Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information required by this Item is incorporated by reference from the discussion under the heading Stock Ownership in our 2023 Proxy Statement.

Equity Compensation Plan Information Table

The following table sets forth information about the grants of stock options, all share units and other rights under all of the Company’s equity compensation plans as of the close of business on December 31, 2022. The table does not include information about tax-qualified plans such as the West 401(k) Plan or the West Contract Manufacturing Savings and Retirement Plan.

(1) Includes 1,179,919 outstanding stock options, 9,371 stock appreciation rights, 113,443 performance share units, 18,016 restricted retention share units, and 121,086 deferred stock-equivalents units under the 2016 Plan. Includes 704,137 outstanding stock options, 11,031 stock appreciation rights, and 97,592 deferred stock-equivalents units under the 2011 Plan (which was terminated in 2016). Includes 17,128 deferred stock-equivalents under the 2007 Omnibus Incentive Compensation Plan (which was terminated in 2011). The average term of remaining options is 4.8 years. No future grants or awards may be made under the terminated plans. The total includes restricted performance share units at 100% of grant. The restricted performance share unit payouts were at 189.25%, 154.52%, and 82.61% in 2022, 2021 and 2020, respectively.

(2) All share units and deferred stock-equivalent units are excluded when determining the weighted-average exercise price of outstanding options.

(3) Represents 3,738,308 shares reserved under the Company’s Employee Stock Purchase Plan and 1,681,526 shares remaining available for issuance under the 2016 Plan. The estimated number of shares that could be issued for 2022 from the Employee Stock Purchase Plan is 172,368. This number of shares is calculated by multiplying the 84 shares per offering period per participant limit by 2,052, the number of current participants in the plan.