Stock-Based Compensation Plans

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement, Noncash Expense [Abstract]

STOCK-BASED COMPENSATION PLANS

Stock-based compensation expense consists of the following:


(In millions)	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Stock options	$	8.5	$	—	$	17.0	$	—
Restricted stock units	0.6		(2.6)		1.2		(1.9)
Restricted stock	—		(8.3)		—		(7.9)
Total	$	9.1	$	(10.9)	$	18.2	$	(9.8)

From December 2020 through June 2021, we granted 770,500 stock options, subject to shareholder approval of an amendment to the Incentive Plan (“Shareholder Approval”). Under GAAP, if a stock award is subject to shareholder approval, it is not considered granted for accounting purposes until that approval is received. Shareholder Approval was received at our annual meeting of shareholders on July 21, 2021. Accordingly, the accounting grant date of the 770,500 previously-awarded stock options is July 21, 2021, and no expense was recognized for stock options prior to that date.

The reversal of stock-based compensation expense for the three and six months ended June 30, 2021 was primarily due to the forfeiture of unvested restricted stock and restricted stock units upon the retirement of our former Chief Executive Officer in May 2021, which resulted in an $11.5 million reversal of stock-based compensation expense.

We expect to recognize the future stock-based compensation expense as follows:


(in millions)
Year	Total Projected Stock-Based Compensation Expense
Remainder of 2022	$	18.2
2023	35.7
2024	34.9
2025	4.7
2026	0.5
Total	$	94.0