XML 77 R51.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions Used in Options Pricing Model
The assumptions pertaining to options issued during 2016, 2015, and 2014 are shown in the following table.
 
Year ended December 31,
2016
2015
2014
Average option life
6.0 years

6.0 years

6.2 years

Future dividend yield
2.86
%
1.84
%
1.70
%
Historical share price volatility
.297

.382

.497

Weighted-average risk-free interest rate
1.3
%
1.7
%
1.9
%
Activity, Pricing and Other Information for Stock Options
The following table summarizes activity, pricing and other information for our stock options for the year ended December 31, 2016:
 
 
Number of
Options
Weighted-Average
Exercise Price Per
Option
Weighted-Average
Remaining Life
Aggregate
Intrinsic
Value(a)
Outstanding at December 31, 2015
15,066,448

$
18.04

3.8 years
$
39

Granted
2,565,489

10.49

 
 
First Niagara acquisition (b)
2,661,118

13.70

 
 
Exercised
(2,849,010
)
11.14

 
 
Lapsed or canceled
(3,558,479
)
34.56

 
 
Outstanding at December 31, 2016
13,885,566

$
13.00

4.5 years
101

 
 
 
 
 
Expected to vest
3,169,239

11.26

8.6 years
22

Exercisable at December 31, 2016
10,296,733

$
13.61

3.1 years
$
76


(a)
The intrinsic value of a stock option is the amount by which the fair value of the underlying stock exceeds the exercise price of the option.
(b)
This amount represents awards granted as consideration for the First Niagara acquisition.
Activity and Pricing Information for Nonvested Shares in Long-Term Incentive Compensation Program
The following table summarizes activity and pricing information for the nonvested shares in the Program for the year ended December 31, 2016.
 
 
Vesting Contingent on
Service Conditions
 
Vesting Contingent on
Performance and Service
Conditions
  
Number of
Nonvested
Shares
Weighted-
Average
Grant-Date
Fair Value
 
Number of
Nonvested
Shares
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 2015
7,150,502

$
12.88

 
3,713,271

$
13.17

Granted
6,134,951

10.49

 
1,193,440

10.49

First Niagara acquisition (a)
4,121,896

11.51

 
—

—

Vested
(2,893,901
)
11.52

 
(2,056,044
)
11.28

Forfeited
 
(594,642
)
11.68

 
(85,045
)
17.02

Outstanding at December 31, 2016
13,918,806

$
11.78

 
2,765,622

$
14.45

 
 
 
 
 
 

(a)
This amount represents awards granted as consideration for the First Niagara acquisition.
Activity and Pricing Information for Nonvested Shares Granted Under Deferred Compensation Plans and Other Restricted Stock Awards
The following table summarizes activity and pricing information for the nonvested shares granted under our deferred compensation plans and these other restricted stock or unit award programs for the year ended December 31, 2016.
 
 
Number of
Nonvested
Shares
Weighted-Average
Grant-Date
Fair Value
Outstanding at December 31, 2015
3,131,398

$
12.47

Granted
2,141,523

11.46

First Niagara acquisition (a)
104,683

11.57

Dividend equivalents
9,310

12.58

Vested
(1,401,650
)
11.66

Forfeited
(127,112
)
11.24

Outstanding at December 31, 2016
3,858,152

$
12.22

 
 
 

(a)
This amount represents awards granted as consideration for the First Niagara acquisition.