2.2.0.7
false
Equity Compensation Plans
11601 - Disclosure - Equity Compensation Plans
true
false
false
false
1
USD
false
false
Unit12
Standard
http://www.xbrl.org/2003/iso4217
USD
iso4217
0
Unit13
Divide
http://www.xbrl.org/2003/iso4217
USD
iso4217
http://www.xbrl.org/2003/instance
shares
xbrli
0
Unit1
Standard
http://www.xbrl.org/2003/instance
shares
xbrli
0
$
5
3
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
us-gaap
true
na
duration
No definition available.
false
false
false
false
false
false
false
false
false
false
false
false
|
1
false
false
false
false
0
0
<div> <div style="min-width: 708px; text-align: center;">
<h2 style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: bold 10pt/12pt serif; padding-top: 5pt;">Note 16. Equity Compensation Plans </h2>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">As of June 30, 2010 and December 31, 2009, 1,933,344 and 783,911 shares of common stock, respectively, were available for grant under Redwood's Incentive Plan. The unamortized compensation cost under the Incentive Plan and the Employee Stock Purchase Plan totaled $13 million at June 30, 2010, as shown in the following table. </p>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;"> </p>
<div style="text-align: center;">
<table style="text-align: left; padding-bottom: 3pt; text-transform: none; font-variant: normal; font-style: normal; text-indent: 0px; margin: -24pt 0pt 0pt; padding-left: 0pt; padding-right: 0pt; font-family: serif; font-size: 10pt; vertical-align: text-bottom; font-weight: normal; padding-top: 3pt;" cellspacing="0" cellpadding="0">
<tr><td> </td>
<td style="border-bottom: medium none; text-align: center; vertical-align: text-bottom;"> </td>
<td colspan="3"> </td>
<td style="border-bottom: medium none; text-align: center; vertical-align: text-bottom;"> </td>
<td colspan="3"> </td>
<td style="border-bottom: medium none; text-align: center; vertical-align: text-bottom;"> </td>
<td colspan="3"> </td>
<td style="border-bottom: medium none; text-align: center; vertical-align: text-bottom;"> </td>
<td colspan="3"> </td>
<td style="border-bottom: medium none; text-align: center; vertical-align: text-bottom;"> </td>
<td colspan="3"> </td></tr>
<tr><td style="text-align: left; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="19">Six Months Ended June 30, 2010</td></tr>
<tr><td style="border-bottom: black 1pt solid; text-align: left; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;">(In Thousands)</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="3">Stock<br />Options</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="3">Restricted<br />Stock</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="3">Deferred<br />Stock<br />Units</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="3">Employee<br />Stock<br />Purchase<br />Plan</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; line-height: normal; font-size: 8pt; vertical-align: text-bottom; font-weight: bold;" colspan="3">Total</td></tr>
<tr style="background-color: white;"><td style="text-indent: 0pt; padding-left: 10pt; vertical-align: text-bottom;">Unrecognized compensation cost at beginning of period</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;">$</td>
<td style="text-align: right; vertical-align: text-bottom;">—</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;">$</td>
<td style="text-align: right; vertical-align: text-bottom;">879</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;">$</td>
<td style="text-align: right; vertical-align: text-bottom;">16,081</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;">$</td>
<td style="text-align: right; vertical-align: text-bottom;">—</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;">$</td>
<td style="text-align: right; vertical-align: text-bottom;">16,960</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td></tr>
<tr style="background-color: #ccffcc;"><td style="text-indent: 0pt; padding-left: 10pt; vertical-align: text-bottom;">Equity grants</td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;"> </td>
<td style="text-align: right; vertical-align: text-bottom;">—</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;"> </td>
<td style="text-align: right; vertical-align: text-bottom;">17</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;"> </td>
<td style="text-align: right; vertical-align: text-bottom;">3,988</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;"> </td>
<td style="text-align: right; vertical-align: text-bottom;">178</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="text-align: center; vertical-align: text-bottom;"> </td>
<td style="text-align: left; vertical-align: text-bottom;"> </td>
<td style="text-align: right; vertical-align: text-bottom;">4,183</td>
<td style="text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td></tr>
<tr style="background-color: white;"><td style="border-bottom: white 1pt solid; text-indent: 0pt; padding-left: 10pt; vertical-align: text-bottom;">Equity compensation cost</td>
<td style="border-bottom: white 1pt solid; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; vertical-align: text-bottom;">—</td>
<td style="border-bottom: white 1pt solid; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="border-bottom: white 1pt solid; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; vertical-align: text-bottom;">(174</td>
<td style="border-bottom: white 1pt solid; text-align: left; white-space: nowrap; vertical-align: text-bottom;">) </td>
<td style="border-bottom: white 1pt solid; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; vertical-align: text-bottom;">(7,865</td>
<td style="border-bottom: white 1pt solid; text-align: left; white-space: nowrap; vertical-align: text-bottom;">) </td>
<td style="border-bottom: white 1pt solid; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; vertical-align: text-bottom;">(97</td>
<td style="border-bottom: white 1pt solid; text-align: left; white-space: nowrap; vertical-align: text-bottom;">) </td>
<td style="border-bottom: white 1pt solid; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; vertical-align: text-bottom;">(8,136</td>
<td style="border-bottom: white 1pt solid; text-align: left; white-space: nowrap; vertical-align: text-bottom;">) </td></tr>
<tr style="background-color: #ccffcc;"><td style="border-bottom: white 3px double; text-indent: 0pt; padding-left: 10pt; vertical-align: text-bottom; font-weight: bold;">Unrecognized Compensation Cost at End of Period</td>
<td style="border-bottom: white 3px double; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 3px double; text-align: left; vertical-align: text-bottom;">$</td>
<td style="border-bottom: black 3px double; text-align: right; vertical-align: text-bottom;">—</td>
<td style="border-bottom: white 3px double; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="border-bottom: white 3px double; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 3px double; text-align: left; vertical-align: text-bottom;">$</td>
<td style="border-bottom: black 3px double; text-align: right; vertical-align: text-bottom;">722</td>
<td style="border-bottom: white 3px double; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="border-bottom: white 3px double; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 3px double; text-align: left; vertical-align: text-bottom;">$</td>
<td style="border-bottom: black 3px double; text-align: right; vertical-align: text-bottom;">12,204</td>
<td style="border-bottom: white 3px double; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="border-bottom: white 3px double; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 3px double; text-align: left; vertical-align: text-bottom;">$</td>
<td style="border-bottom: black 3px double; text-align: right; vertical-align: text-bottom;">81</td>
<td style="border-bottom: white 3px double; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td>
<td style="border-bottom: white 3px double; text-align: center; vertical-align: text-bottom;"> </td>
<td style="border-bottom: black 3px double; text-align: left; vertical-align: text-bottom;">$</td>
<td style="border-bottom: black 3px double; text-align: right; vertical-align: text-bottom;">13,007</td>
<td style="border-bottom: white 3px double; text-align: left; white-space: nowrap; vertical-align: text-bottom;"> </td></tr></table></div>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">At June 30, 2010, the weighted average amortization period remaining for all of our equity awards was one year. </p>
<h3 style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: bold italic 10pt/12pt serif; padding-top: 5pt;">Stock Options </h3>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">As of June 30, 2010 and December 31, 2009, there were 488,573 and 500,073, respectively, of fully vested stock options outstanding. The aggregate intrinsic value of the options outstanding and options currently exercisable was less than $1 million at both June 30, 2010 and December 31, 2009. </p>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">For both the three and six months ended June 30, 2010, there were 11,500 stock options exercised with an intrinsic value or gain (fair market value less exercise price) of less than $1 million. </p>
<h3 style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: bold italic 10pt/12pt serif; padding-top: 5pt;">Restricted Stock </h3>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">As of June 30, 2010 and December 31, 2009, there were 62,951 and 75,645 shares, respectively, of restricted stock outstanding. Restrictions on these shares lapse through January 2014. There were no restricted stock awards granted during the three and six months ended June 30, 2010. </p>
<h3 style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: bold italic 10pt/12pt serif; padding-top: 5pt;">Deferred Stock Units </h3>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">As of June 30, 2010 and December 31, 2009, there were 1,986,099 and 1,708,326, respectively, DSUs outstanding, of which 931,201 and 294,430, respectively, had vested. There were 108,484 and 471,310 DSUs granted during the three and six months ended June 30, 2010, respectively. During the three and six months ended June 30, 2010, the number of DSUs distributed to participants in the Executive Deferred Compensation Plan (EDCP) totaled 54,601 and 59,559, respectively. Cash distributions to EDCP participants of some of their previously deferred compensation and vested matching totaled less than $1 million during both the three and six months ended June 30, 2010. </p>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">In March 2010, vesting of 376,564 DSUs previously awarded to Mr. George E. Bull, III, was accelerated to June 1, 2010, in connection with the announcement that he would retire from serving as Chief Executive Officer in the second quarter of 2010. We recorded a $4 million equity compensation expense during the first quarter of 2010 related to modifications of these DSUs. </p>
<h3 style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 0pt; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: bold italic 10pt/12pt serif; padding-top: 5pt;">Employee Stock Purchase Plan </h3>
<p style="text-align: left; padding-bottom: 3pt; text-transform: none; text-indent: 20px; margin: 0pt; padding-left: 4px; padding-right: 0pt; font: 10pt/12pt serif; padding-top: 3pt;">The ESPP allows a maximum of 200,000 shares of common stock to be purchased in aggregate for all employees. As of June 30, 2010 and December 31, 2009, 107,011 and 92,479 shares have been purchased, respectively, and there remained a negligible amount of uninvested employee contributions in the ESPP. </p></div> </div>
Note 16. Equity Compensation Plans
As of June 30, 2010 and December 31, 2009, 1,933,344 and 783,911 shares of common stock, respectively, were available for
false
false
false
|
us-types:textBlockItemType
textblock
Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
false
1
1
false
UnKnown
UnKnown
UnKnown
false
true