Capital Stock and Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Unamortized Value of Restricted Stock

The unamortized value of $7.1 million at March 31, 2017, if all are ultimately vested, would be amortized according to the following schedule. The fair value of the Exec Grants will vest and be recognized on the date of the consummation of a Qualified Acquisition. Additionally, any Exec Additional Shares required to be issued, would be issued and immediately vest on the date of the consummation of a Qualified Acquisition.

Amortization Schedule (in thousands)	March 31, 2017 unamortized dollar value
2nd quarter 2017	$	84
3rd quarter 2017		84
4th quarter 2017		84
1st quarter 2018		77
2nd quarter 2018		45
3rd quarter 2018		44
4th quarter 2018		44
1st quarter 2019		38
Unamortized fair-value - subject to vesting schedule		500
Unamortized fair-value - event dependent		6,629
Total unamortized dollar value	$	7,129

Summary of Company's Restricted Stock Award Activity

A summary of WMIH’s restricted stock award activity for the three months ended March 31, 2017 and year ended December 31, 2016 is presented below:

	Number of restricted stock awards outstanding		Weighted-average grant date fair value		Aggregate fair value (in thousands)
Outstanding—January 1, 2016		6,168,035		2.1230		13,095
Restricted stock awards granted during 2016		212,765		2.3500		500
Restricted stock awards released or forfeited during 2016		—		—		—
Outstanding—December 31, 2016		6,380,800	$	2.1306	$	13,595
Restricted stock awards granted during 2017		—		—		—
Restricted stock awards released or forfeited during 2017		—		—		—
Outstanding—March 31, 2017		6,380,800	$	2.1306	$	13,595

Schedule of Vesting Shares Subject to Repurchase

The Exec Grants vest upon future events, and are not time specific, and for this reason we have used 1st quarter 2018 as the vesting date in the following table as this date corresponds with the Series B Preferred Stock potential redemption date. The shares subject to repurchase at March 31, 2017 will vest, assuming circumstances remain unchanged, according to the following schedule:

Vesting schedule of shares subject to repurchase	March 31, 2017 unvested shares
2nd quarter 2017		—
3rd quarter 2017		—
4th quarter 2017		—
1st quarter 2018		3,690,576
2nd quarter 2018		—
3rd quarter 2018		—
4th quarter 2018		—
1st quarter 2019		70,920
Total unvested shares		3,761,496

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 March 31, 2017 and December 31, 2016 is presented below:

Vesting schedule of shares subject to repurchase	Unvested shares
Shares subject to repurchase—January 1, 2016		4,197,396
Shares issued subject to vesting during 2016		212,765
Unvested shares repurchased during 2016		—
Shares vested during 2016		(370,570	)
Shares subject to repurchase—December 31, 2016		4,039,591
Shares issued subject to vesting during 2017		—
Unvested shares repurchased during 2017		—
Shares vested during 2017		(278,095	)
Shares subject to repurchase—March 31, 2017		3,761,496