Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

The following table summarizes the expenses recognized:

The following assumptions were used during the year ended December 31:

Grants issued during the years ended December 31 were as follows:


	2025			2024			2023
	Number Granted	Weighted-average fair value per award		Number Granted	Weighted-average fair value per award		Number Granted	Weighted-average fair value per award
Stock options	251,510	$	99.09	268,922	$	79.09	425,444	$	47.53
RSUs	128,081	$	374.65	112,227	$	287.84	214,425	$	184.35
Performance shares (1)	141,862	$	378.65	161,978	$	332.85	208,046	$	207.23

(1) The number of performance shares represents the maximum award level.

Changes in options outstanding under the plans for the years 2025, 2024 and 2023 were as follows:


	Shares subject to option	Weighted- average exercise price		Aggregate intrinsic value (millions)		Weighted- average remaining life (years)
December 31, 2022	4,150,484	$	94.06
Granted	425,444	182.27
Exercised	(1,382,846)	80.67
Cancelled	(21,365)	168.18
December 31, 2023	3,171,717	$	111.23
Granted	268,922	278.57
Exercised	(914,667)	86.25
Cancelled	(17,842)	227.59
December 31, 2024	2,508,130	$	137.46
Granted	251,510	359.13
Exercised	(591,924)	104.23
Cancelled	(22,539)	308.87
Outstanding December 31, 2025	2,145,177	$	170.81	$	469.1	5.2
Exercisable December 31, 2025	1,554,352	$	128.12	$	405.8	4.2

The following table summarizes RSU activity for the years 2025, 2024 and 2023:


	RSUs	Weighted- average grant date fair value
Outstanding and unvested at December 31, 2022	294,653	$	147.88
Granted	214,425	184.35
Vested	(154,134)	134.87
Cancelled	(13,153)	173.28
Outstanding and unvested at December 31, 2023	341,791	$	175.65
Granted	112,227	287.84
Vested	(134,791)	164.69
Cancelled	(10,448)	214.39
Outstanding and unvested at December 31, 2024	308,779	$	219.89
Granted	128,081	374.65
Vested	(121,348)	207.44
Cancelled	(17,086)	302.67
Outstanding and unvested at December 31, 2025	298,426	$	286.64

The following table summarizes PSU activity for the maximum number of shares that may be issued for the years 2025, 2024 and 2023:


	PSUs	Weighted-average grant date fair value
Outstanding and unvested at December 31, 2022	609,026	$	165.02
Granted	208,046	207.23
Vested	(237,586)	147.33
Forfeited	(20,526)	186.32
Outstanding and unvested at December 31, 2023	558,960	$	187.47
Granted	161,978	332.85
Vested	(184,060)	182.48
Forfeited	(21,072)	226.31
Outstanding and unvested at December 31, 2024	515,806	$	233.32
Granted	141,862	378.65
Vested	(174,140)	171.01
Forfeited	(12,460)	300.84
Outstanding and unvested at December 31, 2025	471,068	$	298.33

Trane Technologies plc 10-K