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Equity-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Equity-Based Compensation Included In Compensation And Benefits |
EQUITY-BASED COMPENSATION INCLUDED IN COMPENSATION AND BENEFITS
(Dollars in Thousands)
|  | For the year ended December 31,
|  | 2013 |  | 2012 |  | 2011
Equity-based compensation expense |  | $ | 1,947 |  | $ | 1,271 |  | $ | 7,674
Non equity-based compensation expense |  |  | 45,220 |  |  | 61,680 |  |  | 70,553
Total compensation and benefits |  | $ | 47,167 |  | $ | 62,951 |  | $ | 78,227
Period Costs by Plan Name or Instrument |
DETAIL OF EQUITY BASED COMPENSATION BY PLAN
|  | For the year ended December 31,
|  | 2013 |  | 2012 |  | 2011
The 2009 Equity Award Plan |  | $ | - |  | $ | (586) |  | $ | 400
Operating LLC Units - JVB Acquisition |  |  | 911 |  |  | 911 |  |  | 879
Restricted Units - 2006/2010 Plans |  |  | 905 |  |  | 1,290 |  |  | 5,708
Options - 2010 Plan |  |  | 114 |  |  | - |  |  | -
Restricted PrinceRidge units (1) |  |  | 17 |  |  | (344) |  |  | 687
Total equity based compensation expense |  | $ | 1,947 |  | $ | 1,271 |  | $ | 7,674
| (1) |  | Relates to the issuance of restricted PrinceRidge units to certain investment banking professionals and executives of PrinceRidge. As of December 31, 2013, there were no restricted PrinceRidge units outstanding.
Stock Options, Activity |
STOCK OPTIONS - SERVICE BASED VESTING
|  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (1)
Balance at January 1, 2013 |  |  | - |  | $ | - |  |  |  |  |  |
Granted (2) |  |  | 3,000,000 |  |  | 4.00 |  |  |  |  |  |
Vested |  |  | - |  |  | - |  |  |  |  |  |
Forfeited |  |  | - |  |  | - |  |  |  |  |  |
Balance at December 31, 2013 |  |  | 3,000,000 |  | $ | 4.00 |  |  | 4.8 |  | $ | -
Exercisable at December 31, 2013 |  |  | - |  | $ | - |  |  | - |  | $ | -
| (1) |  | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing stock price of the Company’s Common Stock of $1.98 on December 31, 2013. As of December 31, 2013, all options were out of the money.
| (2) |  | Of the options granted, 2,500,000 stock options are subject to stockh older approval during the Company’s 2014 Annual Meeting of Stockholders.
Service Based Vesting [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Restricted Stock and Restricted Stock Units Activity |
RESTRICTED STOCK AND RESTRICTED UNITS - SERVICE BASED VESTING
|  | Number of Shares of Restricted Stock |  | Weighted average grant date fair value |  | Number of Restricted Units |  | Weighted average grant date fair value
Unvested at January 1, 2013 |  |  | 427,057 |  | $ | 1.87 |  |  | 172,585 |  | $ | 1.92
Granted |  |  | 408,079 |  |  | 1.98 |  |  | - |  |  | -
Vested |  |  | (522,008) |  |  | 1.62 |  |  | (40,135) |  |  | 3.26
Forfeited |  |  | (1,828) |  |  | 4.89 |  |  | - |  |  | -
Unvested at December 31, 2013 |  |  | 311,300 |  | $ | 2.42 |  |  | 132,450 |  | $ | 1.51
Performance and Service Based Vesting [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Restricted Stock and Restricted Stock Units Activity |
RESTRICTED STOCK AND RESTRICTED UNITS - PERFORMANCE AND SERVICE BASED VESTING
|  | Number of Shares of Restricted Stock |  | Weighted average grant date fair value |  | Number of Restricted Units (1) |  | Weighted average grant date fair value
Unvested at January 1, 2013 |  |  | 330,769 |  | $ | 4.34 |  |  | 500,000 |  | $ | -
Granted |  |  | - |  |  | - |  |  | 50,000 |  |  | 2.42
Vested |  |  | (127,788) |  |  | 4.34 |  |  | (50,000) |  |  | 2.42
Forfeited (2) |  |  | (103,155) |  |  | 4.89 |  |  | - |  |  | -
Unvested at December 31, 2013 |  |  | 99,826 |  | $ | 3.78 |  |  | 500,000 |  | $ | -
(1)During the first quarter of 2012, the Company issued 500,000 restricted units of IFMI Common Stock to a non-employee. FASB ASC 505-50 requires that an equity instrument issued to a non-employee should be measured by using the stock price and other measurement assumptions as of the earlier of the date at which either: (i) a commitment for performance by the counterparty has been reached; or (2) the counterparty’s performance is complete. In accordance with FASB ASC 505-50, the Company will not accrue any expense until the actual vesting date occurs. As of the grant date, the restricted units were valued at $0. (2)During the year ended December 31, 2013, there were 103,155 shares of Restricted Stock that were forfeited due to the fact that the grantees were unable to achieve certain performance thresholds, and therefore, the awards would never vest.

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