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Stock Based Compensation
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Based Compensation

The Company’s amended 2014 Long-term Incentive Plan (the “2014 Plan”) allows, among other things, for the grant of restricted stock units (“RSUs”).  RSUs do not pay dividends or have voting rights prior to vesting.  The Company determines the fair value of granted RSUs based on the market price of the Common Stock of the Company on the date of the grant.  Compensation expense is for granted RSUs is recognized on a straight-line basis over the vesting and is net of forfeitures, as incurred.

During the year ended December 31, 2016, the Company granted 754,500 RSU’s to employees of the Company and 27,000 RSUs to members of its Board of Directors (the “Awards”). The weighted average grant date fair value of the Awards was $12.53 per share. The future compensation cost of the Awards at December 31, 2016 is $6.5 million which will be amortized over the remaining vesting period. The weighted average remaining useful life of the future compensation cost is 0.74 years. Stock-based compensation for the year ended December 31, 2016 recorded in the Consolidated Statements of Operations was $3.3 million. There was no stock-based compensation for the years ended December 31, 2015 and 2014.