Changes in SAR outstanding beginning in 2013 are presented in the following table.
| Number of SAR |
Average Exercise Price |
|||||||
|
Outstanding at December 31, 2012 |
0 | |||||||
|
Granted |
851,000 | $ | 54.21 | |||||
|
Forfeited |
(68,712 | ) | ||||||
|
Surrendered in connection with separation of Murphy USA Inc. |
(73,000 | ) | ||||||
|
Murphy USA Inc. spin-off adjustment |
78,824 | |||||||
|
|
|
|||||||
|
Outstanding at December 31, 2013 |
788,112 | $ | 54.21 | |||||
|
|
|
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