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Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Equity-Based Compensation Included In Compensation And Benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EQUITY-BASED COMPENSATION INCLUDED IN COMPENSATION AND BENEFITS

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31,

 

 

2015

 

2014

 

2013

Equity based compensation expense

 

$

 1,189 

 

$

 1,319 

 

$

 1,947 

Non-equity based compensation expense

 

 

 26,839 

 

 

 28,445 

 

 

 45,220 

Total compensation and benefits

 

$

 28,028 

 

$

 29,764 

 

$

 47,167 

 

Period Costs by Plan Name or Instrument

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DETAIL OF EQUITY BASED COMPENSATION BY PLAN

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31,

 

 

2015

 

2014

 

2013

Operating LLC Units - JVB Acquisition

 

$

 -

 

$

 32 

 

$

 911 

Restricted Stock or Units - 2006/2010 Plans

 

 

 440 

 

 

 538 

 

 

 905 

Options - 2010 Plan

 

 

 749 

 

 

 749 

 

 

 114 

Restricted PrinceRidge units (1)

 

 

 -

 

 

 -

 

 

 17 

Total equity based compensation expense

 

$

 1,189 

 

$

 1,319 

 

$

 1,947 

 

(1)

Relates to the issuance of restricted PrinceRidge units to certain investment banking professionals and executives of PrinceRidge. Also, in 2013, amounts include $44 of expense related to PrinceRidge restricted units grants accounted for as a liability instead of equity.  As of December 31, 2015 and 2014, there were no restricted PrinceRidge units outstanding.

Stock Options, Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCK OPTIONS - SERVICE BASED VESTING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Options

 

Weighted Average Exercise Price

 

Weighted average grant date fair value

 

Weighted Average Remaining Contractual Term (in years)

Balance at January 1, 2014

 

 

 3,000,000 

 

$

 4.00 

 

 

$         0.70

 

 

 

Granted

 

 

 278,571 

 

 

 4.00 

 

 

$         0.70

 

 

 

Exercised

 

 

 -

 

 

 -

 

 

 

 

 

 

Forfeited

 

 

 (85,714)

 

 

 4.00 

 

 

$         0.70

 

 

 

Balance at December 31, 2014

 

 

 3,192,857 

 

 

 4.00 

 

 

$         0.70

 

 

 

Granted

 

 

 -

 

 

 -

 

 

 

 

 

 

Exercised

 

 

 -

 

 

 -

 

 

 

 

 

 

Forfeited

 

 

 -

 

 

 -

 

 

$         0.70

 

 

 

Balance at December 31, 2015

 

 

 3,192,857 

 

$

 4.00 

 

 

$         0.70

 

 

 2.9 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2015

 

 

 1,526,189 

 

$

 4.44 

 

 

 

 

 

 

 

Service Based Vesting [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Restricted Stock and Restricted Stock Units Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RESTRICTED STOCK AND RESTRICTED UNITS - SERVICE BASED VESTING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Shares of Restricted Stock

 

Weighted average grant date fair value

 

Number of Restricted Units

 

Weighted average grant date fair value

Unvested at January 1, 2013

 

 

 427,057 

 

$

 1.87 

 

 

 172,585 

 

$

 1.92 

Granted

 

 

 408,079 

 

 

 1.98 

 

 

 -

 

 

 -

Vested

 

 

 (522,008)

 

 

 1.62 

 

 

 (40,135)

 

 

 3.26 

Forfeited

 

 

 (1,828)

 

 

 4.89 

 

 

 -

 

 

 -

Unvested at December 31, 2013

 

 

 311,300 

 

 

 2.42 

 

 

 132,450 

 

 

 1.51 

Granted

 

 

 158,438 

 

 

 2.43 

 

 

 -

 

 

 -

Vested

 

 

 (311,300)

 

 

 2.42 

 

 

 (132,450)

 

 

 1.51 

Unvested at December 31, 2014

 

 

 158,438 

 

 

 2.43 

 

 

 -

 

 

 -

Granted

 

 

 333,334 

 

 

 1.65 

 

 

 -

 

 

 -

Vested

 

 

 (176,338)

 

 

 1.65 

 

 

 -

 

 

 -

Unvested at December 31, 2015

 

 

 315,434 

 

$

 1.65 

 

 

 -

 

$

 -

 

Performance and Service Based Vesting [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Restricted Stock and Restricted Stock Units Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RESTRICTED STOCK AND RESTRICTED UNITS - PERFORMANCE AND SERVICE BASED VESTING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Shares of Restricted Stock

 

Weighted average grant date fair value

 

Number of Restricted Units (1)

 

Weighted average grant date fair value

Unvested at January 1, 2013

 

 

 330,769 

 

$

 4.34 

 

 

 500,000 

 

$

 -

Granted

 

 

 -

 

 

 -

 

 

 50,000 

 

 

 2.42 

Vested

 

 

 (127,788)

 

 

 4.34 

 

 

 (50,000)

 

 

 2.42 

Forfeited

 

 

 (103,155)

 

 

 4.89 

 

 

 -

 

 

 -

Unvested at December 31, 2013

 

 

 99,826 

 

 

 3.78 

 

 

 500,000 

 

$

 -

Granted

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Vested

 

 

 (67,568)

 

 

 4.89 

 

 

 -

 

 

 -

Forfeited

 

 

 (32,258)

 

 

 1.47 

 

 

 -

 

 

 -

Unvested at December 31, 2014

 

 

 -

 

 

 -

 

 

 500,000 

 

$

 -

Granted

 

 

 32,258 

 

 

 1.75 

 

 

 -

 

 

 -

Vested

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Forfeited

 

 

 (32,258)

 

 

 1.75 

 

 

 -

 

 

 -

Unvested at December 31, 2015

 

 

 -

 

$

 

 

 

 500,000 

 

$

 -

 

  (1)During the first quarter of 2012, the Company issued 500,000 restricted units of Common Stock to a non-employee. FASB ASC 505-50 requires that an equity instrument issued to a non-employee should be measured by using the stock price and other measurement assumptions as of the earlier of the date at which either (i) a commitment for performance by the counterparty has been reached or (2) the counterparty’s performance is complete. In accordance with FASB ASC 505-50, the Company will not accrue any expense until the actual vesting date occurs.