SHARE-BASED COMPENSATION PROGRAMS

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation Programs

SHARE-BASED COMPENSATION PROGRAMS

AXA and AXA Financial sponsor various share-based compensation plans for eligible employees and financial professionals of AXA Financial and its subsidiaries. AB also sponsors its own unit option plans for certain of its employees.

Compensation costs for the first quarters of 2018 and 2017 for share-based payment arrangements as further described herein are as follows:

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Performance Shares	$	2,598		$	3,402
Stock Options	(920		)	9
AB Restricted Units	12,484			7,700
Other compensation plans(1)	(119		)	65
Total Compensation Expenses	$	14,043		$	11,176

(1) Other compensation plans include Restricted Stock and Stock Appreciation Rights.

Performance Shares

Settlement of second tranche of the 2014 Grant in 2018. On March 26, 2018, share distributions totaling approximately $20 million were made to active and former AXA Equitable employees in settlement of 0.8 million performance shares earned under the terms of the second tranche of the AXA Performance Share Plan 2014.

AB Long-term Incentive Compensation Plans. During the first quarters of 2018 and 2017, AB purchased 0.1 million and 1.3 million Holding Units for $2 million and $31 million respectively (on a trade date basis). There were no open-market purchases during the first quarter of 2018. The first quarter 2017 amount reflects open-market purchases of 1.2 million Holding Units for $28 million, with the remainder relating to purchases of Holding Units from employees to allow them to fulfill statutory tax withholding requirements at the time of distribution of long-term incentive compensation awards.

During the first quarters of 2018 and 2017, AB granted to employees and eligible Directors 1.1 million and 1.1 million restricted Holding awards, respectively. In the first quarters of 2018 and 2017, AB used Holding Units repurchased during the period and newly issued Holding Units to fund the restricted Holding Unit awards.

During the first quarters of 2018 and 2017, AB Holding issued 0.2 million and 0.3 million AB Holding Units, respectively, upon exercise of options to buy AB Holding Units. AB Holding used the proceeds of $4 million and $5 million, respectively, received from employees as payment in cash for the exercise price to purchase the equivalent number of newly-issued AB Units.