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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Weighted Average Assumptions of Stock Options

The following table sets forth the weighted-average assumptions used at the respective grant dates to determine the fair values of the Company’s stock option awards granted during the years ended December 31, 2020, 2019, and 2018.

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Risk-free interest rate

 

 

0.94

%

 

 

2.53

%

 

 

2.65

%

Expected term (years)

 

 

6.00

 

 

 

6.00

 

 

 

6.00

 

Volatility

 

 

53.18

%

 

 

48.05

%

 

 

47.56

%

Dividend yield

 

 

6.93

%

 

 

2.81

%

 

 

1.42

%

Fair value per stock option

 

$

3.74

 

 

$

13.66

 

 

$

20.47

 

 

Schedule of Stock Options Activity

The following table sets forth Chemours’ stock option activity for the years ended December 31, 2020, 2019, and 2018.

 

 

 

Number of

Shares

(in Thousands)

 

 

Weighted-average Exercise Price

(per Share)

 

 

Weighted-average

Remaining Contractual Term (in Years)

 

 

Aggregate

Intrinsic Value

(in Thousands)

 

Outstanding, December 31, 2017

 

 

6,597

 

 

$

15.72

 

 

 

5.11

 

 

$

226,524

 

Granted

 

 

495

 

 

 

48.41

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,073

)

 

 

14.69

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(46

)

 

 

37.77

 

 

 

 

 

 

 

 

 

Expired

 

 

(3

)

 

 

18.80

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2018

 

 

5,970

 

 

$

18.45

 

 

 

4.80

 

 

$

72,108

 

Granted

 

 

836

 

 

 

36.48

 

 

 

 

 

 

 

 

 

Exercised

 

 

(590

)

 

 

14.56

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(110

)

 

 

39.06

 

 

 

 

 

 

 

 

 

Expired

 

 

(50

)

 

 

22.12

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2019

 

 

6,056

 

 

$

20.92

 

 

 

4.71

 

 

$

19,087

 

Granted

 

 

2,778

 

 

 

14.42

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1,124

)

 

 

14.23

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(186

)

 

 

23.84

 

 

 

 

 

 

 

 

 

Expired

 

 

(165

)

 

 

29.99

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2020

 

 

7,359

 

 

$

19.21

 

 

 

6.21

 

 

$

63,894

 

Exercisable, December 31, 2020

 

 

4,050

 

 

$

19.38

 

 

 

4.00

 

 

$

35,958

 

 

Schedule of Restricted Stock Units Activity

The following table sets forth non-vested RSUs at December 31, 2020, 2019, and 2018.

 

 

 

Number of Shares

(in Thousands)

 

 

Weighted-average

Grant Date

Fair Value

(per Share)

 

Non-vested, December 31, 2017

 

 

1,165

 

 

$

15.34

 

Granted

 

 

135

 

 

 

48.35

 

Vested

 

 

(1,034

)

 

 

14.86

 

Forfeited

 

 

(19

)

 

 

30.94

 

Non-vested, December 31, 2018

 

 

247

 

 

$

34.22

 

Granted

 

 

439

 

 

 

26.89

 

Vested

 

 

(110

)

 

 

24.98

 

Forfeited

 

 

(30

)

 

 

33.90

 

Non-vested, December 31, 2019

 

 

546

 

 

$

29.95

 

Granted

 

 

585

 

 

 

17.01

 

Vested

 

 

(161

)

 

 

38.68

 

Forfeited

 

 

(60

)

 

 

25.78

 

Non-vested, December 31, 2020

 

 

910

 

 

$

20.51

 

 

Schedule of Performance Share Units Activity

 

The following table sets forth non-vested PSUs at 100% of target amounts at December 31, 2020, 2019, and 2018.

 

 

 

Number of Shares

(in Thousands)

 

 

Weighted-average

Grant Date

Fair Value

(per Share)

 

Non-vested, December 31, 2017

 

 

987

 

 

$

12.94

 

Granted

 

 

139

 

 

 

52.34

 

Vested

 

 

(19

)

 

 

24.16

 

Non-vested, December 31, 2018

 

 

1,107

 

 

$

17.71

 

Granted

 

 

240

 

 

 

44.38

 

Vested (1)

 

 

(761

)

 

 

5.07

 

Forfeited

 

 

(57

)

 

 

43.35

 

Non-vested, December 31, 2019

 

 

529

 

 

$

39.53

 

Granted

 

 

542

 

 

 

17.14

 

Vested

 

 

(176

)

 

 

35.84

 

Forfeited

 

 

(51

)

 

 

27.79

 

Non-vested, December 31, 2020

 

 

844

 

 

$

29.05

 

 

(1)

During the year ended December 31, 2019, approximately 1,520,000 PSUs granted in 2016 to the Company’s key senior management employees vested, based on the attainment of certain performance- and market-based conditions. Of the 1,520,000 PSUs that vested during the year ended December 31, 2019, approximately 680,000 non-issued shares were cancelled to cover the employee portion of income taxes related to such awards.