XML 33 R21.htm IDEA: XBRL DOCUMENT v3.22.2
Share-Based Compensation
6 Months Ended
Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation

Note 13 – Share-Based Compensation

The following table summarizes the costs associated with the Company’s share-based compensation plans:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

(in millions)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs

 

$

7

 

 

$

7

 

 

$

48

 

 

$

36

 

Employee stock purchase plan

 

 

2

 

 

 

2

 

 

 

4

 

 

 

4

 

 

 

$

9

 

 

$

9

 

 

$

52

 

 

$

40

 

 

The following table summarizes RSU activity for the six months ended June 30, 2022:

(in millions, except weighted-average grant-date fair value)

 

Shares

 

 

Weighted-average

grant-date

fair value

 

Unvested at December 31, 2021

 

0.9

 

 

$

58.11

 

Granted during 2022

 

1.0

 

 

$

68.32

 

Vested during 2022

 

(0.9

)

 

$

63.94

 

Unvested at June 30, 2022

 

1.0

 

 

$

63.01

 

 

In March 2022, the Company’s board of directors amended the First American Financial Corporation 2010 Employee Stock Purchase Plan (the “Amended ESPP”), effective July 1, 2022.  The Amended ESPP increases the maximum number of shares of Company common stock available for sale from 5 million to 14 million.  In addition, the Amended ESPP extends the term of the plan from July 1, 2023 to July 1, 2032.