Financial Information

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PART II

Item 8. Financial Statements and Supplementary Data.

MARRIOTT INTERNATIONAL, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 6. STOCK-BASED COMPENSATION

RSUs and PSUs

We granted RSUs in the 2020 first quarter to certain officers and key employees, and those units vest generally over four years in equal annual installments commencing one year after the grant date. We also granted performance-based RSUs (“PSUs”) in the 2020 first quarter to certain executive officers, which are earned, subject to continued employment and the satisfaction of certain performance conditions based on achievement of pre-established targets for gross room openings, active Marriott Bonvoy loyalty member growth, and adjusted operating income growth over, or at the end of, a three-year performance period. Additionally, in the 2020 third quarter, as part of our effort to encourage associate retention in response to the severe impact of COVID-19 on our industry and Company, we accelerated the issuance of RSU awards to certain officers and key employees that ordinarily would have been made in the 2021 first quarter, and those units generally vest over four years and five months, with one quarter of the units vesting one year and five months after the grant date and the remaining units vesting in equal annual installments thereafter. We did not accelerate the issuance of awards for our most senior executives.

We had deferred compensation costs for RSUs of approximately $301 million at year-end 2020 and $176 million at year-end 2019. The weighted average remaining term for RSUs outstanding at year-end 2020 was 2.5 years.

The following table provides additional information on RSUs, including PSUs, for the last three fiscal years:

Financial Table

The following table presents the changes in our outstanding RSUs, including PSUs, during 2020 and the associated weighted average grant-date fair values: