STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Share-Based Payment Arrangement [Abstract] |
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| 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, | 2024 | | 2023 | (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 volatility | 18.80 | % | | 20.00 | % | | 20.20 | % | | Expected average volatility of peer companies | 34.80 | % | | 39.70 | % | | 41.70 | % | | Correlation assumption | 30.70 | % | | 33.30 | % | | 41.20 | % | | Risk-free interest rate | 4.51 | % | | 3.83 | % | | 2.04 | % | | Dividend yield assumption | 1.16 | % | | 1.36 | % | | 1.33 | % |
(1)The 2023 award inputs and assumptions are related to PSU-ROIC awards with a TSR modifier.
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| 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 RSUs | | Performance-Based RSUs | | Units | | Weighted Average
Grant-Date Fair Value | | Units | | Weighted Average
Grant-Date Fair Value | Nonvested at January 1, 2024 | 335,874 | | $ | 115.15 | | | 514,383 | | $ | 130.10 | | | Granted | 130,098 | | 138.24 | | | 129,614 | | 145.79 | | | Vested | (184,631) | | 119.11 | | | (97,686) | | 162.24 | | | Forfeited | (4,096) | | 119.31 | | | (33,085) | | 142.78 | | | Nonvested at December 31, 2024 | 277,245 | | $ | 123.28 | | | 513,226 | | $ | 127.17 | |
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| Schedule of compensation expense, fair value, and intrinsic value related to RSU's |
| | | | | | | | | | | | | | | | | | | Year Ended December 31, | 2024 | | 2023 | | 2022 | | Compensation expense | $ | 40,581 | | | $ | 37,015 | | | $ | 40,937 | | | Fair value of units vested | 36,313 | | | 29,100 | | | 32,013 | | | Intrinsic value of units vested | 40,083 | | | 33,914 | | | 33,024 | |
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| 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, | 2024 | | 2023 | | | | Dividend Yield | 1.28 | % | | 1.41 | % | | | | Expected Stock Price Volatility | 17.03 | % | | 16.55 | % | | | | Risk-free Interest Rate | 4.51 | % | | 3.57 | % | | | | Expected Life of Option (years) | 7.0 | | 7.0 | | |
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| 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 Plans | | Director Stock Option Plans | | Options | | Weighted Average
Exercise Price | | Options | | Weighted Average
Exercise Price | Outstanding, January 1, 2024 | 2,182,784 | | | $ | 80.63 | | | 19,000 | | | $ | 66.59 | | | Granted | 249,805 | | | 141.00 | | | — | | | — | | | Exercised | (750,771) | | | 71.62 | | | (19,000) | | | 66.59 | | | Forfeited or expired | (18,511) | | | 87.66 | | | — | | | — | | | Outstanding at December 31, 2024 | 1,663,307 | | | $ | 93.69 | | | — | | | $ | — | | | Exercisable at December 31, 2024 | 1,211,208 | | | $ | 80.20 | | | — | | | $ | — | | | Weighted-Average Remaining Contractual Term (Years): | | | | | | | | | Outstanding at December 31, 2024 | 4.2 | | | | 0.0 | | | | Exercisable at December 31, 2024 | 2.5 | | | | 0.0 | | | | 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 | | | | | $ | — | | | |
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| Schedule of compensation expense, and fair value related to options |
| | | | | | | | | | | | | | | | | | | Year Ended December 31, | 2024 | | 2023 | | 2022 | | 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 tax | 6,880 | | | 4,278 | | | — | | | Grant date fair value of options vested | 2,320 | | | 2,663 | | | — | |
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