % |  |
Risk-free Interest Rate | 4.51 | % |  | 3.57 | % |  |
Expected Life of Option (years) | 7.0 |  | 7.0 |  |
Summary of option activity | A summary of option activity under our stock plans as of December 31, 2024, and changes during the period then ended is presented below:
| Stock Awards Plans |  | Director Stock Option Plans
| Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
Outstanding, January 1, 2024 | 2,182,784 |  |  | $ | 80.63 |  |  | 19,000 |  |  | $ | 66.59 |
Granted | 249,805 |  |  | 141.00 |  |  | — |  |  | — |
Exercised | (750,771) |  |  | 71.62 |  |  | (19,000) |  |  | 66.59 |
Forfeited or expired | (18,511) |  |  | 87.66 |  |  | — |  |  | — |
Outstanding at December 31, 2024 | 1,663,307 |  |  | $ | 93.69 |  |  | — |  |  | $ | — |
Exercisable at December 31, 2024 | 1,211,208 |  |  | $ | 80.20 |  |  | — |  |  | $ | — |
Weighted-Average Remaining Contractual Term (Years): |  |  |  |  |  |  |
Outstanding at December 31, 2024 | 4.2 |  |  |  | 0.0 |  |
Exercisable at December 31, 2024 | 2.5 |  |  |  | 0.0 |  |
Aggregate Intrinsic Value: |  |  |  |  |  |  |
Outstanding at December 31, 2024 | $ | 105,470 |  |  |  |  | $ | — |  |  |
Exercisable at December 31, 2024 | $ | 93,145 |  |  |  |  | $ | — |  |  |
Intrinsic Value of Options Exercised During the Years Ended: |  |  |  |  |  |  |
December 31, 2024 | $ | 57,259 |  |  |  |  | $ | 1,394 |  |  |
December 31, 2023 | $ | 38,706 |  |  |  |  | $ | 1,978 |  |  |
December 31, 2022 | $ | 20,608 |  |  |  |  | $ | — |  |  |
Schedule of compensation expense, and fair value related to options |
Year Ended December 31, | 2024 |  | 2023 |  | 2022
Compensation expense (included in SG&A) | $ | 6,381 |  |  | $ | 3,929 |  |  | $ | — |
Compensation expense (included in Cost of sales) | 688 |  |  | 349 |  |  | — |
Compensation expense, Total | $ | 7,069 |  |  | $ | 4,278 |  |  | $ | — |
Compensation expense, net of tax | 6,880 |  |  | 4,278 |  |  | — |
Grant date fair value of options vested | 2,320 |  |  | 2,663 |  |  | — |

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