| Schedule of Restricted Stock Units, Vested and Expected to Vest |
The table below presents the 2020 activity related to stock settled RSUs.
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Grant-Date Fair Value of Restricted Stock |
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Future
Service
Required |
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No Future
Service
Required |
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Future |
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No Future
Service
Required |
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4,513,476 |
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14,698,855 |
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$196.69 |
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$191.25 |
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| • |
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The weighted average grant-date fair value of RSUs granted was $220.45 during 2020, $177.42 during 2019 and $218.06 during 2018. The fair value of the RSUs granted included a liquidity discount of 10.1% during 2020, 10.5% during 2019 and 11.9% during 2018, to reflect post-vesting and delivery transfer restrictions, generally of up to 4 years. |
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The aggregate fair value of awards that vested was $2.01 billion during 2020, $2.00 billion during 2019 and $1.79 billion during 2018. |
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The ending balance included restricted stock subject to future service requirements of 72,369 shares as of December 2020 and 23,068 shares as of December 2019. |
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The ending balance included RSUs subject to performance conditions and future service requirements of 210,692 RSUs as of December 2020 and 224,898 RSUs as of December 2019, and represents the maximum amount of such RSUs that may be earned as of December 2020 and December 2019. |
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The ending balance also included RSUs subject to performance conditions but not subject to future service requirements of 489,602 RSUs as of December 2020 and 268,433 RSUs as of December 2019, and the maximum amount of such RSUs that may be earned was 734,403 RSUs as of December 2020 and 402,650 RSUs as of December 2019. |
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