Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Equity-Based Compensation Plans with Grants Outstanding

The following table provides a summary of each of the Company’s equity-based compensation plans for any plan with grants outstanding at December 31, 2015:

Equity-Based Compensation Plans	Shares Authorized		Options/RSUs Outstanding		Shares Available to Issue
1998 Management Long-Term Stock Option Plan		1,000		6		—
1998 Directors' Long-Term Stock Option Plan		150		8		—
2000 Broadly-Based Stock Option Plan		2,000		126		—
2010 Equity Incentive Plan (1)		700		359		39
NVR, Inc. 2014 Equity Incentive Plan (2)		950		648		302

(1) During 2010, the Company’s shareholders approved the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan authorizes the Company to issue Options and RSUs to key management employees, including executive officers and Board members.  Of the 700 aggregate shares available to issue, up to 240 may be granted in the form of RSUs.  There were 308 Options and 51 RSUs outstanding as of December 31, 2015. Of the 39 shares available to be issued under the 2010 Plan, 36 may be granted as RSUs.

(2) During 2014, the Company’s shareholders approved the NVR, Inc. 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the Company to issue Options to key management employees, including executive officers and Board members. Option grants under the 2014 Plan are generally divided such that vesting for 50% of the Option grant is solely contingent upon continued employment or continued service as a Director, while vesting for the remaining 50% of the Option grant is contingent upon both continued employment or service as a Director and the achievement of a performance metric.  The performance metric is based on the Company’s return on capital performance during a specified three year period based on the date of Option grant, with the initial performance period being 2014 through 2016.  Options granted under the 2014 Plan generally vest annually over four years in 25% increments beginning on December 31, 2016.

Equity-Based Compensation Plans

The following table provides additional information relative to NVR’s equity-based compensation plans for the year ended December 31, 2015:

	Shares			WeightedAvg. Per Share ExercisePrice		WeightedAvg.Remaining ContractLife(years)		Aggregate IntrinsicValue
Stock Options
Outstanding at December 31, 2014		1,201		$	947.39
Granted		48			1,417.22
Exercised		(129	)		663.96
Forfeited		(24	)		1,060.29
Outstanding at December 31, 2015		1,096		$	998.88		7.4	$	705,684
Exercisable at December 31, 2015		272		$	721.35		4.8	$	250,617
RSUs
Outstanding at December 31, 2014		55
Granted		—
Vested		(2	)
Forfeited		(2	)
Outstanding at December 31, 2015		51						$	83,340
Vested, but not issued at December 31, 2015		33						$	53,710

Black-Scholes Option-Pricing Model Assumptions

The fair value of the Options granted during 2015, 2014 and 2013 was estimated on the grant date using the Pricing Model, based on the following assumptions:

	2015		2014		2013
Estimated option life	5.17 years		5.16 years		5.20 years
Risk free interest rate (range)	1.04%-2.07%		1.06%-2.49%		0.42%-2.10%
Expected volatility (range)	17.00%-26.79%		18.26%-30.57%		17.98%-32.72%
Expected dividend rate		0.00%		0.00%		0.00%
Weighted average grant-date fair value per share of    options granted	$	296.50	$	267.66	$	268.13

Exercised Option Proceeds

Information with respect to the vested RSUs and exercised Options is as follows:

	Year Ended December 31,
	2015		2014		2013
Aggregate exercise proceeds (1)	$	85,948	$	76,153	$	14,834
Aggregate intrinsic value on exercise dates	$	99,288	$	62,136	$	84,908

(1) Aggregate exercise proceeds include the Option exercise price received in cash or the fair market value of NVR stock surrendered by the optionee in lieu of cash.