Annual report pursuant to Section 13 and 15(d)

EQUITY AND EARNINGS PER SHARE - Outstanding Options (Details 2)

v2.4.1.9
EQUITY AND EARNINGS PER SHARE - Outstanding Options (Details 2) (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Stock options outstanding 5,500,599us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions 5,090,427us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
Options exercisable 3,681,869us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber  
Stock Option [Member]    
Stock options outstanding 508,514us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Various    
Recipient Directors  
Stock options outstanding 3,333us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrantMember
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 333us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrantMember
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 12.73us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrantMember
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Stock Option [Member] | 2002-2007    
Recipient Manager  
Stock options outstanding 587,277us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant1Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 199,660us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant1Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 14.09us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant1Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant $ 6,400nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant1Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2]  
Stock Option [Member] | Mar-11    
Recipient Manager  
Stock options outstanding 287,499us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant2Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 182,527us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant2Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 1.88us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant2Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 7,000nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant2Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[3]  
Intrinsic value 500us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant2Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Sep-11    
Recipient Manager  
Stock options outstanding 431,249us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant3Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 283,305us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant3Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 1.07us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant3Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 5,600nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant3Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[4]  
Intrinsic value 1,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant3Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Apr-12    
Recipient Manager  
Stock options outstanding 316,247us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant4Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 306,991us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant4Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 2.00us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant4Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 5,600nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant4Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[5]  
Intrinsic value 800us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant4Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | May-12    
Recipient Manager  
Stock options outstanding 383,328us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant5Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 372,440us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant5Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 2.29us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant5Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 7,600nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant5Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[6]  
Intrinsic value 800us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant5Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Jul-12    
Recipient Manager  
Stock options outstanding 421,661us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant6Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 397,698us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant6Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 2.27us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant6Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 8,300nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant6Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[7]  
Intrinsic value 900us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant6Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Jan-13    
Recipient Manager  
Stock options outstanding 958,331us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant7Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 734,720us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant7Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 3.76us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant7Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 18,000nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant7Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[8]  
Intrinsic value 700us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant7Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Feb-13    
Recipient Manager  
Stock options outstanding 383,331us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant8Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 281,109us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant8Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 4.39us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant8Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 8,400nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant8Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[2],[9]  
Intrinsic value 100us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ us-gaap_AwardDateAxis
= nct_DateOfGrant8Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Stock Option [Member] | Jun-13    
Recipient Manager  
Stock options outstanding 670,829us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant9Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 402,497us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant9Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 4.67us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant9Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 3,800nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant9Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[10],[2]  
Stock Option [Member] | Nov-13    
Recipient Manager  
Stock options outstanding 965,847us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant10Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 418,534us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant10Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 5.01us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant10Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant 6,000nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant10Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[11],[2]  
Stock Option [Member] | Aug-14    
Recipient Manager  
Stock options outstanding 765,416us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
/ us-gaap_AwardDateAxis
= nct_DateOfGrant11Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Options exercisable 102,055us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ us-gaap_AwardDateAxis
= nct_DateOfGrant11Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
Weighted Average Strike Price $ 5.45us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant11Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1]  
Fair value at date of grant $ 1,700nct_StockOptionsFairValueAtDateOfGrant
/ us-gaap_AwardDateAxis
= nct_DateOfGrant11Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[12],[2]  
Stock Option [Member] | Prior to 2008    
Recipient Exercised [13]  
Stock options exercised (173,833)us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised
/ us-gaap_AwardDateAxis
= nct_DateOfGrant12Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[13]  
Weighted Average Strike Price $ 14.09us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant12Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1],[13]  
Stock Option [Member] | Oct-12    
Recipient Exercised [14]  
Stock options exercised (15,972)us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised
/ us-gaap_AwardDateAxis
= nct_DateOfGrant13Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[14]  
Weighted Average Strike Price $ 1.48us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant13Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1],[14]  
Stock Option [Member] | Sep-13    
Recipient Exercised [15]  
Stock options exercised (51,306)us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised
/ us-gaap_AwardDateAxis
= nct_DateOfGrant14Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[15]  
Weighted Average Strike Price $ 1.67us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant14Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1],[15]  
Stock Option [Member] | 2014    
Recipient Exercised [16]  
Stock options exercised (216,186)us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised
/ us-gaap_AwardDateAxis
= nct_DateOfGrant15Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[16]  
Weighted Average Strike Price $ 1.46us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ us-gaap_AwardDateAxis
= nct_DateOfGrant15Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
[1],[16]  
Stock Option [Member] | 2002-2004    
Recipient Expired unexercised  
Stock options expired (216,432)us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
/ us-gaap_AwardDateAxis
= nct_DateOfGrant16Member
/ us-gaap_AwardTypeAxis
= us-gaap_EmployeeStockOptionMember
 
[1] The strike prices are subject to adjustment in connection with return of capital dividends and spin-offs. A portion of Newcastle's 2008 dividends was deemed return of capital dividends. The effect on the strike prices was not significant. In the first quarter of 2014, strike prices were adjusted by $0.32 reflecting the portion of Newcastle's 2013 dividends which was deemed return of capital. The strike prices were adjusted for the New Residential, New Media and New Senior spin-offs as described above. As of December 31, 2014, the weighted average strike price of the outstanding options issued prior to 2011 was $14.09.
[2] The fair value of the options was estimated using an option valuation model. Since the Newcastle Option Plan, 2012 Plan and 2014 Plan have characteristics significantly different from those of traded options, and since the assumptions used in such model, particularly the volatility assumption, are subject to significant judgment and variability, the actual value of the options could vary materially from management's estimate. The volatility assumption for these options was estimated based primarily on the historical volatility of Newcastle's common stock and management's expectations regarding future volatility. The expected life assumption for options issued prior to 2011 was estimated based on the simplified term method. This simplified method was used because Newcastle did not have sufficient historical data to conclude on the appropriate expected life of its options and because historical data to date was consistent with the simplified term method. The expected life assumption for options issued in 2011 and thereafter was estimated based primarily on the historical expected life of applicable previously issued options.
[3] The assumptions used in valuing the options were: a 1.7% risk-free rate, 107.8% volatility and a 3.3 year expected term.
[4] The assumptions used in valuing the options were: a 1.13% risk-free rate, 13.2% dividend yield, 151.1% volatility and a 4.6 year expected term.
[5] The assumptions used in valuing the options were: a 1.3% risk-free rate, 12.9% dividend yield, 149.4% volatility and a 4.7 year expected term.
[6] The assumptions used in valuing the options were: a 1.05% risk-free rate, 11.9% dividend yield, 148.4% volatility and a 4.8 year expected term.
[7] The assumptions used in valuing the options were: a 0.75% risk-free rate, 11.9% dividend yield, 147.5% volatility and a 4.8 year expected term.
[8] The assumptions used in valuing the options were: a 2.0% risk-free rate, 8.8% dividend yield, 56.2% volatility and a 10 year term.
[9] The assumptions used in valuing the options were: a 2.1% risk-free rate, 7.8% dividend yield, 55.5% volatility and a 10 year term.
[10] The assumptions used in valuing the options were: a 2.5% risk-free rate, 8.8% dividend yield, 36.9% volatility and a 10 year term.
[11] The assumptions used in valuing the options were: a 2.8% risk-free rate, 6.7% dividend yield, 32.0% volatility and a 10 year term.
[12] The assumptions used in valuing the options were: a 2.7% risk-free rate, 8.6% dividend yield, 23.4% volatility and a 10 year term.
[13] 111,770 of the total options exercised were by the Manager. 61,417 of the total options exercised were by employees of Fortress subsequent to their assignment. 666 of the total options exercised were by directors.
[14] Exercised by employees of Fortress subsequent to their assignment. The options exercised had an intrinsic value of $0.2 million.
[15] Exercised by employees of Fortress subsequent to their assignment. The options exercised had an intrinsic value of $0.9 million.
[16] 215,853 options were exercised by employees of Fortress subsequent to their assignment with an intrinsic value of $4.1 million. 333 options were exercised by directors with a minimal intrinsic value.