XML 40 R28.htm IDEA: XBRL DOCUMENT v3.4.0.3
EQUITY PLANS (Tables)
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Activity for Stock Options
The following table summarizes activity relating to Company employees who held Cablevision stock options for the three months ended March 31, 2016:
 
Shares
Under Option
 
Weighted Average
Exercise
Price Per Share
 
Weighted Average Remaining
Contractual Term
(in years)
 
 
 
Time
Vesting Options
 
Performance
Based Vesting Options
 
 
 
Aggregate Intrinsic
Value (a)
Balance, December 31, 2015
6,744,000

 
6,609,217

 
$
15.28

 
6.80
 
$
221,900

Granted
—

 
—

 
—

 
 
 
 

Exercised
(200,000
)
 
(718,517
)
 
14.86

 
 
 
 

Balance, March 31, 2016
6,544,000

 
5,890,700

 
$
15.31

 
6.65
 
$
219,925

Options exercisable at March 31, 2016
3,210,666

 
5,890,700

 
$
14.24

 
6.03
 
$
170,765

Options expected to vest in the future
3,333,334

 
—

 
$
18.25

 
8.33
 
$
49,160

 
(a)
The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award and (ii) the quoted price of CNYG Class A common stock on March 31, 2016 or December 31, 2015, as indicated, and March 31, 2016 in the case of options exercisable and options expected to vest in the future.
Activity for Restricted Shares
The following table summarizes activity relating to Company employees who held Cablevision restricted shares and restricted stock units for the three months ended March 31, 2016:
 
Number of Restricted Shares
 
Number of Performance Restricted Shares
 
Number of Performance Based Restricted Stock Units ("PSU") (a)
 
Weighted Average Fair Value Per Share at Date of Grant
Unvested award balance, December 31, 2015
4,967,748

 
1,880,100

 
1,772,430

 
$
17.53

Granted
—

 
—

 
—

 
—

Vested
(2,239,167
)
 
(753,296
)
 
—

 
15.35

Awards forfeited
(85,900
)
 
—

 
(47,490
)
 
18.38

Unvested award balance, March 31, 2016
2,642,681

 
1,126,804

 
1,724,940

 
18.69


 
(a)
The PSUs entitle the employee to shares of CNYG common stock up to 150% of the number of PSUs granted depending on the level of achievement of the specified performance criteria. If the minimum performance threshold is not met, no shares will be issued. Accrued dividends are paid to the extent that a PSU vests and the related stock is issued.