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Stock-Based Compensation Plans
3 Months Ended
Mar. 31, 2022
Stock-Based Compensation Plans  
Stock-Based Compensation Plans

13. Stock-Based Compensation Plans

For the three months ended March 31, 2022 and 2021, the Company recognized stock-based compensation expense of $10.7 million and $10.8 million, respectively, resulting primarily from stock options, restricted stock units, and performance-based restricted stock units in the Condensed Consolidated Statements of Income.

During the three months ended March 31, 2022, the Company granted 0.6 million options at a weighted-average exercise price of $18.62 and 3.1 million performance-based restricted stock units and restricted stock units at a weighted-average grant date fair value of $20.34. As of March 31, 2022, the Company had 7.0 million outstanding options at a weighted-average exercise price of $19.03, of which 3.6 million options were exercisable at a weighted-average exercise price of $19.10. The Company had 7.7 million outstanding performance-based restricted stock units (based on target performance) and restricted stock units at a weighted-average grant date fair value of $21.75 as of March 31, 2022.