Quarterly report pursuant to Section 13 or 15(d)

Employee Benefits and Share Option Plans

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Employee Benefits and Share Option Plans
9 Months Ended
Sep. 30, 2014
Postemployment Benefits [Abstract]  
Employee Benefits and Share Option Plans
8. Employee Benefits and Share Option Plans

 

Share Option Awards

 

The following is a summary of option activity under our share option plan for the nine months ended September 30, 2014:

 

    Number of Share Option
Awards
 
    Time-
Based
Options
    Performance-
Based
Options
 
Outstanding as of  December 31, 2013     3,242,643       1,572,516  
Granted     2,473,115        
Exercised     (95,365 )     (72,175 )
Forfeited or expired     (71,890 )     (2,866 )
Outstanding as of September 30, 2014     5,548,503       1,497,475  

 

During the nine months ended September 30, 2014 we granted approximately 2.5 million of options at a weighted-average exercise price of $32.16.