10-K FY 2022 FINAL MOOG Inc - Flipbook - Page 76
Table of Contents
SARs are as follows:
Stock Appreciation Rights
Outstanding at October 2, 2021
Granted in 2022
Exercised in 2022
Number of
Awards
883,423
91,788
(108,390)
WeightedAverage
Exercise
Price
$
69.37
83.00
46.72
(6,963)
70.15
Expired in 2022
Forfeited in 2022
Outstanding at October 1, 2022
Exercisable at October 1, 2022
(1,355)
858,503
666,816
WeightedAverage
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
80.43
$
$
73.67
71.65
5.1 years
4.2 years
$ 3,085,580
$ 3,085,580
The aggregate intrinsic value in the preceding tables represents the total pre-tax intrinsic value, based on our closing
price of Class A common stock of $70.35 and Class B common stock of $71.40 as of October 1, 2022. That value
would have been effectively received by the SAR holders had all SARs been exercised as of that date.
The intrinsic value of awards exercised and fair value of awards vested are as follows:
Stock Appreciation Rights
Intrinsic value of SARs exercised
Total fair value of SARs vested
$
$
2022
3,777
2,346
$
$
2021
3,833
2,558
$
$
2020
2,665
2,825
As of October 1, 2022, total unvested compensation expense associated with SARs amounted to $2,663 and will be
recognized over a weighted-average period of two years.
Restricted Stock Units
Performance-Based Awards
PSU awards consist of shares of our stock which are payable upon the determination that we achieve certain
established performance targets and can range from 0% to 200% of the targeted payout based on the actual results.
PSU's granted in 2022 have a performance period of three years. The fair value of each PSU granted is equal to the
fair market value of our common stock on the date of grant. PSUs granted generally have a cliff vesting schedule of
three years; however, according to the grant agreements, if certain conditions are met, the employee (or beneficiary)
will receive a prorated amount of the award based on active employment during the service period.
PSUs are as follows:
Number of
Awards
59,505
30,836
(31,404)
(493)
58,444
Performance-Based Restricted Stock Units
Nonvested at October 2, 2021
Granted in 2022
Vested in 2022
Forfeited in 2022
Nonvested at October 1, 2022
WeightedAverage
Grant Date
Fair Value
$
80.12
83.00
85.95
79.67
$
78.41
As of October 1, 2022, total unvested compensation expense associated with nonvested PSUs amounted to $2,469
and will be recognized over a weighted-average period of two years.
The number of Class B shares to be issued for PSU awards granted in 2020 that vested based on the achievement of
performance targets in 2022, will be approximately 14,500 shares.
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