Share Plans

3 Months Ended

Mar. 27, 2022

Share-based Payment Arrangement [Abstract]

Total share-based compensation expense for the quarters ended March 27, 2022, and March 28, 2021, was as follows:


	First Quarter
In millions	2022		2021



Total share-based compensation charges	$	0.2	$	0.5

In March 2022, 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 167,400, and the weighted average fair value of options granted in 2022 was estimated to be $17.82 per share.

Also in March 2022, approximately 17,000 awards were granted based on the achievement of total shareholder return targets from the period January 1, 2019, to December 31, 2021. 50% of these awards vested immediately upon grant, with the remaining 50% vesting in March 2023.

The following table illustrates the assumptions used in deriving the fair value of share options granted during the First Quarter of 2022 and the year-ended December 31, 2021:


	First Quarter	Year ended December 31,
	2022	2021
Dividend yield (%)	2.27	2.27
Expected volatility range (%)	42.80 - 59.03	42.80 - 59.03
Risk-free interest rate (%)	0.04 - 0.24	0.04 - 0.24
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 & 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.