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Share-Based Compensation Plans
 3 Months Ended
Mar. 31, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Plans
NOTE 13 – SHARE-BASED COMPENSATION PLANS
The compensation cost recorded for stock options for the first three months of 2022 and 2021 was $1.7 million and $1.6 million, respectively. The compensation cost recorded for stock equivalent units for the first three months of 2022 and 2021 was $7.1 million and $4.4 million, respectively.
The following table summarizes the transactions of the Company’s share-based compensation plans for the three months ended March 31, 2022.
 
    
Number of

shares
     
Weighted

Average

Grant-Date

Fair Value
  
Nonvested at December 31, 2021
      680,711      $ 74.6  
Granted
      164,205      $ 87.5  
Vested
      (68,931 )     $ 61.8  
Forfeited
      (56,762 )     $ 70.9  
    
 
 
     
 
 
  
Nonvested at March 31, 2022
      719,223      $ 79.0  
    
 
 
     
 
 
  
New grants in the quarter have similar vesting conditions to those granted in previous periods. The valuation methodologies of the new grants are consistent with previous periods.
As of March 31, 2022, there was $33.2 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.96 years.