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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2022
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.
Six Months Ended June 30,20222021
Fair value per stock award$141.95 $171.63 
Grant date stock price$114.52 $141.59 
Assumptions:
Aptar's stock price expected volatility20.20 %21.40 %
Expected average volatility of peer companies41.70 %50.00 %
Correlation assumption41.20 %58.10 %
Risk-free interest rate2.04 %0.32 %
Dividend yield assumption1.33 %1.02 %
Summary of restricted stock unit activity
A summary of RSU activity as of June 30, 2022 and changes during the six 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, 2022485,479 $108.73 650,553 $111.04 
Granted187,429 112.76 225,303 126.72 
Vested(140,914)106.15 (43,388)134.97 
Forfeited(5,468)111.16 (74,224)112.07 
Nonvested at June 30, 2022526,526 $110.74 758,244 $114.23 
Schedule of compensation expense, fair value, and intrinsic value related to RSU's
Six Months Ended June 30,20222021
Compensation expense$22,136 $21,579 
Fair value of units vested19,724 20,778 
Intrinsic value of units vested21,481 28,259 
Summary of option activity A summary of option activity under our stock plans during the six months ended June 30, 2022 is presented below:
Stock Awards PlansDirector Stock Option Plans
OptionsWeighted Average
Exercise Price
OptionsWeighted Average
Exercise Price
Outstanding, January 1, 20223,072,503 $71.99 51,700 $63.91 
Exercised(168,846)67.60   
Forfeited or expired(400)51.80   
Outstanding at June 30, 20222,903,257 $72.25 51,700 $63.91 
Exercisable at June 30, 20222,903,257 $72.25 51,700 $63.91 
Weighted-Average Remaining Contractual Term (Years):
Outstanding at June 30, 20223.61.6
Exercisable at June 30, 20223.61.6
Aggregate Intrinsic Value:
Outstanding at June 30, 2022$90,420 $2,041 
Exercisable at June 30, 2022$90,420 $2,041 
Intrinsic Value of Options Exercised During the Six Months Ended:
June 30, 2022$8,046 $ 
June 30, 2021$63,407 $4,248 
Schedule of compensation expense, and fair value related to options
Six Months Ended June 30,2021
Compensation expense (included in SG&A)$185 
Compensation expense (included in Cost of sales)42 
Compensation expense, Total$227 
Compensation expense, net of tax174 
Grant date fair value of options vested2,421