SEPARATION OF SERVICE CHARGE

12 Months Ended

Dec. 31, 2016

S E P A R A T I O N O F S E R V I C E C H A R G E [Abstract]

SEPARATION OF SERVICE CHARGE

NOTE 3 — SEPARATION OF SERVICE CHARGE

Effective July 14, 2016, Mr. Andrew F. Jacobs resigned as a director of Capstead and from his positions as President and Chief Executive Officer (“CEO”).  Pursuant to a consulting agreement entered into with Mr. Jacobs, by early January 2017 he received payments aggregating $2.3 million in addition to continuing to participate in the Company’s short- and long-term incentive compensation and employee benefit programs for the remainder of 2016.  Costs associated with Mr. Jacobs’ resignation and consulting arrangement, net of equity award cost accrual reversals, are recorded in Separation of service charge for the year ended December 31, 2016.  Included in Accounts payable and accrued expenses at December 31, 2016 was $2.8 million in amounts associated with Mr. Jacobs’ separation of service and consulting arrangement.  Also included in Accounts payable and accrued expenses is a $3.5 million accrual for deferred compensation plan balances Mr. Jacob’s will receive over a pre-designated timeframe in accordance with plan provisions.