Stock-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2015

The following table summarizes the transactions of the Company’s stock option plans for the nine months ended September 30, 2015:


	Number of Options			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2014		728,640		$	19.55
Granted - at discount		69,217		$	0.00	$	37.55
- at market value		23,550		$	43.95	$	9.89
Exercised		(132,614	)	$	7.48
Forfeited		(4,431	)	$	14.63
Expired		(20,552	)		0.00

Outstanding at September 30, 2015		663,810		$	20.30

The following table summarizes the transactions of the Company’s SEUs for the nine months ended September 30, 2015:


	Number of SEUs			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2014		286,563		$	3.41
Granted - at discount		69,280		$	0.00	$	36.65
- at market value		7,552		$	43.95	$	9.89
Exercised		(93,840	)	$	2.01
Forfeited		(1,495	)	$	29.56

Outstanding at September 30, 2015		268,060		$	4.01

The fair values at each of the balance sheet dates are summarized as follows:


(in millions)	2015		2014
Balance at January 1	$	0.1	$	0.0
Compensation charge for the period		0.4		0.1

Balance at September 30	$	0.5	$	0.1

The following assumptions were used in the Monte Carlo model at September 30:


	2015			2014
Dividend yield		1.25	%		1.45	%
Volatility of Innospec’s share price		24.47	%		28.96	%
Risk free interest rate		0.92	%		1.07	%