Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Future compensation amounts will be adjusted for any changes in estimated forfeitures:


($ in millions)
Stock Awards	$	37.0
Stock options	1.2
Total unrecognized compensation cost	$	38.2

Schedule of Stock Option Activity

The following summarizes option activity under the Stock Plan for the years ended December 31, 2024, 2023 and 2022 (in millions, except price per share and numbers of years):


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2021	3.9	$	27.77
Granted	—	—
Exercised	(0.1)	16.14
Canceled/forfeited	(0.5)	29.88
Outstanding as of December 31, 2022	3.3	27.97
Granted	—	—
Exercised	(0.5)	21.01
Canceled/forfeited	(0.6)	31.34
Outstanding as of December 31, 2023	2.2	28.87
Granted	0.1	41.10
Exercised	(0.6)	27.22
Canceled/forfeited	—	—
Outstanding as of December 31, 2024	1.7	30.27		4.4	$	11.1
Vested and expected to vest as of December 31, 2024	1.7	30.23		4.4	11.0
Exercisable as of December 31, 2024	1.5	$	29.34	4.0	$	10.4

Options outstanding as of December 31, 2024 are summarized below (in millions; except price per share and numbers of years):


	Outstanding				Exercisable
Exercise Price	Number of Options	Average Exercise Price		Average Remaining Life (in years)	Number of Options	Average Exercise Price
$0.00 - $17.43	0.1	$	17.43	1.1	0.1	$	17.43
$17.44 - $23.46	0.2	22.32		2.2	0.2	22.31
$23.47 - $31.46	1.0	31.22		4.6	0.9	31.19
$31.47 - $33.43	0.2	33.35		4.0	0.2	33.35
$33.44 - $41.10	0.2	$	37.77	7.7	0.1	$	33.66
Total shares	1.7				1.5

The following summarizes the aggregate intrinsic value of stock options exercised under the Stock Plan during the years ended December 31:


($ in millions)	2024		2023		2022
Aggregate intrinsic value of stock options exercised	$	7.9	$	5.2	$	1.0

Schedule of Assumptions Used

The fair value of each stock option granted was estimated on the date of grant using the Black-Scholes model for service condition awards with the following weighted average assumptions for the year ended December 31, 2024. There were no options granted during the years ended December 31, 2023 and 2022.


	2024
Risk-free interest rate	4.3	%
Volatility	30.2	%
Dividend yield	0.3	%
Expected years until exercise	6.5

Schedule of Stock Unit Activity

The following summarizes information related to Stock Award activity under the Stock Plan for the years ended December 31, 2024, 2023 and 2022 (in millions; except price per share):


	Number of Stock Awards	Weighted Average Grant-Date Fair Value
Unvested as of December 31, 2021	1.8	$	32.44
Granted	1.4	23.60
Vested	(0.6)	31.29
Forfeited	(0.4)	29.15
Unvested as of December 31, 2022	2.2	27.39
Granted	1.4	26.39
Vested	(0.9)	27.56
Forfeited	(0.3)	26.56
Unvested as of December 31, 2023	2.4	26.87
Granted	1.0	41.34
Vested	(0.9)	27.62
Forfeited	(0.4)	31.81
Unvested as of December 31, 2024	2.1	$	32.37

Vontier Corp 10-K