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Share-Based Compensation

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Note 13 – Share-Based Compensation

The following table summarizes the costs associated with the Company’s share-based compensation plans:

	Three Months Ended March 31,
(in millions)	2022		2021
Expense:
RSUs	$	41	$	29
Employee stock purchase plan		2		2
	$	43	$	31

The following table summarizes RSU activity for the three months ended March 31, 2022:

(in millions, except weighted-average grant-date fair value)	Shares		Weighted-average grant-date fair value
Unvested at December 31, 2021	0.9		$	58.11
Granted during 2022	0.9		$	68.94
Vested during 2022	(0.9	)	$	64.23
Unvested at March 31, 2022	0.9		$	63.12

In March 2022, the Company’s board of directors amended the First American Financial Corporation 2010 Employee Stock Purchase Plan (the “Amended ESPP”), effective July 1, 2022. The Amended ESPP, which is subject to stockholder approval, increases the maximum number of shares of Company common stock that will be made available for sale from 5.0 million to 14.0 million. In addition, the Amended ESPP extends the term of the plan from July 1, 2023 to July 1, 2032.