Share Plans

Total share-based compensation expense for the second quarter and two-quarters ended June 30, 2019, and July 1, 2018, was as follows:



	Second Quarter				Year-to-date
In millions	2019		2018		2019		2018
Total share-based compensation charges	$	0.8	$	1.4	$	3.4	$	1.9

In March 2019, we issued our annual share-based compensation grants under the Luxfer Holdings PLC Long-Term Umbrella Incentive Plan. The total number of awards issued was approximately 200,000 and the weighted-average fair value of options granted in 2019 was estimated to be $17.70 per share.

In May 2019, we issued our annual share-based compensation grants under the Luxfer Holdings PLC Non-Executive Directors Equity Incentive Plan. The total number of awards issued was approximately 4,000 and the weighted-average fair value of options granted was estimated to be $15.00 per share.

The following table illustrates the assumptions used in deriving the fair value of share options granted during 2019 and the year-ended December 31, 2018,:



	2019	2018
Dividend yield (%)	4.00	4.00
Expected volatility range (%)	22.65	22.65 - 35.77
Risk-free interest rate (%)	0.12	0.12 - 2.57
Expected life of share options range (years)	1.00 - 4.00	0.50 - 6.00
Weighted average exercise price ($)	$0.89	$0.65
Model used	Black-Scholes & Monte-Carlo	Black-Scholes & Monte-Carlo

The expected life of the share options is based on historical data and current expectations, and is not necessarily indicative of exercise patterns that may occur. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.