Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
12 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense consists of the following:
 
Years Ended 31 March
(Millions of US dollars)
2019
 
2018
 
2017
Liability Awards (Income) Expense
$
(0.6
)
 
$
5.6

 
$
5.4

Equity Awards Expense
12.5

 
11.1

 
9.3

Total stock-based compensation expense
$
11.9

 
$
16.7

 
$
14.7

Summary of Stock Options Available for Grant
The following table summarizes the Company’s shares available for grant as options, restricted stock units or other equity instruments under the LTIP and 2001 Plan at 31 March 2019, 2018 and 2017:
 
Shares
Available for
Grant
Balance at 31 March 2017
27,238,814

Granted
(1,779,904
)
Balance at 31 March 2018
25,458,910

Granted
(1,714,094
)
Balance at 31 March 2019
23,744,816

Summary of Stock Options Activity
There were no stock options granted during the years ended 31 March 2019 and 2018. The following table summarizes the Company’s stock options activity during the noted periods:
 
Outstanding Options
 
Number
 
Weighted
Average
Exercise
Price (A$)
Balance at 31 March 2017
48,896

 
6.38

Exercised
(48,896
)
 
6.38

Balance at 31 March 2018

 
 
Exercised

 
 
Balance at 31 March 2019

 
 
Restricted Stock Unit Activity
The following table summarizes the Company’s restricted stock unit activity during the noted period: 
 
Restricted
Stock Units
 
Weighted
Average Fair
Value at Grant
Date (A$)
Non-vested at 31 March 2017
3,340,245

 
14.80

Granted
1,779,904

 
14.04

Vested
(615,334
)
 
12.05

Forfeited
(367,223
)
 
14.12

Non-vested at 31 March 2018
4,137,592

 
14.63

Granted
1,714,094

 
14.12

Vested
(745,787
)
 
15.53

Forfeited
(844,391
)
 
13.71

Non-vested at 31 March 2019
4,261,508

 
14.47

Assumptions Used for Restricted Stock Grants
The following table includes the assumptions used for restricted stock grants (market condition) valued during the year ended 31 March 2019 and 2018, respectively:
Vesting Condition:
Market
 
Market
 
Market
 
FY19
 
FY19
 
FY18
Date of grant
6 Sep 2018

 
17 Aug 2018

 
21 Aug 2017

Dividend yield (per annum)
3.0
%
 
3.0
%
 
3.0
%
Expected volatility
26.8
%
 
28.1
%
 
30.1
%
Risk free interest rate
2.7
%
 
2.7
%
 
1.5
%
Expected life in years
2.9

 
3.0

 
3.3

JHX stock price at grant date (A$)
20.87

 
22.00

 
17.91

Number of restricted stock units
49,381

 
663,738

 
932,393