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Mack-Cali Realty Corporation Stockholders' Equity (Tables)
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3 Months Ended |
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Mar. 31, 2014
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| Mack-Cali Realty Corporation Stockholders' Equity [Abstract] |
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| Schedule Of Stock Option Plans |
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Shares
Under Options
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Weighted Average Exercise Price
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Aggregate Intrinsic Value $(000’s)
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Outstanding at January 1, 2014
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15,000
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$
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40.54
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$
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-
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Granted
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5,000
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21.25
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-
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Lapsed or Cancelled
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(5,000)
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40.55
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-
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Outstanding at March 31, 2014 ($21.25 – $45.47)
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15,000
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$
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34.10
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$
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-
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Options exercisable at March 31, 2014
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10,000
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Available for grant at March 31, 2014
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4,460,505
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| Schedule Of Weighted Average Assumptions |
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Expected life (in years)
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6
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Risk-free interest rate
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1.50
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%
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Volatility
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20.26
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%
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Dividend yield
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5.65
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%
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| Schedule Of Restricted Stock Awards |
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Weighted-Average
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Grant – Date
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Shares
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Fair Value
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Outstanding at January 1, 2014 (a)
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153,560
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$
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25.20
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Granted (b)
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163,527
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20.94
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Vested
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(28,485)
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25.28
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Forfeited
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(119)
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26.36
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Outstanding at March 31, 2014
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288,483
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$
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22.77
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(a)Includes 63,933 Performance Shares which were legally granted in 2013 for which the 2013 performance goals were not met, which may be earned if subsequent years’ performance goals are met.
(b)Includes 42,000 Performance Shares which were legally granted in 2013 for which the 2014 performance goals were set by the Committee on March 31, 2014. Also includes 87,734 shares which were additionally granted to two executive officers in connection with their departure affective March 31, 2014 and which vested on April 1, 2014.
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| Schedule Of Basic And Diluted Earnings Per Share |
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Three Months Ended
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March 31,
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Computation of Basic EPS
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2014
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2013
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Income (loss) from continuing operations
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$
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(17,628)
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$
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7,956
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Add: Noncontrolling interest in consolidated joint ventures
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322
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62
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Add (deduct): Noncontrolling interest in Operating Partnership
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2,008
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(973)
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Income (loss) from continuing operations available to common shareholders
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(15,298)
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7,045
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Income from discontinued operations available to common shareholders
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-
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4,511
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Net income (loss) available to common shareholders
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$
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(15,298)
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$
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11,556
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Weighted average common shares
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88,289
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87,669
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Basic EPS:
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Income (loss) from continuing operations available to common shareholders
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$
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(0.17)
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$
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0.08
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Income from discontinued operations available to common
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shareholders
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-
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0.05
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Net income (loss) available to common shareholders
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$
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(0.17)
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$
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0.13
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Three Months Ended
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March 31,
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Computation of Diluted EPS
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2014
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2013
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Income (loss) from continuing operations available to common shareholders
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$
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(15,298)
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$
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7,045
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(Deduct) add: Noncontrolling interest in Operating Partnership
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(2,008)
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973
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Income (loss) from continuing operations for diluted earnings per share
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(17,306)
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8,018
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Income from discontinued operations for diluted earnings per share
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-
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5,133
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Net income (loss) available to common shareholders
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$
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(17,306)
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$
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13,151
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Weighted average common shares
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99,876
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99,849
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Diluted EPS:
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Income (loss) from continuing operations available to common shareholders
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$
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(0.17)
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$
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0.08
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Income from discontinued operations available to common
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shareholders
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-
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0.05
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Net income (loss) available to common shareholders
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$
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(0.17)
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$
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0.13
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The following schedule reconciles the shares used in the basic EPS calculation to the shares used in the diluted EPS calculation: (in thousands)
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Three Months Ended
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March 31,
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2014
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2013
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Basic EPS shares
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88,289
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87,669
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Add: Operating Partnership – common units
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11,587
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12,098
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Restricted Stock Awards
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-
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82
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Diluted EPS Shares
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99,876
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99,849
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