Shareholders' Equity

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders' Equity

On March 9, 2016, BB&T issued $465 million of series H non-cumulative perpetual preferred stock with a stated dividend rate of 5.625% per annum for net proceeds of $450 million. Dividends, if declared by the Board of Directors, are payable quarterly in arrears. BB&T issued depositary shares, each of which represents a fractional ownership interest in a share of the 18,600 shares of the Company’s series H preferred stock. The preferred stock has no stated maturity and redemption is solely at the option of the Company in whole, but not in part, upon the occurrence of a regulatory capital treatment event, as defined. In addition, the preferred stock may be redeemed in whole or in part, on any dividend payment date after June 1, 2021. Under current rules, any redemption of the preferred stock is subject to prior approval of the FRB. The preferred stock is not subject to any sinking fund or other obligations of the Corporation.

During the third quarter of 2016, the Company repurchased $160 million of common stock under the 2015 Repurchase Plan, which represented 4.3 million shares. The repurchased shares revert to the status of authorized and unissued shares upon repurchase.

The activity relating to options and restricted shares/units during the period is presented in the following tables:

	Options		Wtd. Avg. Exercise Price
	(Shares in thousands)
Outstanding at January 1, 2016	20,577		$	34.89
Granted	610		32.10
Replacement awards issued in connection with business combination	566		36.12
Exercised	(1,664	)	29.32
Forfeited or expired	(2,836	)	40.62
Outstanding at September 30, 2016	17,253		34.43
Exercisable at September 30, 2016	16,373		34.43
Exercisable and expected to vest at September 30, 2016	17,207		34.43

	Restricted Shares/Units		Wtd. Avg. Grant Date Fair Value
	(Shares in thousands)
Nonvested at January 1, 2016	11,824		$	29.81
Granted	5,233		27.49
Vested	(2,870	)	27.58
Forfeited	(321	)	29.43
Nonvested at September 30, 2016	13,866		29.41
Expected to vest at September 30, 2016	12,710		29.41