Unit-Based Compensation

3 Months Ended

Mar. 31, 2018

Unit-Based Compensation

Unit-Based Compensation

14. 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, 2017	283,138	$	14.64
Granted	—		—
Vested	(171,231)		14.60
Returned/Cancelled	(4,166)		13.59
Outstanding at March 31, 2018	107,741	$	14.73

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. 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, 2018,  1,634,947 common units remained available for future issuance to participants under the LTIP.