Did any named executive officers exercise options or have other stock awards vest in 2023?
All our named executive officers had outstanding awards of restricted stock units vest in 2023. No restricted stock or stock options vested in 2023. No options were exercised in 2023.
OPTION EXERCISES AND STOCK VESTED IN 2023(1)
| | Robert J. Sprowls | | | 28,608(3) | | | $1,514,152 | |
| | Eva G. Tang | | | 3,738(4) | | | 171,205 | |
| | Paul J. Rowley | | | 2,782(5) | | | 108,695 | |
| | Christopher H. Connor | | | 236 | | | 20,455 | |
| | Gladys M. Farrow | | | 2,767(6) | | | 128,013 | |
(1) We determined the value realized on vesting of restricted stock units based on the closing market price of our common shares on the business day prior to the date of vesting as reported on The Wall Street Journal website (www.wsj.com).
(2) Includes performance stock award granted in 2021, which vested in 2023.
(3) Out of 28,608 shares fully vested in 2023, Mr. Sprowls acquired 3,988 common shares on February 10, 2023, upon the payout of restricted stock units with a market value of $369,091 on the date of acquisition based on a closing price of $92.54. Mr. Sprowls is entitled to acquire the remaining 24,620 common shares, which were not payable during 2023, because of the immediate vesting of these common shares under the Rule of 75. Mr. Sprowls acquired 4,310 of these common shares on February 9, 2024 with a market value of $323,702 on the date of acquisition based on a closing price of $75.11. On March 15, 2024, Mr. Sprowls acquired 15,950 of these common shares (including 95 common shares with respect to dividends declared on February 6, 2024 pursuant to dividend equivalent rights on these shares) with an aggregate market value of $1,145,061 on the date of acquisition based on a closing price of $71.79. Mr. Sprowls was entitled to acquire the remaining 4,360 common shares, which were not payable during 2023, because of the vesting of these common shares under the Rule of 75. Mr. Sprowls has the right to acquire 1,368 of these common shares within 30 days from January 30, 2025, 1,474 of these common shares within 30 days from February 6, 2025 and 1,518 of these common shares within 30 days from February 6, 2026 as a result of the previous vesting of the 4,360 restricted stock units, the value of which was not realized during 2023, plus common shares with respect to dividends declared after December 31, 2023 on these common shares pursuant to dividend equivalent rights on these shares until the date of acquisition of these shares.
(4) Out of 3,738 shares fully vested in 2023, Ms. Tang acquired 841 common shares on February 10, 2023, upon the payout of restricted stock units with a market value of $77,847 on the date of acquisition based on a closing price of $92.54. Ms. Tang is entitled to acquire the remaining 2,897 common shares, which were not payable during 2023, because of the immediate vesting of these common shares under the Rule of 75. Ms. Tang acquired 852 of these common shares on February 9, 2024 with a market value of $63,989 on the date of acquisition based on a closing price of $75.11. On March 15, 2024, Ms. Tang acquired 1,300 of these common shares (including 8 common shares with respect to dividends declared on February 6, 2024 pursuant to dividend equivalent rights on these shares) with an aggregate market value of $93,358 on the date of acquisition based on a closing price of $71.79. Ms. Tang was entitled to acquire the remaining 745 common shares, which were not payable during 2023, because of the vesting of these common shares under the Rule of 75. Ms. Tang has the right to acquire 241 of these common shares within 30 days from January 30, 2025, 248 of these common shares within 30 days from February 6, 2025 and 256 of these common shares within 30 days from February 6, 2026 as a result of the previous vesting of the 745 restricted stock units, the value of which was not realized during 2023, plus common shares with respect to dividends declared after December 31, 2023 on these common shares pursuant to dividend equivalent rights on these shares until the date of acquisition of these shares.
(5) Out of 2,782 shares fully vested in 2023, Mr. Rowley acquired 607 common shares on February 10, 2023 upon the payout of restricted stock units with a market value of $56,211 on the date of acquisition based on a closing price of $92.54. Mr. Rowley acquired 19 common shares on December 15, 2023 upon the payout of restricted stock units with a market value of $1,575 on the date of acquisition based on a closing price of $83.61. Mr. Rowley is entitled to acquire the remaining 2,156 common shares, which were not payable during 2023, because of the immediate vesting of these common shares under the Rule of 75. Mr. Rowley acquired 682 of these common shares on February 9, 2024 with a market value of $51,243 on the date of acquisition based on a closing price of $75.11. On March 15, 2024, Mr. Rowley acquired 709 of these common shares (including 4 common shares with respect to dividends declared on February 6, 2024 pursuant to dividend equivalent rights on these shares) with an aggregate market value of $50,909 on the date of acquisition based on a closing price of $71.79. Mr. Rowley was entitled to acquire the remaining 765 common shares, which were not payable during 2023, because of the immediate vesting of these common shares under the Rule of 75. Mr. Rowley has the right to acquire 20 of these common shares within 30 days from December 9, 2024, 241 of these common shares within 30 days from January 30, 2025, 248 of these common shares within 30 days from February 6, 2024 and 256 of these common shares within 30 days
