The activity for stock options and stock units, including performance stock units granted to the Company's executive officers, from January 1, 2021 through December 31, 2021 was as follows:


	Stock options			Stock units
	Number of options	Weighted average exercise price		Number of units	Weighted average FMV per unit
Outstanding, January 1, 2021	1,026,808	$	26.64	4,544,063	$	10.36
Granted	—	—		919,170	35.21
Exercised	(251,919)	23.69		—	—
Converted(1)	—	—		(1,125,983)	12.84
Expired or forfeited	(183,983)	34.11		(197,177)	17.56
Performance share adjustment(2)	—	—		(226,736)	10.02
Outstanding, December 31, 2021	590,906	25.56		3,913,337	15.14

(1)The number of converted units includes 343,738 shares “withheld” to meet the Company’s statutory tax withholding requirements related to the income earned by the employees as a result of vesting in the units.

(2)In 2021, the Company adjusted the target payout of those performance stock awards granted in 2020. Since the grant date, these awards have been accounted for based on a payout at 100% of target. However, in 2021 the payout for these awards was estimated to be at 8.3% of target. Accordingly, the shares outstanding for these awards from grant date through the date of adjustment were adjusted to reflect the probable payout percentage.