Capital Stock (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Unamortized Value of Restricted Stock

The unamortized value of $0.8 million at March 31, 2015, if all are ultimately vested, would be amortized according to the following schedule.

Amortization Schedule (in thousands)	March 31, 2015 Unvested $ value
2nd quarter 2015	$	130
3rd quarter 2015	130
4th quarter 2015	130
1st quarter 2016	125
2nd quarter 2016	92
3rd quarter 2016	92
4th quarter 2016	92
1st quarter 2017	57
Total unamortized value	$	848

Summary of Company's Restricted Stock Award Activity

A summary of WMIHC’s restricted stock award activity for the three months ended March 31, 2015 and year ended December 31, 2014 is presented below:

	Number of restricted stock awards outstanding		Weighted-average grant date fair value		Aggregate intrinsic value (in thousands)
Outstanding—January 1, 2014		1,842,351	$	0.6787	$	1,250
Restricted stock awards granted during 2014		500,894	2.6602			1,332
Restricted stock awards released or forfeited during 2014		—		—		—
Outstanding—December 31, 2014		2,343,245		1.1023		2,582
Restricted stock awards granted during 2015		—		—		—
Restricted stock awards released or forfeited during 2015		—		—		—
Outstanding—March 31, 2015		2,343,245	$	1.1023	$	2,582

Schedule of Vesting Shares Subject to Repurchase

The shares subject to repurchase at March 31, 2015 will vest according to the following schedule:

Vesting schedule of shares subject to repurchase	March 31, 2015 Unvested Shares
2nd quarter 2015		—
3rd quarter 2015		—
4th quarter 2015		—
1st quarter 2016		395,717
2nd quarter 2016		—
3rd quarter 2016		—
4th quarter 2016		—
1st quarter 2017		166,959
Total		562,676

Summary of Company's Restricted Shares Issued and Subject to Repurchase

A summary of the Company’s restricted shares issued and subject to repurchase as of the three months ended March 31, 2015 and year ended December 31, 2014 is presented below:

Vesting schedule of shares subject to repurchase	Unvested Shares
Shares subject to repurchase—January 1, 2014		1,456,987
Shares issued subject to vesting during 2014		500,894
Unvested shares repurchased during 2014		—
Shares vested during 2014		(614,117	)
Shares subject to repurchase—December 31, 2014		1,343,764
Shares issued subject to vesting during 2015		—
Unvested shares repurchased during 2015		—
Shares vested during 2015		(781,088	)
Shares subject to repurchase—March 31, 2015		562,676

On April 28, 2015, WMIHC issued 269,234 restricted stock grants to members of the Board totaling $0.7 million of aggregate intrinsic value. The share price was determined based on the closing sales price of $2.60 on the date of the award.

Contingent on the reincorporation of WMIHC from Washington to Delaware as more fully described in Note 14: Subsequent Events, and as a condition of voluntarily tendering their resignations from the WMIHC Board of Directors and WMIHC accepting the resignation of Mark E. Holliday and Timothy R. Graham as Directors, all restricted shares held by Mr. Holliday and Mr. Graham issued but unvested on the date of reincorporation will be immediately vested. A total of 190,070 shares, which were previously scheduled to vest over the next three years, would vest early (“Early Vesting”). Of the Early Vesting shares 113,146 were outstanding as of March 31, 2015 and the balance were issued in conjunction with the annual meeting of shareholders on April 28, 2015 as more fully described in Note 14: Subsequent Events. This Early Vesting resulted in a one-time charge to compensation and a corresponding increase in additional paid in capital totaling $182 thousand during the three months ended March 31, 2015.