Hi, Is there a reason why the income reported in box 12V on my W-2 from non-statutory options would be significantly higher than what was in my final pay stub?

You would have to ask your payroll department that question. 

The instructions to your employer for the use of code V in box 12 on your W-2 are simply:

"Code V—Income from the exercise of nonstatutory stock option(s). Show the spread (that is, the fair market value of stock over the exercise price of option(s) granted to your employee with respect to that stock) from your employee's (or former employee's) exercise of nonstatutory stock option(s). Include this amount in boxes 1, 3 (up to the social security wage base), and 5. "

(see https://www.irs.gov/pub/irs-pdf/iw2w3.pdf)