Weighted-average grant-date fair value of the stock options granted (in dollars per share)

  
Note 10 Equity

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Stock-Based CompensationIn May 2021, stockholders of the company approved the AbbVie Amended and Restated 2013 Incentive Stock Program (the Amended Plan), which amends and restates the AbbVie 2013 Incentive Stock Program. Stock-based compensation expense is principally related to awards issued pursuant to the AbbVie 2013 Incentive Stock Program and the Amended Plan and is summarized as follows:

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|  |  |  |  | Three months endedMarch 31, |
| (in millions) |  |  |  |  |  | 2022 |  | 2021 |
| Cost of products sold |  |  |  |  |  | $ | 19  |  |  | $ | 20  |  |
| Research and development |  |  |  |  |  | 107  |  |  | 87  |  |
| Selling, general and administrative |  |  |  |  |  | 180  |  |  | 162  |  |
| Pre-tax compensation expense |  |  |  |  |  | 306  |  |  | 269  |  |
| Tax benefit |  |  |  |  |  | 56  |  |  | 48  |  |
| After-tax compensation expense |  |  |  |  |  | $ | 250  |  |  | $ | 221  |  |

Stock OptionsDuring the three months ended March 31, 2022, primarily in connection with the company's annual grant, AbbVie granted 0.9 million stock options with a weighted-average grant-date fair value of $22.83. As of March 31, 2022, $15 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years.RSUs and Performance SharesDuring the three months ended March 31, 2022, primarily in connection with the company's annual grant, AbbVie granted 5.6 million RSUs and performance shares with a weighted-average grant-date fair value of $145.54. As of March 31, 2022, $955 million of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years.Cash DividendsThe following table summarizes quarterly cash dividends declared during 2022 and 2021:

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| 2022 |  | 2021 |
| Date Declared |  | Payment Date |  | Dividend Per Share |  | Date Declared |  | Payment Date |  | Dividend Per Share |
| 02/17/22 |  | 05/16/22 |  | $ | 1.41  |  |  | 10/29/21 |  | 02/15/22 |  | $ | 1.41  |  |
|  |  |  |  |  |  | 09/10/21 |  | 11/15/21 |  | $ | 1.30  |  |
|  |  |  |  |  |  | 06/17/21 |  | 08/16/21 |  | $ | 1.30  |  |
|  |  |  |  |  |  | 02/18/21 |  | 05/14/21 |  | $ | 1.30  |  |

Stock Repurchase ProgramThe company's stock repurchase authorization permits purchases of AbbVie shares from time to time in open-market or private transactions at management's discretion. The program has no time limit and can be discontinued at any time. Shares repurchased under this program are recorded at acquisition cost, including related expenses, and are available for general corporate purposes.AbbVie repurchased 8 million shares for $1.1 billion during the three months ended March 31, 2022 and 5 million shares for $550 million during the three months ended March 31, 2021. AbbVie's remaining stock repurchase authorization was approximately $1.4 billion as of March 31, 2022.

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| 2022 Form 10-Q | abbv-20220331_g2.gif | 16 |


