Unit-Based Compensation

6 Months Ended

Jun. 30, 2017

Unit-Based Compensation

Unit-Based Compensation

13. UNIT-BASED COMPENSATION

The Sanchez Midstream Partners LP Long-Term Incentive Plan (the “LTIP”) allows for restricted common unit grants. Restricted common 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	215,814		14.83
Vested	(44,583)		15.70
Outstanding at June 30, 2017	390,375	$	14.39

In March 2017, the Partnership issued 171,231 restricted common units pursuant to the LTIP to executives of the Partnership’s general partner that vest on the first anniversary of grant. In April 2017, the Partnership issued 44,583 restricted common units pursuant to the LTIP to certain directors of the Partnership’s general partner that vested immediately on the date of grant. The unit-based compensation expense for the award was based on the fair value on the day before the date of grant. During the year ended December 31, 2016, the Partnership issued 67,627 restricted common units pursuant to the LTIP 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 June 30, 2017, 1,591,019 common units remain available for future issuance to participants under the LTIP.