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EQUITY AND EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2013
Equity And Earnings Per Share Tables  
Schedule of outstanding options

As of December 31, 2013, New Residential’s outstanding options were summarized as follows:

 

                                                 
    December 31, 2013     December 31, 2012  
    Issued Prior to
2011		     Issued in 2011-
2013		     Total     Issued Prior to
2011		     Issued in 2011
and 2012		     Total  
Held by the Manager     1,496,555       16,176,333       17,672,888       1,751,172       7,934,166       9,685,338  
Issued to the Manager and
subsequently transferred to
certain of the Manager’s employees		     535,570       2,510,000       3,045,570       701,937       2,860,000       3,561,937  
Issued to the independent directors     2,000       10,000       12,000       2,000       2,000       4,000  
                                                 
Total     2,034,125       18,696,333       20,730,458       2,455,109       10,796,166       13,251,275  
                                                 

The following table summarizes New Residential’s outstanding options as of December 31, 2013. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2013 was $6.68 per share.

 

                                     
Recipient   Date of
Grant/
Exercise (A)		   Number of
Options		     Options
Exercisable
as of
December 31,
2013		     Weighted
Average
Exercise
Price (B)		     Intrinsic
Value as of
December 31,
2013
(millions)		  
Directors   Various     12,000       12,000     $ 7.76       —    
Manager (C)   2003 - 2007     2,453,109       2,032,125     $ 15.28       —    
Manager (C)   Mar-11     1,676,833       1,580,166     $ 3.29     $ 5.4  
Manager (C)   Sep-11     2,539,833       2,170,850     $ 2.49     $ 9.1  
Manager (C)   Apr-12     1,897,500       1,244,778     $ 3.41     $ 4.1  
Manager (C)   May-12     2,300,000       1,421,667     $ 3.67     $ 4.3  
Manager (C)   Jul-12     2,530,000       1,416,195     $ 3.67     $ 4.3  
Manager (C)   Jan-13     5,750,000       2,108,333     $ 5.12     $ 3.3  
Manager (C)   Feb-13     2,300,000       766,667     $ 5.74     $ 0.7  
Exercised (D)   2013     (307,833 )      N/A     $ 3.08       N/A  
Expired unexercised   2003     (420,984 )      N/A       N/A       N/A  
                                     
Outstanding         20,730,458       12,752,781                  
                                     

 

(A) Options expire on the tenth anniversary from date of grant.
(B) The strike 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 Strike
Prices		   Total Unexercised
Inception to Date		  
2004 - 2007   $13.86 - $16.95     535,570  
2011   $2.49 - $3.29     1,210,000  
2012   $3.41 - $3.67     1,300,000  
             
Total         3,045,570  
             

 

(D) Exercised by employees of Fortress subsequent to their assignment. The options exercised had an intrinsic value of $1.0 million.