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

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

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2017

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)	2017		2016		2015

Liability Awards Expense	$	5.4	$	4.8	$	3.3
Equity Awards Expense		9.3		10.3		9.2

Total stock-based compensation expense	$	14.7	$	15.1	$	12.5

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 2017, 2016 and 2015:


	Shares Available for Grant
Balance at 31 March 2015		24,754,902

Granted		(1,410,560)
New Shares Authorized		5,000,000
Forfeitures Available for Re-grant		74,466

Balance at 31 March 2016		28,418,808

Granted		(1,179,994)

Balance at 31 March 2017		27,238,814

Summary of Stock Options Activity

The following table summarizes the Company’s stock options activity during the noted period:


	Outstanding Options
	Number		Weighted Average Exercise Price (A$)
Balance at 31 March 2015		511,780		8.17

Exercised		(333,287)		8.54
Forfeited		(74,466)		7.85

Balance at 31 March 2016		104,027		7.22

Exercised		(55,131)		7.97

Balance at 31 March 2017		48,896		6.38

Outstanding and Exercisable Options under 2001 Equity Incentive Plan and Long-Term Incentive Plan

The following table summarizes outstanding and exercisable options under both the 2001 Plan and the LTIP as of 31 March 2017:


	Options Outstanding and Exercisable
Exercise Price (A$)	Number	Weighted Average Remaining Life (in Years)	Weighted Average Exercise Price (A$)	Aggregate Intrinsic Value (A$)
6.38	48,896	0.7	6.38	693,834

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 2015		4,008,001		8.44

Granted		1,410,560		14.95
Vested		(1,219,352)		7.28
Forfeited		(149,755)		9.92

Non-vested at 31 March 2016		4,049,454		11.00

Granted		1,179,994		18.54
Vested		(1,314,825)		8.60
Forfeited		(574,378)		9.10

Non-vested at 31 March 2017		3,340,245		14.80

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 2017 and 2016, respectively:


Vesting Condition:	Market		Market
	FY17		FY16
Date of grant		16 Sep 2016		16 Sep 2015
Dividend yield (per annum)		2.3%		3.8%
Expected volatility		31.5%		36.8%
Risk free interest rate		1.1%		1.5%
Expected life in years		3.0		3.0
JHX stock price at grant date (A$)		20.82		17.76
Number of restricted stock units		456,819		579,262