XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Share-based Incentive Compensation Plans | 6 Months Ended
--- | ---
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based Incentive Compensation Plans | Share-based Incentive Compensation Plans The Company previously offered equity-based compensation awards to its employees and non-employee directors under various employee and non-employee incentive plans (together, the "Omnibus Plans"). On May 23, 2024, the Company's shareholders approved the Voya Financial, Inc. 2024 Omnibus Incentive Plan (the "2024 Omnibus Plan"), which is a successor to the Omnibus Plans, and no further grants shall be made pursuant to the Omnibus Plans. The 2024 Omnibus Plan provides for 8,000,000 shares of common stock to be initially available for issuance as equity-based compensation awards, less one share for every one share granted under the Omnibus Plans after December 31, 2023 and prior to the effective date of the 2024 Omnibus Plan. As of June 30, 2024, common stock reserved and available for issuance under the 2024 Omnibus Plan was 6,911,880 shares. Compensation Cost The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans for the periods indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Restricted Stock Unit (RSU) awards | $ | 13 |  |  | $ | 16 |  |  | $ | 36 |  |  | $ | 53 |
Performance Stock Unit (PSU) awards | 10 |  |  | 10 |  |  | 26 |  |  | 36 |
Total share-based compensation expense | 23 |  |  | 26 |  |  | 62 |  |  | 89 |
Income tax benefit | 6 |  |  | 7 |  |  | 16 |  |  | 22 |
After-tax share-based compensation expense | $ | 17 |  |  | $ | 19 |  |  | $ | 46 |  |  | $ | 67 |
Awards Outstanding The following table summarizes RSU and PSU awards activity under the Omnibus Plans for the periods indicated:
| RSU Awards |  |  |  | PSU Awards |  |
(awards in millions) | Number of Awards |  | Weighted Average Grant Date Fair Value |  |  |  |  |  | Number of Awards |  | Weighted Average Grant Date Fair Value |  |  |  |
Outstanding as of January 1, 2024 | 2.0 |  |  | $ | 67.06 |  |  |  |  |  |  | 2.2 |  |  | $ | 61.17 |  |  |  |  |
Adjustment for PSU performance factor | — |  |  | — |  |  |  |  |  |  | (0.1) |  |  | 46.94 |  |  |  |  |
Granted | 0.8 |  |  | 67.64 |  |  |  |  |  |  | 0.7 |  |  | 59.21 |  |  |  |  |
Vested | (0.8) |  |  | 64.87 |  |  |  |  |  |  | (0.6) |  |  | 53.55 |  |  |  |  |
Forfeited | — |  | * | 69.40 |  |  |  |  |  |  | — |  | * | 70.34 |  |  |  |  |
Outstanding as of June 30, 2024 | 2.0 |  |  | $ | 68.02 |  |  |  |  |  |  | 2.2 |  |  | $ | 63.44 |  |  |  |  |
*Less than 0.1 The following table summarizes the number of options under the Omnibus Plans for the periods indicated:
| Stock Options |  |  |  |
(awards in millions) | Number of Awards |  | Weighted Average Exercise Price |  |  |  |
Outstanding as of January 1, 2024 | 1.2 |  |  | $ | 44.79 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (0.2) |  |  | 43.18 |  |  |  |  |
Forfeited | — |  |  | 50.03 |  |  |  |  |
Outstanding as of June 30, 2024 | 1.0 |  |  | $ | 45.11 |  |  |  |  |
Vested, exercisable, as of June 30, 2024 | 1.0 |  |  | $ | 45.11 |  |  |  |  |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration