Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Pursuant to the LTIP, CatchMark Timber Trust issued the following restricted stock grants to its employees during 2013:



	Time-Based Restricted Shares ⁽¹⁾		Performance-Based Restricted Shares ⁽²⁾		IPO RSUs⁽³⁾
Executives	34,000		51,000		91,000
Non-executives	20,000		—		39,400
Total	54,000		51,000		130,400
Weighted average price of restricted shares granted ⁽⁴⁾	$	13.57	$	13.55	$	13.57

⁽¹⁾

The restricted shares vest in equal annual installments on each of December 31, 2014, December 31, 2015, December 31, 2016, and December 31, 2017, subject to the an employee’ continued employment with CatchMark Timber Trust on each vesting date, or on the earlier occurrence of a change in control or the employee’s termination of employment (i) by CatchMark Timber Trust without cause, (ii) by the employee for good reason, or (iii) by reason of the executive’s death or disability.

⁽²⁾

The number of restricted shares earned will be based upon achievement of performance goals for 2014 as established by the compensation committee of the board of directors, and the earned shares will vest December 31, 2017, subject to the executive's continued employment with CatchMark Timber Trust on that date. In the event of a change in control, these shares will vest as of the date of the change in control.


⁽³⁾	The restricted stock units vested and converted to shares of Class A common stock upon Listing, 84,261 shares were issued net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations.


⁽⁴⁾	The fair value of each share granted is equal to the share price of CatchMark Timber Trust's common stock on the date of grant.