| Schedule of outstanding options |
The following is a summary of the changes in Newcastle’s outstanding options for the six months ended June 30, 2016:
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Number of Options |
|
Weighted Average Strike Price |
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Weighted Average Life Remaining (in years) |
Balance at December 31, 2015 |
5,421,561 |
|
|
$ |
2.85 |
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|
|
Granted (A) |
333 |
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|
3.78 |
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|
|
Balance at June 30, 2016 |
5,421,894 |
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$ |
2.86 |
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|
6.29 |
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|
|
|
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Exercisable at June 30, 2016 |
5,217,783 |
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$ |
2.81 |
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|
6.19 |
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(A) |
Options granted to a non-employee director upon joining the board of directors. |
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| Schedule of outstanding options summary |
As of June 30, 2016, Newcastle’s outstanding options were summarized as follows:
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Issued Prior to 2011 |
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Issued in 2011 and thereafter |
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Total |
Held by the Manager |
115,239 |
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|
5,010,243 |
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|
5,125,482 |
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Issued to the Manager and subsequently transferred to certain of the Manager’s employees |
29,422 |
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|
266,657 |
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|
296,079 |
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Issued to the independent directors |
— |
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|
333 |
|
|
333 |
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Total |
144,661 |
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|
5,277,233 |
|
|
5,421,894 |
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Weighted average strike price |
$ |
13.18 |
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|
$ |
2.57 |
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|
$ |
2.86 |
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| Schedule of amounts used in computing basic and diluted EPS |
Newcastle is required to present both basic and diluted earnings per share (“EPS”). The following table shows the amounts used in computing basic and diluted EPS:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2016 |
|
2015 |
|
2016 |
|
2015 |
Numerator for basic and diluted earnings per share: |
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Income from continuing operations after preferred dividends and noncontrolling interests |
$ |
1,651 |
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$ |
16,495 |
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$ |
73,675 |
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$ |
14,288 |
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Income from discontinued operations, net of tax |
— |
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|
524 |
|
|
— |
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|
639 |
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Income Applicable to Common Stockholders |
$ |
1,651 |
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|
$ |
17,019 |
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|
$ |
73,675 |
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$ |
14,927 |
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Denominator: |
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Denominator for basic earnings per share - weighted average shares |
66,681,248 |
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|
66,426,980 |
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|
66,667,923 |
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|
66,425,751 |
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Effect of dilutive securities |
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Options |
2,218,267 |
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|
2,777,737 |
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|
1,924,283 |
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2,629,744 |
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Denominator for diluted earnings per share - adjusted weighted average shares |
68,899,515 |
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|
69,204,717 |
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|
68,592,206 |
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|
69,055,495 |
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Basic earnings per share: |
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Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests |
$ |
0.02 |
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$ |
0.25 |
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$ |
1.11 |
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$ |
0.22 |
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Income from discontinued operations per share of common stock |
$ |
— |
|
|
$ |
0.01 |
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|
$ |
— |
|
|
$ |
0.01 |
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Income Applicable to Common Stock, per share (A) |
$ |
0.02 |
|
|
$ |
0.26 |
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$ |
1.11 |
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$ |
0.22 |
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Diluted earnings per share: |
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|
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Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests |
$ |
0.02 |
|
|
$ |
0.24 |
|
|
$ |
1.07 |
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|
$ |
0.21 |
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Income from discontinued operations per share of common stock |
$ |
— |
|
|
$ |
0.01 |
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|
$ |
— |
|
|
$ |
0.01 |
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Income Applicable to Common Stock, per share (A) |
$ |
0.02 |
|
|
$ |
0.25 |
|
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$ |
1.07 |
|
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$ |
0.22 |
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(A) |
Due to rounding, income per share from continuing operations and income per share from discontinued operations may not sum to the income per share of common stock. |
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