Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 127

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 127
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 the years ended December 31, 2024, 2023 and 2022 was $186 million, $154 million and $260 million, respectively. The number of common shares authorized for share-settled awards under the Plan was 181 million as at December 31, 2024, 2023 and 2022.INCENTIVE STOCK OPTIONSCertain key employees are granted ISOs to purchase common shares at the grant date market price. ISOs vest in equal annual installments over a four-year period and expire 10 years after the issue date.December 31, 2024NumberWeighted Average Exercise Price Weighted Average Remaining Contractual Life (years)Aggregate Intrinsic Value (number of options in thousands; weighted average exercise price in Canadian dollars; intrinsic value in millions of Canadian dollars)    Options outstanding at beginning of year28,729 50.79   Options granted5,036 46.36   Options exercised1(7,328)49.27   Options cancelled or expired(1,113)51.78   Options outstanding at end of year25,324 50.31 5.770 Options vested at end of year215,602 51.33 4.237 1The total intrinsic value of ISOs exercised during the years ended December 31, 2024, 2023 and 2022 was $18 million, $2 million and $66 million, respectively, and cash received on exercise was $1 million, nil and $3 million, respectively.2The total fair value of ISOs vested during the years ended December 31, 2024, 2023 and 2022 was $17 million, $20 million and $21 million, respectively.

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Weighted average assumptions used to determine the fair value of ISOs granted using the Black-Scholes-Merton model are as follows:Year ended December 31,202420232022Fair value per option (Canadian dollars)14.076.055.07Valuation assumptionsExpected option term (years)2666Expected volatility321.1 %22.2 %21.9 %Expected dividend yield48.1 %6.7 %6.5 %Risk-free interest rate53.8 %3.5 %1.8 %1Options granted to US employees are based on the NYSE prices. The option value and assumptions shown are based on a weighted average of the US and