Equity-Based Compensation

3 Months Ended

Mar. 31, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

4.	Equity-Based Compensation

The Company granted 338,391 and 317,543 restricted stock units (“RSUs”) during the three months ended March 31, 2015 and 2014, respectively. The Company recorded equity-based compensation expense related to restricted stock awards and RSUs of $3.1 million and $2.3 million during the three months ended March 31, 2015 and 2014, respectively.

A summary of changes in unvested shares/units for the three months ended March 31, 2015 is as follows:

	Number of shares/units
Outstanding at December 31, 2014		1,346,062
Granted		338,391
Vested		(541,864	)
Forfeited		(10,082	)
Outstanding at March 31, 2015		1,132,507

No amounts were recorded for equity-based compensation expense related to stock options during the three months ended March 31, 2015 and 2014 as all stock options vested prior to 2014. The Company does not currently grant stock options.

A summary of changes in outstanding options for the three months ended March 31, 2015 is as follows:

	Number of Options
Outstanding at December 31, 2014		153,764
Exercised		(56,152	)
Forfeited and expired		-
Outstanding at March 31, 2015		97,612

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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