EQUITY AND EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2017

Equity and Earnings Per Share [Abstract]

Summary of Outstanding Options

As of March 31, 2017, New Residential’s outstanding options were summarized as follows:

Held by the Manager	16,344,475
Issued to the Manager and subsequently transferred to certain of the Manager’s employees	2,379,713
Issued to the independent directors	6,000
Total	18,730,188

The following table summarizes New Residential’s outstanding options as of March 31, 2017. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended March 31, 2017 was $16.98 per share.

Recipient	Date of Grant/ Exercise(A)	Number of Unexercised Options	Options Exercisable as of March 31, 2017	Weighted Average Exercise Price(B)		Intrinsic Value of Exercisable Options as of March 31, 2017 (millions)
Directors	Various	6,000	6,000	$	13.99	$	—
Manager(C)	2007	228,000	228,000	29.92		—
Manager(C)	2012	25,000	25,000	7.19		0.2
Manager(C)	2013	835,571	835,571	11.48		4.6
Manager(C)	2014	1,437,500	1,437,500	12.20		6.9
Manager(C)	2015	8,543,539	6,363,811	15.44		9.8
Manager(C)	2016	2,000,000	466,667	14.20		1.3
Manager(C)	2017	5,654,578	188,486	15.00		0.4
Outstanding		18,730,188	9,551,035

(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
2007	$29.92	12,255
2014	$12.20	258,750
2015	$15.25 to $15.88	1,708,708
2016	$14.20	400,000
Total		2,379,713

The following table summarizes activity in New Residential’s outstanding options:

	Amount		Weighted Average Exercise Price
December 31, 2016 outstanding options	13,196,610
Options granted	5,654,578		$	15.00
Options exercised	—		$	—
Options expired unexercised	(121,000	)
March 31, 2017 outstanding options	18,730,188		See table above