Unit-Based Compensation

3 Months Ended

Mar. 31, 2017

13. UNIT-BASED COMPENSATION

The Sanchez Production Partners LP Long-Term Incentive Plan (the “LTIP”) allows for restricted unit grants. Restricted unit activity under the LTIP during the period is presented in the following table:


		Weighted
		Average
	Number of	Grant Date
	Restricted	Fair Value
	Units	Per Unit
Outstanding at December 31, 2016	219,144	$	14.22
Granted	171,231		14.60
Outstanding at March 31, 2017	390,375	$	14.39

During the three months ended March 31, 2017, the Partnership issued 171,231 restricted common units pursuant to the Plan to executives of the Partnership’s general partner that vest on the first anniversary of grant. During the year ended December 31, 2016, the Partnership issued 67,627 restricted common units pursuant to the Plan to certain directors of the Partnership’s general partner that vested immediately on the date of the grant. The unit-based compensation expense for the award was based on the fair value on the day before the date of grant.

As of March 31, 2017, 1,523,074 common units remain available for future issuance to participants under the LTIP.

- 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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