COMPENSATION PROGRAMS (Tables)

12 Months Ended

Dec. 31, 2014

COMPENSATION PROGRAMS [Abstract]

Schedule Of Performance- And Service- Based Stock Award Activity

Performance-based and service-based stock award activity for year ended December 31, 2014 is summarized below:

	Number of Shares			Weighted Average Grant Date Fair Value
Unvested stock awards outstanding at beginning of year		528,931		$	12.51
Grants		72,237			12.80
Vestings		(164,587	)		13.23
Unvested stock awards outstanding at end of year		436,581			12.29

Schedule Of Option Award Activity

Option awards currently outstanding have ten-year contractual terms from the grant date and were issued with strike prices equal to the quoted market prices of Capstead’s common shares on the dates of grant, all of which were prior to 2010.  The fair value of option awards was estimated on the dates of grant using a Black-Scholes option pricing model and expensed over vesting periods that ended prior to 2012.  Option award activity for the year ended December 31, 2014 is summarized below:

	Number of Shares			Weighted Average Exercise Price
Option awards outstanding at beginning of year		77,500		$	11.75
Expirations		(10,000	)		14.41
Exercises		(27,500	)		10.63
Option awards outstanding at end of year		40,000			11.86