SHARE-BASED COMPENSATION PROGRAMS (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Compensation costs for Years Ended December 31, 2021, 2020 and 2019 for share-based payment arrangements as further described herein are as follows:


	Year Ended December 31,
	2021		2020		2019
	(in millions)
Performance Shares	$	12	$	13	$	10
Stock Options	—		5		3

Restricted Stock Unit Awards	27		18		15

Total Compensation Expenses	$	39	$	36	$	28
Income Tax Benefit	8		7		10

Summary Of Stock Option Activity

A summary of activity in the AXA and Holdings option plans during 2021 as follows:


	Options Outstanding
	EQH Shares			AXA Ordinary Shares
	Number Outstanding (In 000’s)	Weighted Average Exercise Price		Number Outstanding (In 000’s)	Weighted Average Exercise Price
Options Outstanding at January 1, 2021	2,819	$	21.12	1,417	€ 20.09
Options granted	—	12.26		—	—
Options exercised	(1,005)	20.51		(601)	19.50
Options forfeited, net	(150)	21.88		(86)	22.59
Options expired	—	—		—	—
Options Outstanding at December 31, 2021	1,664	$	21.66	730	€ 22.44
Aggregate intrinsic value (1)		$	5,186		(€ 2,011)
Weighted average remaining contractual term (in years)	7.7			4.69
Options Exercisable at December 31, 2021	690	$	—	633	€	22.44
Aggregate intrinsic value (1)		$	2,227		(€ 1,744)
Weighted average remaining contractual term (in years)	7.55			4.52

____________

(1)Aggregate intrinsic value, presented in thousands, is calculated as the excess of the closing market price on December 31, 2021 of the respective underlying shares over the strike prices of the option awards. For awards with strike prices higher than market prices, intrinsic value is shown as zero.

Schedule Of Share-based Payment Award, Valuation Assumptions

A summary of stock option grant assumptions activity in the AXA and Holdings option plans during 2021, 2020, and 2019 follows:


	EQH Shares (1)
	2021 (2)		2020		2019
Dividend yield	—%		2.59%		2.77%
Expected volatility	—%		26.00%		25.70%
Risk-free interest rates	—%		1.19%		2.49%
Expected life in years	—		6.0		5.8
Weighted average fair value per option at grant date	$	—	$	4.37	$	3.82

____________

(1)The expected volatility is based on historical selected peer data, the weighted average expected term is determined by using the simplified method due to lack of sufficient historical data, the expected dividend yield based on Holdings’ expected annualized dividend, and the risk-free interest rate is based on the U.S. Treasury bond yield for the appropriate expected term.

(2) No stock options granted during 2021.

Schedule Of Share-based Compensation, Restricted Stock Units Award Activity

The following table summarizes Holdings restricted share units and AXA ordinary share unit activity for 2021.


	Shares of Holdings Restricted Stock	Weighted Average Grant Date Fair Value
Unvested as of January 1, 2021	2,053,036	$	21.15
Granted	1,557,437	$	28.08
Forfeited	(166,466)	$	24.81
Vested	(1,052,916)	$	20.74
Unvested as of December 31, 2021	2,391,091	$	25.59

Schedule Of Share-based Compensation, Performance Award Activity

The following table summarizes Holdings and AXA performance awards activity for 2021.


	Shares of Holdings Performance Awards	Weighted-Average Grant Date Fair Value		Shares of AXA Performance Awards	Weighted-Average Grant Date Fair Value
Unvested as of January 1, 2021	557,455	$	22.12	1,017,254	$	21.28
Granted	938,444	$	29.89	(460,094)	$	21.28
Forfeited	(163,708)	$	28.24	—	$	—
Vested	(141,597)	$	23.17	(504,315)	$	21.28
Unvested as of December 31, 2021	1,190,594	$	28.54	52,845	$	21.28