Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2017
Share-based Compensation [Abstract]  
Stock-Based Compensation
Stock-Based Compensation (share values in dollars)
Our overall executive incentive compensation program permits the granting of awards to our directors, officers and key employees in the form of options to purchase common stock, stock appreciation rights, restricted shares of common stock, restricted common stock units, performance shares, performance units and senior executive plan bonuses.
Restricted Stock. In January 2017, we granted awards of 105,448 restricted shares to certain executive officers at a grant date price of $12.07 per share. These January 2017 restricted shares will fully vest in January 2018, assuming continued service at vesting.
The following table summarizes the restricted share activity from January 1, 2017:
 
 
 
 
Weighted
Average
Grant Date
Fair Values
Non-vested Shares
 
Shares
 
(per share)
Non-vested at December 31, 2016
 
159,634

 
$
12.26

Granted
 
105,448

 
12.07

Vested
 

 

Forfeited
 

 

Non-vested at March 31, 2017
 
265,082

 
$
12.19


Compensation expense for restricted stock awards amounted to $504 and $1,713 for the three months ended March 31, 2017 and 2016, respectively. These amounts are included in selling, general and administrative expenses in the consolidated statements of operations.
Partnership Restricted Units. Compensation expense for the Partnership’s restricted common unit grants amounted to $23 and $10 for the three months ended March 31, 2017 and 2016, respectively. These amounts are included in selling, general and administrative expenses in the consolidated statements of operations.
Unrecognized Compensation Cost. As of March 31, 2017, there was $1,969 of total unrecognized compensation cost related to non-vested share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 1.3 years.