XML 102 R138.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Compensation and Benefit Plan - Schedule of Stock Option Activity (Details) (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Outstanding 8,938,179 7,894,728 8,084,953
Outstanding (in Dollars per share) $ 9.93 $ 5.48 $ 5.03
Exercisable at end of year 5,733,864 [1],[2],[3] 5,569,432 [1],[2],[3] 4,947,228 [1],[2],[3]
Exercisable at end of year (in Dollars per share) $ 6.53 [1],[2],[3] $ 5.04 [1],[2],[3] $ 4.91 [1],[2],[3]
Granted 50,000 [4] 2,160,000 [4] 545,000 [4]
Granted (in Dollars per share) $ 51.70 [4] $ 23.92 [4] $ 12.83 [4]
Forfeited (15,000)      
Forfeited (in Dollars per share) $ 15.27      
Outstanding   8,938,179 7,894,728
Outstanding (in Dollars per share)   $ 9.93 $ 5.48
Stock Options [Member]
      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Outstanding 8,938,179 [1],[2] 7,894,728 [1],[2]  
Outstanding (in Dollars per share) $ 9.93 [1],[2] $ 5.48 [1],[2]  
Exercised (790,568) [5],[6] (1,116,549) [5],[6] (735,225) [5],[6]
Exercised (in Dollars per share) $ 5.35 [5],[6] $ 3.56 [5],[6] $ 6.01 [5],[6]
Outstanding 8,182,611 [1],[2] 8,938,179 [1],[2] 7,894,728 [1],[2]
Outstanding (in Dollars per share) $ 10.62 [1],[2] $ 9.93 [1],[2] $ 5.48 [1],[2]
[1] At December 31, 2013, the weighted average remaining contractual term of options outstanding and options exercisable was 5.7 years and 4.7 years, respectively.
[2] Excluding 547,500 market-based options that have not met their performance criteria, the net aggregate intrinsic value of stock options outstanding and stock options exercisable at December 31, 2013 was $351.0 million and $280.5 million, respectively. A total of 5,933,125 market-based options were outstanding at December 31, 2013, of which 3,960,002 were exercisable.
[3] The total fair value of the stock options that vested and became exercisable during 2013, 2012 and 2011, based on grant-date fair value, was $4.7 million, $2.2 million and $1.3 million, respectively.
[4] Stock options granted in 2012 include 2,000,000 options granted to Ocwen’s Executive Chairman of the Board of Directors, William C. Erbey at an exercise price of $24.38 equal to the closing price of the stock on the day of the Committee’s approval. See Note 26 — Related Party Transactions for additional information regarding Mr. Erbey’s stock and stock option holdings.
[5] The total intrinsic value of stock options exercised, which is defined as the amount by which the market value of the stock on the date of exercise exceeds the exercise price, was $35.3 million, $23.9 million and $4.1 million for 2013, 2012 and 2011, respectively.
[6] In connection with the exercise of stock options during 2013, 2012 and 2011, employees delivered 138,553, 33,605 and 324,248 shares, respectively, of common stock to Ocwen as payment for the exercise price and the income tax withholdings on the compensation. As a result, a total of 652,015, 1,082,944 and 410,977 net shares of stock were issued in 2013, 2012 and 2011, respectively, related to the exercise of stock options.