Share-Based Compensation Plans

3 Months Ended

Mar. 31, 2016

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

Share-Based Compensation Plans — The Northern Trust Corporation 2012 Stock Plan provides for the grant of nonqualified stock options, incentive stock options, stock appreciation rights, stock awards, restricted stock units and performance stock units.

In the first quarter of 2016, the Corporation granted 633,224 non-qualified stock options with a total grant-date fair value of $9.5 million, 1,190,617 stock unit awards with a total grant-date fair value of $69.4 million, and 354,606 performance stock units with a total grant-date fair value of $20.7 million. Stock unit award compensation expense for the three months ended March 31, 2016 and 2015 included $2.0 million and $1.5 million, respectively, attributable to restricted stock units which vested in full and were expensed in their entirety upon their date of grant. Compensation expense for the three months ended March 31, 2016 and 2015 included $5.5 million and $4.3 million, respectively, attributable to stock options granted to retirement-eligible employees that were expensed in their entirety on the date of grant.

Total compensation expense for share-based payment arrangements and the associated tax impacts were as follows for the three months ended March 31, 2016 and 2015.

Table 50: Total Compensation Expense for Share-Based Payment Arrangements



	Three Months Ended March 31,
(In Millions)	2016		2015
Restricted Stock Unit Awards	$	15.3	$	13.5
Stock Options	6.4		6.0
Performance Stock Units	4.1		3.4
Total Share-Based Compensation Expense	25.8		22.9
Tax Benefits Recognized	$	9.7	$	8.6

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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