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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2024
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.
Year Ended December 31,20242023(1)2022
Fair value per stock award$145.79 $116.17 $141.95 
Grant date stock price$141.00 $111.38 $114.52 
Assumptions:
Aptar's stock price expected volatility18.80 %20.00 %20.20 %
Expected average volatility of peer companies34.80 %39.70 %41.70 %
Correlation assumption30.70 %33.30 %41.20 %
Risk-free interest rate4.51 %3.83 %2.04 %
Dividend yield assumption1.16 %1.36 %1.33 %
(1)The 2023 award inputs and assumptions are related to PSU-ROIC awards with a TSR modifier.
Summary of restricted stock unit activity
A summary of RSU activity as of December 31, 2024, and changes during the 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, 2024
335,874$115.15 514,383$130.10 
Granted130,098138.24 129,614145.79 
Vested(184,631)119.11 (97,686)162.24 
Forfeited(4,096)119.31 (33,085)142.78 
Nonvested at December 31, 2024277,245$123.28 513,226$127.17 
Schedule of compensation expense, fair value, and intrinsic value related to RSU's
Year Ended December 31,202420232022
Compensation expense$40,581 $37,015 $40,937 
Fair value of units vested36,313 29,100 32,013 
Intrinsic value of units vested40,083 33,914 33,024 
Schedule of share-based payment award, stock options, valuation assumptions These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Stock Award Plans:
Year Ended December 31,20242023
Dividend Yield1.28 %1.41 %
Expected Stock Price Volatility17.03 %16.55 %
Risk-free Interest Rate4.51 %3.57 %
Expected Life of Option (years)7.07.0
Summary of option activity
A summary of option activity under our stock plans as of December 31, 2024, and changes during the period then ended is presented below:
Stock Awards PlansDirector Stock Option Plans
OptionsWeighted Average
Exercise Price
OptionsWeighted Average
Exercise Price
Outstanding, January 1, 2024
2,182,784 $80.63 19,000 $66.59 
Granted249,805 141.00   
Exercised(750,771)71.62 (19,000)66.59 
Forfeited or expired(18,511)87.66   
Outstanding at December 31, 20241,663,307 $93.69  $ 
Exercisable at December 31, 20241,211,208 $80.20  $ 
Weighted-Average Remaining Contractual Term (Years):
Outstanding at December 31, 20244.20.0
Exercisable at December 31, 20242.50.0
Aggregate Intrinsic Value:
Outstanding at December 31, 2024$105,470 $ 
Exercisable at December 31, 2024$93,145 $ 
Intrinsic Value of Options Exercised During the Years Ended:
December 31, 2024$57,259 $1,394 
December 31, 2023$38,706 $1,978 
December 31, 2022$20,608 $— 
Schedule of compensation expense, and fair value related to options
Year Ended December 31,202420232022
Compensation expense (included in SG&A)$6,381 $3,929 $— 
Compensation expense (included in Cost of sales)688 349 — 
Compensation expense, Total$7,069 $4,278 $— 
Compensation expense, net of tax6,880 4,278 — 
Grant date fair value of options vested2,320 2,663 —