Quarterly report pursuant to Section 13 or 15(d)

EQUITY AND EARNINGS PER SHARE (Tables)

v3.5.0.2
EQUITY AND EARNINGS PER SHARE (Tables)
9 Months Ended
Sep. 30, 2016
Equity and Earnings Per Share [Abstract]  
Summary of Outstanding Options
As of September 30, 2016, New Residential’s outstanding options were summarized as follows:
 
Issued Prior to 2011
 
Issued in 2011-2016
 
Total
Held by the Manager
345,720

 
10,874,152

 
11,219,872

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

 
1,967,458

 
2,055,738

Issued to the independent directors

 
6,000

 
6,000

Total
434,000

 
12,847,610

 
13,281,610



The following table summarizes New Residential’s outstanding options as of September 30, 2016. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended September 30, 2016 was $13.81 per share.
Recipient
Date of
Grant/
Exercise(A)
 
Number of Unexercised
Options
 
Options
Exercisable
as of
September 30, 2016
 
Weighted
Average
Exercise
Price(B)
 
Intrinsic
Value of Exercisable Options as of
September 30, 2016
(millions)
Directors
Various
 
6,000

 
6,000

 
$
13.60

 
$

Manager(C)
2003 - 2007
 
434,000

 
434,000

 
31.36

 

Manager(C)
2011 - 2012
 
25,000

 
25,000

 
7.19

 
0.2

Manager(C)
2013
 
835,571

 
835,571

 
11.48

 
2.0

Manager(C)
2014
 
1,437,500

 
1,389,583

 
12.20

 
2.2

Manager(C)
2015
 
8,543,539

 
4,655,103

 
15.44

 

Manager(C)
2016
 
2,000,000

 
66,667

 
14.20

 

Outstanding
 
 
13,281,610

 
7,411,924

 
 
 
 
 
(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
 

2014
 
$12.20
 
258,750

2015
 
$15.25 to $15.88
 
1,708,708

2016
 
$13.65 to $14.20
 

Total
 
 
 
2,055,738

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
 
2,002,000

 
$
14.20

Options exercised
 
(1,100,497
)
 
$
10.59

Options expired unexercised
 

 


September 30, 2016 outstanding options
 
13,281,610

 
See table above