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EQUITY PLANS (Tables)
 6 Months Ended
Jun. 30, 2013
EQUITY PLANS [Abstract]  
Assumptions Used to Calculate the Fair Value of Stock Option Awards
The following assumptions were used to calculate the fair value of the stock option award granted in the first quarter of 2013:

Risk-free interest rate
  
1.25
%
 
    
Expected life (in years)
  
6.5
 
 
    
Dividend yield
  
3.86
%
 
    
Volatility
  
42.31
%
 
    
Grant date fair value
 
$
3.96
 
Activity for Stock Options
The following table summarizes activity relating to Company employees who held Cablevision stock options for the six months ended June 30, 2013:

 
 
Shares
Under Option
      
 
 
 
Time
Vesting Options
  
Performance
Based Vesting
Options
  
Weighted Average Exercise Price Per Share
  
Weighted Average Remaining Contractual Term
(in years)
  
Aggregate Intrinsic
Value(a)
 
Balance, December 31, 2012
  
2,789,342
   
12,319,000
  
$
13.05
   
7.88
  
$
29,143
 
Granted(b)
  
2,000,000
   
-
   
13.98
         
Exercised
  
(34,999
)
  
(263,750
)
  
13.21
         
Forfeited/Expired
  
-
   
(202,900
)
  
13.93
         
 
                    
Balance, June 30, 2013
  
4,754,343
   
11,852,350
  
$
13.15
   
7.64
  
$
61,219
 
 
                    
Options exercisable at June 30, 2013
  
2,654,343
   
6,077,100
  
$
12.37
   
6.50
  
$
38,849
 
 
                    
Options expected to vest in the future
  
2,100,000
   
5,629,503
  
$
14.02
   
8.91
  
$
21,949
 
(a)The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award and (ii) the quoted price of CNYG Class A common stock on June 30, 2013 or December 31, 2012, as indicated, and June 30, 2013 in the case of options exercisable and options expected to vest in the future.
(b)Options are scheduled to cliff vest at the end of three years and expire 10 years from the date of grant.
Activity for Restricted Shares
The following table summarizes activity relating to Company employees who held Cablevision restricted shares for the six months ended June 30, 2013:

 
 
Number of Restricted Shares
  
Number of Performance Restricted Shares
  
Weighted Average Fair Value Per Share at Date of Grant
 
 
 
  
  
 
Unvested award balance, December 31, 2012
  
4,010,675
   
1,297,100
   
17.52
 
Granted
  
2,674,760
   
584,000
   
14.01
 
Vested
  
(1,159,345
)
  
(304,100
)
  
17.67
 
Awards forfeited
  
(311,670
)
  
-
   
16.26
 
 
            
Unvested award balance, June 30, 2013
  
5,214,420
   
1,577,000
   
15.87