Quarterly report pursuant to Section 13 or 15(d)

EQUITY AND EARNINGS PER SHARE (Tables)

v3.4.0.3
EQUITY AND EARNINGS PER SHARE (Tables)
3 Months Ended
Mar. 31, 2016
Equity and Earnings Per Share [Abstract]  
Summary of Outstanding Options
The following table summarizes activity in New Residential’s outstanding options:
 
 
Amount
 
Weighted Average Exercise Price
December 31, 2015 outstanding options
 
12,380,107

 
 
Options granted
 

 
$

Options exercised
 

 
$

Options expired unexercised
 

 
 
March 31, 2016 outstanding options
 
12,380,107

 
See table above
As of March 31, 2016, New Residential’s outstanding options were summarized as follows:
 
Issued Prior to 2011
 
Issued in 2011-2015
 
Total
Held by the Manager
345,720

 
8,874,152

 
9,219,872

Issued to the Manager and subsequently transferred to certain of the Manager’s employees
88,280

 
3,067,955

 
3,156,235

Issued to the independent directors

 
4,000

 
4,000

Total
434,000

 
11,946,107

 
12,380,107



The following table summarizes New Residential’s outstanding options as of March 31, 2016. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended March 31, 2016 was $11.63 per share.
Recipient
Date of
Grant/
Exercise(A)
 
Number of Unexercised
Options
 
Options
Exercisable
as of
March 31, 2016
 
Weighted
Average
Exercise
Price(B)
 
Intrinsic
Value of Exercisable Options as of
March 31, 2016
(millions)
Directors
Various
 
4,000

 
4,000

 
$
13.58

 
$

Manager(C)
2003 - 2007
 
434,000

 
434,000

 
31.36

 

Manager(C)
2011 - 2012
 
25,000

 
25,000

 
7.19

 
0.1

Manager(C)
2013
 
1,936,068

 
1,936,068

 
10.98

 
1.3

Manager(C)
2014
 
1,437,500

 
1,102,083

 
12.20

 

Manager(C)
2015
 
8,543,539

 
2,946,395

 
15.46

 

Outstanding
 
 
12,380,107

 
6,447,546

 
 
 
 
 
(A)
Options expire on the tenth anniversary from date of grant.
(B)
The exercise prices are subject to adjustment in connection with return of capital dividends.
(C)
The Manager assigned certain of its options to Fortress’s employees as follows:
    
Date of Grant
 
Range of Exercise
Prices
 
Total Unexercised
Inception to Date
2006-2007
 
$29.92 to $33.80
 
88,280

2013
 
$10.24 to $11.48
 
1,100,497

2014
 
$12.20
 
258,750

2015
 
$15.25 to $15.88
 
1,708,708

Total
 
 
 
3,156,235