SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

Weighted Average Assumptions Used in Estimating the Value of Stock Options Granted in 2016



	Stock Options⁽¹⁾
Expected volatility	25.43		%
Expected dividends	5.37		%
Expected term (in years)	4.95
Risk-free rate	1.28		%
Weighted average grant date fair value		$2.73


(1)	Weighted average assumptions presented do not include the replacement stock options awards issued as consideration for our merger with Plum Creek.

Weighted Average Assumptions Used in Estimating the Value of Performance Share Units Granted in 2016



	Performance Share Units
Performance period	1/1/2016 – 12/31/2018
Valuation date closing stock price	$	23.09
Expected dividends	5.37					%
Risk-free rate	0.48		%	–	0.93	%
Expected volatility	23.57		%	–	28.09	%

Weighted Average Assumptions Used to Remeasure the Value of Stock Appreciation Rights as of March 31, 2016