STOCKHOLDERS' DEFICIENCY

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

STOCKHOLDERS' DEFICIENCY

STOCKHOLDERS' DEFICIENCY

Information about the Company's common and treasury stock issued and/or outstanding is presented in the following table:

	Common Stock
	Class A		Class B		Treasury Stock
Balance, January 1, 2013	49,986,651		3,125,000		754,853
Conversion of Class B shares to Class A shares	3,125,000		(3,125,000	)	—
Restricted stock grants	120,000		—		—
Balance, December 31, 2013	53,231,651		—		754,853
Restricted stock grants	693,378		—		—
Withholding of restricted stock to satisfy taxes	—		—		22,328
Balance, December 31, 2014	53,925,029		—		777,181
Restricted stock grants	220,635		—		—
Restricted stock forfeitures	(57,490	)	—		—
Withholding of restricted stock to satisfy taxes	—		—		82,740
Balance, December 31, 2015	54,088,174		—		859,921

Common Stock

As of December 31, 2015, Revlon, Inc.'s authorized common stock consisted of 900 million shares of Class A Common Stock, with a par value of $0.01 per share (the "Class A Common Stock"), and 200 million shares of Class B common stock, par value $0.01 per share ("Class B Common Stock" and together with the Class A Common Stock, the "Common Stock"). In October 2009, Revlon, Inc., amended its certificate of incorporation to: (1) clarify that the provision requiring that holders of its Class A Common Stock and holders of its Class B Common Stock receive the same consideration in certain business combinations shall only apply in connection with transactions involving third parties; and (2) increase the number of Revlon, Inc.’s authorized shares of preferred stock from 20 million to 50 million and, accordingly, to increase the number of Revlon, Inc.’s authorized shares of capital stock from 1,120 million to 1,150 million. The holders of Class A Common Stock and Class B Common Stock vote as a single class on all matters, except as otherwise required by law, with each share of Class A Common Stock entitling its holder to one vote and each share of the Class B Common Stock entitling its holder to ten votes. The holders of the Company's two classes of authorized Common Stock are entitled to share equally in the earnings of the Company from dividends, when and if declared by Revlon, Inc.’s Board of Directors. Each share of Class B Common Stock is convertible into one share of Class A Common Stock.

In October 2013, MacAndrews & Forbes exercised its right under Revlon, Inc.'s Restated Certificate of Incorporation to voluntarily convert all of the 3,125,000 shares of Revlon, Inc. Class B Common Stock (previously held in the name of REV Holdings LLC) on a one-for-one basis into 3,125,000 shares of Revlon, Inc. Class A Common Stock. The shares of Revlon, Inc.'s Class A Common Stock issued in such conversion were not registered under the Securities Act. As MacAndrews & Forbes is an accredited investor within the meaning of Rule 501 of Regulation D under the Securities Act, such shares were issued in reliance on exemptions from registration under Section 4(2) of the Securities Act and Rule 506 of Regulation D under the Securities Act. Appropriate restrictive legends were affixed to the certificate representing the shares of Class A Common Stock issued to REV Holdings LLC in such conversion. Revlon, Inc. did not receive any proceeds in connection with such conversion. As a result of such conversion, as of December 31, 2015 and 2014, there were no shares of Class B Common Stock outstanding.

As of December 31, 2015, after giving effect to the foregoing transactions, MacAndrews & Forbes beneficially owned approximately 78% of Revlon, Inc.’s Class A Common Stock, representing approximately 78% of Revlon, Inc.’s outstanding voting capital stock.

Treasury Stock

Pursuant to the share withholding provisions of the Stock Plan, during 2015 the Company withheld a total of 82,740 shares of Revlon, Inc. Class A Common Stock to satisfy its minimum statutory tax withholding requirements related to the vesting of shares of restricted stock. These shares were recorded as treasury stock using the cost method, at a weighted average of $34.40 per share, based on the NYSE closing price per share on each applicable vesting date, for a total of $2.8 million. During 2014, the Company withheld a total of 22,328 shares of Revlon, Inc. Class A Common Stock to satisfy its minimum statutory tax withholding requirements related to the vesting of shares of restricted stock, in the aggregate amount of $0.7 million.