Capital Stock and Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Unamortized Value of Restricted Stock

The unamortized value of $6.4 million at June 30, 2017, if all are ultimately vested, would be amortized according to the following schedule. The fair value of the Exec Grants will vest and be recognized on the date of the consummation of a Qualified Acquisition. Additionally, any Exec Additional Shares required to be issued, would be issued and immediately vest on the date of the consummation of a Qualified Acquisition.

Amortization Schedule (in thousands)	June 30, 2017 unamortized dollar value
3rd quarter 2017	$	103
4th quarter 2017		103
1st quarter 2018		98
2nd quarter 2018		71
3rd quarter 2018		71
4th quarter 2018		71
1st quarter 2019		66
2nd quarter 2019		36
3rd quarter 2019		36
4th quarter 2019		36
1st quarter 2020		31
Unamortized fair-value - subject to vesting schedule		722
Unamortized fair-value - event dependent		5,714
Total unamortized dollar value		6,436

Summary of Company's Restricted Stock Award Activity

A summary of WMIH’s restricted stock award activity for the six months ended June 30, 2017 and year ended December 31, 2016 is presented below:

	Number of restricted stock awards outstanding		Weighted-average grant date fair value		Aggregate fair value (in thousands)
Outstanding—January 1, 2016		6,168,035		2.1230		13,095
Restricted stock awards granted during 2016		212,765		2.3500		500
Restricted stock awards released or forfeited during 2016		—		—		—
Outstanding—December 31, 2016		6,380,800	$	2.1306	$	13,595
Restricted stock awards granted during 2017		333,332		1.2000		400
Restricted stock awards released or forfeited during 2017		—		—		—
Outstanding—June 30, 2017		6,714,132	$	2.0844	$	13,995

Schedule of Vesting Shares Subject to Repurchase

The Exec Grants vest upon future events, and are not time specific, and for this reason we have used 1st quarter 2018 as the vesting date in the following table as this date corresponds with the Series B Preferred Stock potential redemption date. The shares subject to repurchase at June 30, 2017 will vest, assuming circumstances remain unchanged, according to the following schedule:

Vesting schedule of shares subject to repurchase	June 30, 2017 unvested shares
3rd quarter 2017		—
4th quarter 2017		—
1st quarter 2018		3,774,684
2nd quarter 2018		—
3rd quarter 2018		—
4th quarter 2018		—
1st quarter 2019		167,848
2nd quarter 2019		—
3rd quarter 2019		—
4th quarter 2019		—
1st quarter 2020		111,108
Total unvested shares		4,053,640

Summary of WMIH's Restricted Shares Issued and Subject to Repurchase

A summary of WMIH’s restricted shares issued and subject to repurchase as of June 30, 2017 and December 31, 2016 is presented below:

Vesting schedule of shares subject to repurchase	Unvested shares
Shares subject to repurchase—January 1, 2016		4,197,396
Shares issued subject to vesting during 2016		212,765
Unvested shares repurchased during 2016		—
Shares vested during 2016		(370,570	)
Shares subject to repurchase—December 31, 2016		4,039,591
Shares issued subject to vesting during 2017		333,332
Unvested shares repurchased during 2017		—
Shares vested during 2017		(319,283	)
Shares subject to repurchase—June 30, 2017		4,053,640