The following table summarizes the status of, and changes in, our stock options during the nine months ended September 30, 2025:


	Options	Weighted- average exercise price
Outstanding at December 31, 2024	661,377	$	73.76
Exercised	(642,149)	$	73.89
Expired	(1,560)	$	79.71
Outstanding and exercisable at September 30, 2025	17,668	$	68.49

The following table summarizes the status of, and changes in, our nonvested restricted stock units during the nine months ended September 30, 2025:


	Restricted stock units	Weighted-average fair value
Nonvested at December 31, 2024	6,001,579	$	124.73
Time-based grants	29,447	$	100.45


Vested	(33,281)	$	126.38
Forfeited	(283,954)	$	126.82
Nonvested at September 30, 2025	5,713,791	$	124.49

Nonvested at September 30, 2025 includes performance-based restricted stock units of 359,941. These nonvested performance-based restricted stock units include 102,345 units for which the performance period has lapsed, and the performance threshold has been met.

The following table presents the compensation expense to be recognized over the remaining vesting periods of the stock-based awards outstanding at September 30, 2025. Estimated future compensation expense will change to reflect future grants of restricted stock awards and units, future option grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures.


(in millions)



Fourth quarter 2025	$	42.9
2026	96.3
2027 through 2030	64.9
Total	$	204.1

Below is a roll forward of the restricted fund units liability, which is reported in deferred compensation liabilities on the unaudited consolidated balance sheet.


(in millions)
Balance at December 31, 2024	$	14.7
Amortization of grant date value	32.8
Amortization of market appreciation (depreciation)	5.8


Balance at September 30, 2025	$	53.3

The following table presents the compensation expense to be recognized over the remaining vesting periods of the restricted fund units outstanding at September 30, 2025. Estimated future compensation expense will change to reflect future grants, changes in the market value of the restricted fund units, which is based on selected hypothetical investments, and adjustments for actual forfeitures. The grants outstanding will vest by 2029.