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Share Plans | 3 Months Ended
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Mar. 28, 2021
Share-based Payment Arrangement [Abstract] |
Share Plans | Share Plans Total share-based compensation expense for the quarters ended March 28, 2021, and March 29, 2020, was as follows:
|  | First Quarter |
| In millions | 2021 |  | 2020 |  |  |
| Total share-based compensation charges | $ | 0.5 |  |  | $ | 0.5 |  |  |  |
In March 2021, 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 110,000 and the weighted average fair value of options granted in 2021 was estimated to be $21.14 per share. Also in March 2021, approximately 45,000 awards were granted based on the achievement of total shareholder return targets from the period January 1, 2018 to December 31, 2020. The awards vested immediately upon grant. The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2021 and the year-ended December 31, 2020:
|  | First Quarter |  | Year ended December 31, |
|  | 2021 |  | 2020 |
| Dividend yield (%) | 3.39 - 4.09 |  | 3.39 - 4.09 |
| Expected volatility range (%) | 36.48 - 56.28 |  | 36.48 - 56.28 |
| Risk-free interest rate (%) | 0.18 - 0.49 |  | 0.18 - 0.49 |
| Expected life of share options range (years) | 0.50 - 4.00 |  | 0.50 - 4.00 |
| Forfeiture rate (%) | 5.00 |  | 5.00 |
| Weighted average exercise price ($) | $1.00 |  | $1.00 |
| Models used | Black-Scholes |  | 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.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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