Management Compensation Plans

General Plan Description

On April 19, 2018, the stockholders of the Company approved the 2018 GIP, effective April 23, 2018 (the "Effective Date"). Upon the Effective Date, no additional awards will be made under the 2009 Global Incentive Plan, as amended (the "2009 GIP"). The total number of shares of Common Stock for which awards may be granted under the 2018 GIP shall be (i) 2,500,000 new shares of Common Stock plus (ii) the number of shares of Common Stock available for future awards under the 2009 GIP as of the Effective Date, and (iii) the number of shares of Common Stock that are subject to outstanding equity awards under the 2009 GIP as of the Effective Date but may again become available for grants of awards under the 2018 GIP if an outstanding award under the 2009 GIP terminates by expiration, forfeiture, cancellation or otherwise without the issuance of such shares for awards not involving shares of Common Stock as provided in the 2018 GIP.

The 2018 GIP enables the compensation committee of the Board of Directors (and the Board of Directors as to non-management directors) to award incentive and nonqualified stock options, stock appreciation rights, shares of Common Stock, restricted stock awards, RSUs and incentive bonuses (which may be paid in cash or stock or a combination thereof), any of which may be performance-based, with vesting and other award provisions that provide effective incentive to Company employees (including officers), non-management directors and other service providers.

Total shares available for awards and total shares subject to outstanding awards are as follows:



	As of December 31, 2018
	Shares Available for Awards	Shares Subject to Outstanding Awards
2018 GIP	7,256,282	50,003
2009 GIP	—	1,995,089

Restricted Stock Units

A summary of changes in nonvested performance-based RSUs outstanding is as follows:



	Number of Units		Weighted Average Grant Date Fair Value
	(In thousands)		(In $)
As of December 31, 2017	860		64.71
Granted	227		94.54
Vested	(73	)	53.23
Canceled	(140	)	53.24
Forfeited	(62	)	75.43
As of December 31, 2018	812		75.25

The fair value of shares vested for performance-based RSUs is as follows:



	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Total	8	42	64

A summary of changes in nonvested time-based RSUs outstanding is as follows:



	Number of Units		Weighted Average Grant Date Fair Value
	(In thousands)		(In $)
As of December 31, 2017	351		75.75
Granted	283		93.62
Vested	(201	)	78.56
Forfeited	(47	)	81.44
As of December 31, 2018	386		86.69

The fair value of shares vested for time-based RSUs is as follows:



	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Total	21	12	4

The weighted average grant date fair value of RSUs granted is as follows:



	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Total	48	59	75

As of December 31, 2018, there was $62 million of unrecognized compensation cost related to RSUs, excluding actual forfeitures, which is expected to be recognized over a weighted average period of two years.

The Company realized income tax benefits from RSU vestings as follows:



	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Income tax benefit realized	7	9	7