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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Weighted-average assumptions used to estimate fair value of restricted stock units Inputs and assumptions used to calculate the fair value are shown in the table below. The fair value of these RSUs is expensed over the vesting period using the straight-line method or using the graded vesting method when an employee becomes eligible to retain the award at retirement.
Nine Months Ended September 30,20202019
Fair value per stock award$94.98 $134.97 
Grant date stock price$83.93 $104.51 
Assumptions:
Aptar's stock price expected volatility23.80 %16.50 %
Expected average volatility of peer companies48.50 %31.90 %
Correlation assumption63.50 %37.40 %
Risk-free interest rate0.31 %2.19 %
Dividend yield assumption1.72 %1.30 %
Summary of restricted stock unit activity
A summary of RSU activity as of September 30, 2020 and changes during the nine month period then ended is presented below:
Time-Based RSUsPerformance-Based RSUs
UnitsWeighted Average
Grant-Date Fair Value
UnitsWeighted Average
Grant-Date Fair Value
Nonvested at January 1, 2020480,729 $95.45 181,680 $117.26 
Granted232,802 86.05 417,313 93.08 
Vested(130,654)85.62   
Forfeited(5,692)99.08 (6,714)108.10 
Nonvested at September 30, 2020577,185 $92.33 592,279 $100.29 
Summary of option activity
Stock Awards PlansDirector Stock Option Plans
OptionsWeighted Average
Exercise Price
OptionsWeighted Average
Exercise Price
Outstanding, January 1, 20205,044,180 $68.32 135,251 $58.45 
Granted    
Exercised(785,478)59.98 (34,151)51.75 
Forfeited or expired(14,200)76.07   
Outstanding at September 30, 20204,244,502 $69.91 101,100 $60.71 
Exercisable at September 30, 20204,089,846 $69.11 101,100 $60.71 
Weighted-Average Remaining Contractual Term (Years):
Outstanding at September 30, 20204.92.9
Exercisable at September 30, 20204.82.9
Aggregate Intrinsic Value:
Outstanding at September 30, 2020$183,753 $5,306 
Exercisable at September 30, 2020$179,771 $5,306 
Intrinsic Value of Options Exercised During the Nine Months Ended:
September 30, 2020$44,086 $2,183 
September 30, 2019$76,797 $722