Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of RSUs and PSUs to be Settled in Common Stock Activity
A summary of the activity for RSUs to be settled in common stock for the three months ended March 31, 2022 and 2021 is as follows (RSUs in thousands):
2022 2021
RSUs Weighted Average
Grant Date Fair Value
(Per Unit)
RSUs Weighted Average
Grant Date Fair Value
(Per Unit)
Unvested at January 1 3,880  $61.64 3,869  $37.57
Granted 768  $110.24 898  $82.21
Vested (1,177) $48.50 (1,334) $36.85
Forfeited (38) $63.66 (42) $37.37
Unvested at March 31
3,433  $77.09 3,391  $49.69
A summary of the activity for PSUs to be settled in common stock for the three months ended March 31, 2022 and 2021 is as follows (PSUs in thousands):
2022 2021
PSUs Weighted Average
Grant Date Fair Value
(Per Unit)
PSUs Weighted Average
Grant Date Fair Value
(Per Unit)
Unvested at January 1 931  $47.27 1,047  $37.65
Granted 148  $119.04 172  $90.28
Vested (334) $40.15 (268) $38.28
Forfeited —  N/A (11) $36.90
Unvested at March 31
745  $64.69 940  $47.14
Grant Date Fair Value for Awards of Performance Units Inputs The Monte Carlo simulation valuation methodology applied the following key inputs:
2022 2021
Valuation date price based on March 2, 2022 and March 25, 2021 closing stock prices of Quanta common stock $110.24 $83.48
Expected volatility 39  % 36  %
Risk-free interest rate 1.64  % 0.26  %
Term in years 2.83 2.77