| | | | Sincerely, | |
| | | | | |
| | | | Alan B. Levan | |
| | | | Chairman of the Board | |
| | | |
| | | | Sincerely yours, | |
| | | | | |
| | | | Alan B. Levan | |
| | | | Chairman of the Board | |
| | | |
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Director since 1978 |
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| Name | | | Position | | |||
---|---|---|---|---|---|---|---|---|
Alan B. Levan | | | Chairman, | | ||||
| John E. Abdo | | | Vice Chairman | | |||
| Jarett S. Levan | | | Executive Vice President and Director | | |||
| Seth M. Wise | | | Executive Vice President and Director | | |||
| John K. Grelle | | | Executive Vice President, | ||||
Chief Accounting Officer and Chief Risk Officer | | |||||||
| | | |
11
For the Year Ended December 31, 2010 | ||||||||||||||
BankAtlantic | ||||||||||||||
BFC | Bancorp | Bluegreen | ||||||||||||
(In thousands) | ||||||||||||||
Shared service income (expense) | (a) | 2,565 | (2,105 | ) | (460 | ) | ||||||||
Facilities cost and information technology | (b) | (544 | ) | 484 | 60 |
For the Year Ended December 31, 2009 | ||||||||||||||
BankAtlantic | ||||||||||||||
BFC | Bancorp | Bluegreen | ||||||||||||
(In thousands) | ||||||||||||||
Shared service income (expense) | (a) | 2,342 | (1,805 | ) | (537 | ) | ||||||||
Facilities cost and information technology | (b) | (553 | ) | 479 | 54 |
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| | | | | | For the Year Ended December 31, 2013 | | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | BFC | | | BBX Capital | | | Bluegreen | | |||||||||||||||||
| Shared service income (expense) | | | | | (a | ) | | | | | $ | 501 | | | | | | (200 | ) | | | | | | (301 | ) | | | |
| Facilities cost and information technology | | | | | (b | ) | | | | | $ | (431 | ) | | | | | | 431 | | | | | | — | | | ||
| | | | | | | | | | | | | | |
| | | | | | For the Year Ended December 31, 2012 | | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | BFC | | | BBX Capital | | | Bluegreen | | |||||||||||||||||
| Shared service income (expense) | | | | | (a | ) | | | | | $ | 1,001 | | | | | | (623 | ) | | | | | | (378 | ) | | | |
| Facilities cost and information technology | | | | | (b | ) | | | | | $ | (219 | ) | | | | | | 188 | | | | | | 31 | | | ||
| | | | | | | | | | | | | | |
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As of December 31, 2010 | As of December 31, 2009 | |||||||||||||||
BankAtlantic | BankAtlantic | |||||||||||||||
Bancorp’s | Weighted | Bancorp’s | Weighted | |||||||||||||
Class A | Average | Class A | Average | |||||||||||||
Common | Exercise | Common | Exercise | |||||||||||||
Stock | Price | Stock | Price | |||||||||||||
Options outstanding | 47,761 | $ | 55.26 | 45,476 | $ | 53.57 | ||||||||||
Non-vested restricted stock | 75,000 | $ | — | — | $ | — |
14
| Name and Principal Position | | | Source(1) | | | Year | | | Salary ($) | | | Bonus ($)(2) | | | Stock Awards ($) | | | Option Awards ($) | | | Non-equity Incentive Plan Compensation ($) | | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | | All Other Compensation ($) | | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Alan B. Levan, Chairman of the Board, President and Chief Executive Officer | | | | | BFC | | | | | | 2013 | | | | | | 750,000 | | | | | | 1,500,000 | | | | | | 335,650 | (3) | | | | | | — | | | | | | — | | | | | | — | | | | | | 257,768 | (6) | | | | | | 2,843,418 | | | ||||||||
| | | BBX | | | | | | 2013 | | | | | | 750,000 | | | | | | 1,500,000 | | | | | | 1,910,629 | (4) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,160,629 | | | ||||||||||||
| | | BXG | | | | | | 2013 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 100 | | | | | | 100 | | | |||||||||||||
| | | | | | | | | | | | | | | 1,500,000 | | | | | | 3,000,000 | | | | | | 2,246,279 | | | | | | — | | | | | | — | | | | | | — | | | | | | 257,868 | | | | | | 7,004,147 | | | |||||||||||||
| | | BFC | | | | | | 2012 | | | | | | 978,240 | | | | | | 2,200,000 | | | | | | 1,463,157 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | 251,709 | | | | | | 4,893,106 | | | ||||||||||||
| | | BBX | | | | | | 2012 | | | | | | 598,741 | | | | | | 2,600,000 | | | | | | 2,468,053 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,710 | | | | | | 5,669,504 | | | ||||||||||||
| | | BXG | | | | | | 2012 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 100 | | | | | | 100 | | | |||||||||||||
| | | | | | | | | | | | | | | 1,576,981 | | | | | | 4,800,000 | | | | | | 3,931,210 | | | | | | — | | | | | | — | | | | | | — | | | | | | 254,519 | | | | | | 10,562,710 | | | |||||||||||||
| John E. Abdo, Vice Chairman of the Board | | | | | BFC | | | | | | 2013 | | | | | | 750,000 | | | | | | 1,500,000 | | | | | | 335,650 | (3) | | | | | | — | | | | | | — | | | | | | — | | | | | | 306,240 | (7) | | | | | | 2,891,890 | | | ||||||||
| | | BBX | | | | | | 2013 | | | | | | 750,000 | | | | | | 1,500,000 | | | | | | 1,910,629 | (4) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,160,629 | | | ||||||||||||
| | | BXG | | | | | | 2013 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,788 | | | | | | 7,788 | | | |||||||||||||
| | | | | | | | | | | | | | | 1,500,000 | | | | | | 3,000,000 | | | | | | 2,246,279 | | | | | | — | | | | | | — | | | | | | — | | | | | | 314,028 | | | | | | 7,060,307 | | | |||||||||||||
| | | BFC | | | | | | 2012 | | | | | | 978,240 | | | | | | 2,200,000 | | | | | | 1,463,157 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | 306,240 | | | | | | 4,947,637 | | | ||||||||||||
| | | BBX | | | | | | 2012 | | | | | | 598,741 | | | | | | 2,600,000 | | | | | | 2,468,053 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,666,794 | | | ||||||||||||
| | | BXG | | | | | | 2012 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,170 | | | | | | 7,170 | | | |||||||||||||
| | | | | | | | | | | | | | | 1,576,981 | | | | | | 4,800,000 | | | | | | 3,931,210 | | | | | | — | | | | | | — | | | | | | — | | | | | | 313,410 | | | | | | 10,621,601 | | | |||||||||||||
| Jarett S. Levan, Executive Vice President | | | | | BFC | | | | | | 2013 | | | | | | 375,000 | | | | | | 300,000 | | | | | | 166,600 | (3) | | | | | | — | | | | | | — | | | | | | — | | | | | | 52,000 | (8) | | | | | | 893,600 | | | ||||||||
| | | BBX | | | | | | 2013 | | | | | | 375,000 | | | | | | 300,000 | | | | | | 955,321 | (4) | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,772 | | | | | | 1,643,093 | | | ||||||||||||
| | | BXG | | | | | | 2013 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||||||||||||
| | | | | | | | | | | | | | | 750,000 | | | | | | 600,000 | | | | | | 1,121,921 | | | | | | — | | | | | | — | | | | | | — | | | | | | 64,772 | | | | | | 2,536,693 | | | |||||||||||||
| | | BFC | | | | | | 2012 | | | | | | 144,231 | | | | | | 350,000 | | | | | | 731,579 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | 52,000 | | | | | | 1,277,810 | | | ||||||||||||
| | | BBX | | | | | | 2012 | | | | | | 331,699 | | | | | | 950,000 | | | | | | 1,234,033 | (5) | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,027 | | | | | | 2,533,759 | | | ||||||||||||
| | | BXG | | | | | | 2012 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||||||||||||
| | | | | | | | | | | | | | | 475,930 | | | | | | 1,300,000 | | | | | | 1,965,612 | | | | | | — | | | | | | — | | | | | | — | | | | | | 70,027 | | | | | | 3,811,569 | | | |||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
15
16
Option Awards | ||||||||||||||||||||
Equity | ||||||||||||||||||||
Incentive | ||||||||||||||||||||
Plan Awards: | ||||||||||||||||||||
Number of | Number of | Number of | ||||||||||||||||||
Securities | Securities | Securities | ||||||||||||||||||
Underlying | Underlying | Underlying | ||||||||||||||||||
Unexercised | Unexercised | Unexercised | Option | Option | ||||||||||||||||
Options | Options | Unearned | Exercise | Expiration | ||||||||||||||||
Name | Exercisable | Unexercisable | Options | Price | Date | |||||||||||||||
Alan B. Levan | 210,579 | (1)(3) | — | N/A | $ | 0.41 | (9) | 2/7/2013 | ||||||||||||
93,750 | (1)(4) | — | $ | 0.41 | (9) | 7/28/2014 | ||||||||||||||
38,170 | (2)(5) | 114,510 | (2)(5) | $ | 0.41 | 9/21/2014 | ||||||||||||||
75,000 | (2)(6) | — | $ | 0.41 | (9) | 7/11/2015 | ||||||||||||||
— | 75,000 | (2)(7) | $ | 0.41 | (9) | 6/5/2016 | ||||||||||||||
— | 75,000 | (2)(8) | $ | 0.41 | (9) | 6/4/2017 | ||||||||||||||
John E. Abdo | 210,579 | (1)(3) | — | N/A | $ | 0.41 | (9) | 2/7/2013 | ||||||||||||
93,750 | (1)(4) | — | $ | 0.41 | (9) | 7/28/2014 | ||||||||||||||
46,845 | (2)(5) | 140,535 | (2)(5) | $ | 0.41 | 9/21/2014 | ||||||||||||||
75,000 | (2)(6) | — | $ | 0.41 | (9) | 7/11/2015 | ||||||||||||||
— | 75,000 | (2)(7) | $ | 0.41 | (9) | 6/5/2016 | ||||||||||||||
— | 75,000 | (2)(8) | $ | 0.41 | (9) | 6/4/2017 | ||||||||||||||
Seth M. Wise | 19,956 | (2)(5) | 59,868 | (2)(5) | N/A | $ | 0.41 | 9/21/2014 |
| | | | Option Awards | | | Stock Awards(2) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | Number of Securities Underlying Unexercised Options | | | Number of Securities Underlying Unexercised Options | | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options | | | Option Exercise Price | | | Option Expiration Date | | | Number of Shares or Units of Stock that have not Vested | | | Market Value of Shares or Units of Stock that have not Vested | | | Equity Incentive Plan Awards Number of Unearned Shares, Units or Other Rights that have not Vested | | | Equity Incentive Plan Awards Market or Payout Value or Unearned Shares, Units or Other Rights that have not Vested | | ||||||||||||||||||||||||||||||||||||
| Name | | | Exercisable | | | Unexercisable | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alan B. Levan(12) | | | | | 93,750 | (1)(3) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 7/28/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | | 152,680 | (2)(4) | | | | | | | | | | | | | | | | | $ | 0.41 | | | | | | 9/21/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
| | | 75,000 | (2)(5) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 7/11/2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | 75,000 | (2)(6) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 6/5/2016 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | 75,000 | (2)(7) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 6/4/2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 450,000 | (9) | | | | | $ | 1,300,500 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,389,073 | (10) | | | | | $ | 4,014,421 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 137,000 | (11) | | | | | $ | 395,930 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| John E. Abdo(12) | | | | | 93,750 | (1)(3) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 7/28/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | | 187,380 | (2)(4) | | | | | | | | | | | | | | | | | $ | 0.41 | | | | | | 9/21/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
| | | 75,000 | (2)(5) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 7/11/2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | 75,000 | (2)(6) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 6/5/2016 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | 75,000 | (2)(7) | | | | | | | | | | | | | | | | | $ | 0.41 | (8) | | | | | | 6/4/2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 450,000 | (9) | | | | | $ | 1,300,500 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,389,073 | (10) | | | | | $ | 4,014,421 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 137,000 | (11) | | | | | $ | 395,930 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| Jarett S. Levan(12) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 112,500 | (9) | | | | | $ | 325,125 | | | | | | N/A | | | | | | N/A | | | ||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 694,537 | (10) | | | | | $ | 2,007,212 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 68,000 | (11) | | | | | $ | 196,520 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
17
Option Awards | Stock Awards | |||||||||||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||||||
Equity | Incentive | |||||||||||||||||||||||||||||||||||
Incentive | Plan | |||||||||||||||||||||||||||||||||||
Plan | Awards: | |||||||||||||||||||||||||||||||||||
Awards: | Market or | |||||||||||||||||||||||||||||||||||
Equity | Number of | Payout | ||||||||||||||||||||||||||||||||||
Incentive | Unearned | Value of | ||||||||||||||||||||||||||||||||||
Plan Awards: | Market | Shares, | Unearned | |||||||||||||||||||||||||||||||||
Number of | Number of | Number of | Number of | Value of | Units or | Shares, | ||||||||||||||||||||||||||||||
Securities | Securities | Securities | Shares or | Shares or | Other | Units or | ||||||||||||||||||||||||||||||
Underlying | Underlying | Underlying | Units of | Units of | Rights | Other | ||||||||||||||||||||||||||||||
Unexercised | Unexercised | Unexercised | Option | Option | Stock That | Stock That | That | Rights That | ||||||||||||||||||||||||||||
Options(1) | Options | Unearned | Exercise | Expiration | Have Not | Have Not | Have Not | Have Not | ||||||||||||||||||||||||||||
Name | Exercisable | Unexercisable | Options | Price | Date | Vested | Vested | Vested | Vested | |||||||||||||||||||||||||||
Alan B. Levan | 15,676 | (3) | — | N/A | $ | 42.79 | 3/4/2012 | |||||||||||||||||||||||||||||
15,676 | (4) | — | $ | 37.05 | 3/31/2013 | |||||||||||||||||||||||||||||||
12,000 | (5) | — | $ | 91.00 | 7/5/2014 | |||||||||||||||||||||||||||||||
12,000 | (6) | — | $ | 95.10 | 7/11/2015 | |||||||||||||||||||||||||||||||
— | — | — | — | 250,000 | $ | 287,500 | (7) | N/A | N/A | |||||||||||||||||||||||||||
John E. Abdo | 10,451 | (3) | — | N/A | $ | 42.79 | 3/4/2012 | |||||||||||||||||||||||||||||
10,451 | (4) | — | $ | 37.05 | 3/31/2013 | |||||||||||||||||||||||||||||||
8,000 | (5) | — | $ | 91.00 | 7/5/2014 | |||||||||||||||||||||||||||||||
8,000 | (6) | — | $ | 95.10 | 7/11/2015 | |||||||||||||||||||||||||||||||
— | — | — | — | 250,000 | $ | 287,500 | (7) | N/A | N/A | |||||||||||||||||||||||||||
Seth M. Wise | 2,613 | (2) | — | N/A | $ | 14.83 | 1/2/2011 | |||||||||||||||||||||||||||||
2,613 | (3) | — | $ | 42.79 | 3/4/2012 | |||||||||||||||||||||||||||||||
2,613 | (4) | — | $ | 37.05 | 3/31/2013 | |||||||||||||||||||||||||||||||
1,000 | (5) | — | $ | 91.00 | 7/5/2014 |
| | | | Option Awards(1) | | | Stock Awards(1) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | Number of Securities Underlying Unexercised Options | | | Number of Securities Underlying Unexercised Options | | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options | | | Option Exercise Price | | | Option Expiration Date | | | Number of Shares or Units of Stock that have not Vested | | | Market Value of Shares or Units of Stock that have not Vested | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that have not Vested | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have not Vested | | ||||||||||||||||||||||||||||||||||||
| Name | | | Unexercisable | | | Exercisable | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alan B. Levan | | | | | 2,400 | (2) | | | | | | | | | | | | | | | | | $ | 455.00 | | | | | | 7/5/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 2,400 | (3) | | | | | | | | | | | | | | | | | $ | 475.00 | | | | | | 7/11/2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,500 | (4) | | | | | $ | 195,000 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | �� | | 282,601 | (5) | | | | | $ | 4,408,576 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 143,333 | (6) | | | | | $ | 2,235,995 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| John E. Abdo | | | | | 1,600 | (2) | | | | | | | | | | | | | | | | | $ | 455.00 | | | | | | 7/5/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 1,600 | (3) | | | | | | | | | | | | | | | | | $ | 475.50 | | | | | | 7/11/2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,500 | (4) | | | | | $ | 195,000 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 282,601 | (5) | | | | | $ | 4,408,576 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 143,333 | (6) | | | | | $ | 2,235,995 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| Jarett S. Levan | | | | | 601 | (2) | | | | | | | | | | | | | | | | | $ | 455.00 | | | | | | 7/5/2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||
| | | 600 | (3) | | | | | | | | | | | | | | | | | $ | 475.50 | | | | | | 7/11/2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,500 | (4) | | | | | $ | 117,000 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 141,300 | (5) | | | | | $ | 2,204,280 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 71,667 | (6) | | | | | $ | 1,118,005 | | | | | | N/A | | | | | | N/A | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)
(2)
(3)
(4)
| ||
18
Option Awards | Stock Awards | |||||||||||||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||||||||||||||
Incentive | ||||||||||||||||||||||||||||||||||||
Plan | ||||||||||||||||||||||||||||||||||||
Equity | Awards: | |||||||||||||||||||||||||||||||||||
Incentive | Market or | |||||||||||||||||||||||||||||||||||
Equity | Plan Awards: | Payout | ||||||||||||||||||||||||||||||||||
Incentive | Number of | Value of | ||||||||||||||||||||||||||||||||||
Plan Awards: | Market | Unearned | Unearned | |||||||||||||||||||||||||||||||||
Number of | Number of | Number of | Number of | Value of | Shares, | Shares, | ||||||||||||||||||||||||||||||
Securities | Securities | Securities | Shares or | Shares or | Units or | Units or | ||||||||||||||||||||||||||||||
Underlying | Underlying | Underlying | Units of | Units of | Other | Other | ||||||||||||||||||||||||||||||
Unexercised | Unexercised | Unexercised | Option | Option | Stock That | Stock That | Rights That | Rights That | ||||||||||||||||||||||||||||
Options | Options | Unearned | Exercise | Expiration | Have Not | Have Not | Have Not | Have Not | ||||||||||||||||||||||||||||
Name | Exercisable | Unexercisable | Options | Price | Date | Vested | Vested | Vested | Vested | |||||||||||||||||||||||||||
Alan B. Levan | 50,000 | (1) | — | N/A | $ | 18.36 | 7/20/2015 | |||||||||||||||||||||||||||||
— | 50,000 | (2) | $ | 12.07 | 7/19/2016 | |||||||||||||||||||||||||||||||
— | 50,000 | (3) | $ | 11.98 | 7/18/2017 | |||||||||||||||||||||||||||||||
— | 71,000 | (4) | $ | 7.50 | 5/21/2015 | |||||||||||||||||||||||||||||||
— | 50,000 | (5) | $ | 9.31 | 5/21/2018 | |||||||||||||||||||||||||||||||
— | — | — | — | 71,000 | (4) | $ | 228,620 | N/A | N/A | |||||||||||||||||||||||||||
John E. Abdo | 50,000 | (1) | — | N/A | $ | 18.36 | 7/20/2015 | |||||||||||||||||||||||||||||
— | 50,000 | (2) | $ | 12.07 | 7/19/2016 | |||||||||||||||||||||||||||||||
— | 50,000 | (3) | $ | 11.98 | 7/18/2017 | |||||||||||||||||||||||||||||||
— | 71,000 | (4) | $ | 7.50 | 5/21/2015 | |||||||||||||||||||||||||||||||
— | 50,000 | (5) | $ | 9.31 | 5/21/2018 | |||||||||||||||||||||||||||||||
— | — | — | — | 71,000 | (4) | $ | 228,620 | N/A | N/A |
Present Value | ||||||||||||||||
Number of Years | of Accumulated | Payments During | ||||||||||||||
Name | Plan Name | Credited Service | Benefit(1) | Last Fiscal Year | ||||||||||||
Alan B. Levan | Retirement Plan for Employees of BankAtlantic | 26 | $ | 1,041,989 | (2) | $ | 0 | |||||||||
John E. Abdo | Retirement Plan for Employees of BankAtlantic | 14 | 432,924 | (2) | 0 |
19
Estimated Annual Benefits | ||||||||||||||||||||
Average Five Year Compensation | Years of Credited Service at December 31, 1998 | |||||||||||||||||||
at December 31, 1998 | 5 Years | 10 Years | 20 Years | 30 Years | 40 Years | |||||||||||||||
$120,000 | $ | 10,380 | $ | 20,760 | $ | 41,520 | $ | 62,280 | $ | 83,160 | ||||||||||
$150,000 | 13,005 | 26,010 | 52,020 | 78,030 | 104,160 | |||||||||||||||
$160,000 and above | 13,880 | 27,760 | 55,520 | 83,280 | 111,160 |
20
Change in | ||||||||||||||||||||||||||||
Pension Value | ||||||||||||||||||||||||||||
Fees | and Nonqualified | |||||||||||||||||||||||||||
Earned | Stock | Non-Equity | Deferred | |||||||||||||||||||||||||
or Paid | Awards | Option | Incentive Plan | Compensation | All Other | |||||||||||||||||||||||
in Cash($) | ($) | Awards($)(1) | Compensation($) | Earnings($) | Compensation($) | Total($) | ||||||||||||||||||||||
James Blosser (2) | 73,500 | — | — | — | — | — | 73,500 | |||||||||||||||||||||
D. Keith Cobb (3) | 73,500 | — | — | — | — | — | 73,500 | |||||||||||||||||||||
Darwin Dornbush | 70,000 | — | — | — | — | — | 70,000 | |||||||||||||||||||||
Oscar Holzmann | 80,000 | — | — | — | — | — | 80,000 | |||||||||||||||||||||
Jarett S. Levan | — | — | — | — | — | 54,808 | (4) | 54,808 | ||||||||||||||||||||
Alan J. Levy | 70,000 | — | — | — | — | — | 70,000 | |||||||||||||||||||||
Joel Levy | 85,000 | — | — | — | — | — | 85,000 | |||||||||||||||||||||
William Nicholson | 80,000 | — | — | — | — | — | 80,000 | |||||||||||||||||||||
William R. Scherer (2) | 70,000 | — | — | — | — | — | 70,000 | |||||||||||||||||||||
Neil Sterling | 73,500 | — | — | — | — | — | 73,500 |
21
| Name | | | Fees Earned or Paid in Cash | | | Stock Awards(2) | | | Option Awards(2) | | | Non-Equity Incentive Plan Compensation | | | Change in Pension Value and Nonqualified Deferred Compensation Earnings | | | All Other Compensation | | | Total | | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D. Keith Cobb(1) | | | | $ | 18,375 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 18,375 | | | |||||||
| Darwin Dornbush | | | | | 70,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 70,000 | | | |||||||
| Oscar Holzmann | | | | | 83,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 83,500 | | | |||||||
| Alan J. Levy | | | | | 70,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 70,000 | | | |||||||
| Joel Levy | | | | | 85,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 85,000 | | | |||||||
| William Nicholson | | | | | 80,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 80,000 | | | |||||||
| Neil Sterling | | | | | 73,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 73,500 | | | |||||||
| | | | | | | | | | | | | | | | | | | | | | | |
| Name | | | Stock Options | | ||||
---|---|---|---|---|---|---|---|---|---|
| Darwin Dornbush | | | | | 3,719 | (a) | | |
Oscar Holzmann | | | | 157,473 | (c) | | | ||
| Alan J. Levy | | | | | 9,577 | (b) | | |
Joel Levy | | | | 39,686 | (b) | | | ||
| William Nicholson | | | | | 65,357 | (b) | | |
Neil Sterling | | | | 157,473 | (c)(d) | | |
| | | |||||
22
| Individual or Group | | | Dollar Value(1) | | | Number of Restricted Stock Awards | | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Alan B. Levan (Chairman and Chief Executive Officer) | | | | $ | 535,763 | | | | | | 160,408 | | | ||
| John E. Abdo (Vice Chairman) | | | | $ | 535,763 | | | | | | 160,408 | | | ||
| Jarett S. Levan (Executive Vice President) | | | | $ | 269,551 | | | | | | 80,704 | | | ||
| All current executive officers, as a group | | | | $ | 1,610,628 | | | | | | 482,224 | | | ||
| All current directors who are not executive officers, as a group | | | | $ | — | | | | | | — | | | ||
| All employees, including all current officers who are not executive officers, as a group | | | | $ | 1,610,628 | | | | | | 482,224 | | | ||
| | | | | | | | |
| Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants or Rights | | | Weighted-Average Exercise Price of Outstanding Options, Warrants or Rights | | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Outstanding Options, Warrants and Rights) | | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity compensation plans approved by security holders | | | | | 1,654,643 | | | | | $ | 0.41 | | | | | | 5,967 | | | |||
| Equity compensation plans not approved by security holders | | | | | — | | | | | | — | | | | | | — | | | |||
| Total | | | | | 1,654,643 | | | | | $ | 0.41 | | | | | | 5,967 | | | |||
| | | | | | | | | | | |
23
| | | | 2013 | | | 2012 | | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | (in thousands) | | | (in thousands) | | ||||||||
| BFC Financial Corporation | | | | | | | | | | | | | | ||
| Audit fees(1) | | | | $ | 440 | | | | | $ | 428 | | | ||
| Audit-related fees(2) | | | | | 162 | | | | | | 163 | | | ||
| Tax fees | | | | | — | | | | | | — | | | ||
| All other fees(3) | | | | | 2 | | | | | | — | | | ||
| Bluegreen | | | | | | | | | | | | | | ||
| Audit fees(1) | | | | $ | 810 | | | | | $ | 885 | | | ||
| Audit-related fees(4) | | | | | 382 | | | | | | 165 | | | ||
| Tax fees | | | | | — | | | | | | — | | | ||
| All other fees | | | | | — | | | | | | — | | | ||
| BBX Capital | | | | | | | | | | | | | | ||
| Audit fees(1) | | | | $ | 911 | | | | | $ | 1,031 | | | ||
| Audit-related fees(5) | | | | | 251 | | | | | | 25 | | | ||
| Tax fees | | | | | — | | | | | | — | | | ||
| All other fees(6) | | | | | 2 | | | | | | 27 | | | ||
| | | | | | | |
2010 | 2009 | |||||||
(In thousands) | ||||||||
BFC Financial Corporation | ||||||||
Audit fees | $ | 1,475 | (1) | $ | 1,067 | (1) | ||
Audit — related fees | — | 89 | (2) | |||||
Tax fees | — | 5 | ||||||
All other fees | — | — | ||||||
BankAtlantic Bancorp | ||||||||
Audit fees | 1,821 | (1) | 1,582 | (1) | ||||
Audit — related fees | 36 | (2) | 74 | (2) | ||||
Tax fees | — | — | ||||||
All other fees | 31 | (3) | 40 | (3) | ||||
Woodbridge | ||||||||
Audit fees | — | 150 | (4) | |||||
Audit — related fees | — | — | ||||||
Tax fees | — | — | ||||||
All other fees | — | — |
24
Class A | Class B | Percent of | Percent of | |||||||||||||||||
Stock | Stock | Class A | Class B | |||||||||||||||||
Name of Beneficial Owner | Notes | Ownership | Ownership | Stock | Stock | |||||||||||||||
Florida Partners Corporation | (1,2,4,5 | ) | 1,270,294 | 133,314 | 2.0 | % | 1.9 | % | ||||||||||||
I.R.E. Properties, Inc. | (1,2,4,5 | ) | 4,662,929 | 561,017 | 7.6 | % | 8.2 | % | ||||||||||||
Levan Enterprises, Ltd. | (1,2,4,5 | ) | 1,299,130 | 146,865 | 2.1 | % | 2.1 | % | ||||||||||||
Alan B. Levan | (1,2,3,4,5,6,8 | ) | 267,725 | 2,406,235 | 3.8 | % | 33.6 | % | ||||||||||||
John E. Abdo | (1,2,3,4,6 | ) | 3,581,137 | 3,273,797 | 9.5 | % | 45.7 | % | ||||||||||||
Seth M. Wise | (2,3,7 | ) | 25,047 | 0 | * | 0.0 | % | |||||||||||||
D. Keith Cobb | (1,2,3 | ) | 97,656 | 6,250 | * | * | ||||||||||||||
Darwin Dornbush | (2,3 | ) | 38,930 | 0 | * | 0.0 | % | |||||||||||||
Oscar Holzmann | (1,2,3 | ) | 164,361 | 20,290 | * | * | ||||||||||||||
Jarett S. Levan | (2,8 | ) | 10,753 | 0 | * | 0.0 | % | |||||||||||||
Alan J. Levy | (2,3 | ) | 44,600 | 0 | * | 0.0 | % | |||||||||||||
Joel Levy | (2,3 | ) | 31,793 | 0 | * | 0.0 | % | |||||||||||||
William Nicholson | (2,3 | ) | 36,293 | 0 | * | 0.0 | % | |||||||||||||
Neil Sterling | (1,2,3 | ) | 164,361 | 20,290 | * | * | ||||||||||||||
Dr. Herbert A. Wertheim | (1,9 | ) | 3,968,157 | 416,448 | 6.4 | % | 6.1 | % | ||||||||||||
Pennant Capital Management, L.L.C | (10 | ) | 7,433,850 | 0 | 10.9 | % | 0.0 | % | ||||||||||||
Greek Investments, Inc. | (11 | ) | 4,211,090 | 0 | 6.2 | % | 0.0 | % | ||||||||||||
SC Fundamental Value Fund L.P. | (12 | ) | 3,928,108 | 0 | 5.7 | % | 0.0 | % | ||||||||||||
All directors and executive officers of the Company as of April 11, 2011 as a group (13 persons) | (1,2,3,4,5,6 | ) | 11,716,354 | 6,578,205 | 24.1 | % | 87.4 | % |
| Name of Beneficial Owner | | | Notes | | | Class A Common Stock Ownership | | | Class B Common Stock Ownership | | | Percent of Class A Common Stock | | | Percent of Class B Common Stock | | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Levan BFC Stock Partners LP | | | (1,2,4,5,11) | | | | | — | | | | | | 2,019,456 | | | | | | 2.8 | % | | | | | | 27.6 | % | | | ||
| Levan Partners LLC | | | (1,2,4,5,11) | | | | | 5,642,015 | | | | | | 707,882 | | | | | | 8.8 | % | | | | | | 9.7 | % | | | ||
| Alan B. Levan | | | (1,2,3,4,5,6,8,11) | | | | | 8,095,373 | | | | | | 6,521,228 | | | | | | 18.8 | % | | | | | | 86.9 | % | | | ||
| John E. Abdo | | | (1,2,3,4,6,11) | | | | | 4,509,121 | | | | | | 3,273,797 | | | | | | 10.4 | % | | | | | | 44.2 | % | | | ||
| Seth M. Wise | | | (2,3,7,11) | | | | | 528,659 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Jarett S. Levan | | | (2,3,8,11) | | | | | 256,329 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Darwin Dornbush | | | (2,3,11) | | | | | 50,087 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Oscar Holzmann | | | (1,2,3,11) | | | | | 164,361 | | | | | | 20,290 | | | | | | * | | | | | | * | | | ||||
| Alan J. Levy | | | (2,3,11) | | | | | 51,783 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Joel Levy | | | (2,3,11) | | | | | 61,558 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| William Nicholson | | | (2,3,11) | | | | | 85,311 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Neil Sterling | | | (1,2,3,11) | | | | | 126,075 | | | | | | — | | | | | | * | | | | | | 0.0 | % | | | |||
| Dr. Herbert A. Wertheim | | | (1,9,11) | | | | | 3,968,157 | | | | | | 416,448 | | | | | | 6.1 | % | | | | | | 5.7 | % | | | ||
| Howard Dvorkin | | | (10,11) | | | | | 3,695,245 | | | | | | — | | | | | | 5.2 | % | | | | | | 0.0 | % | | | ||
| All directors and executive officers of the Company as of April 29, 2014, as a group (11 persons) | | | (1,2,3,4,5,6,7,8,11) | | | | | 14,149,157 | | | | | | 6,541,518 | | | | | | 26.1 | % | | | | | | 87.1 | % | | | ||
| | | | | | | | | | | | | | | | | |
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