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

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
12 Months Ended
Mar. 31, 2020
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)
2020
 
2019
 
2018
Liability Awards Expense (Income)
$
2.8

 
$
(0.6
)
 
$
5.6

Equity Awards Expense
10.3

 
12.5

 
11.1

Total stock-based compensation expense
$
13.1

 
$
11.9

 
$
16.7


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 2020, 2019 and 2018:
 
Shares
Available for
Grant
Balance at 31 March 2018
25,458,910

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

Granted
(800,437
)
Balance at 31 March 2020
22,944,379


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 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

Granted
800,437

 
18.08

Vested
(874,835
)
 
16.21

Forfeited
(1,024,673
)
 
15.21

Non-vested at 31 March 2020
3,162,437

 
14.64


Assumptions Used for Restricted Stock Grants
The following table includes the assumptions used for restricted stock grants (market condition) valued during the fiscal years ended 31 March 2020 and 2019, respectively:
Vesting Condition:
Market
 
Market
 
Market
 
Market
 
Market
 
FY20
 
FY20
 
FY20
 
FY19
 
FY19
Date of grant1
25 Feb 2020

 
20 Sep 2019

 
9 Aug 2019

 
6 Sep 2018

 
17 Aug 2018

Dividend yield (per annum)
2.9
%
 
3.1
%
 
3.1
%
 
3.0
%
 
3.0
%
Expected volatility
26.6
%
 
26.6
%
 
27.8
%
 
26.8
%
 
28.1
%
Risk free interest rate
1.2
%
 
1.6
%
 
1.6
%
 
2.7
%
 
2.7
%
Expected life in years
2.5

 
2.9

 
2.0

 
2.9

 
3.0

JHX stock price at grant date (A$)
29.54

 
24.69

 
21.68

 
20.87

 
22.00

Number of restricted stock units
6,676

 
477,979

 
18,518

 
49,381

 
663,738