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Long-Term Incentive Plan Units
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Long-Term Incentive Plan Units Long-Term Incentive Plan Units
OP LTIP Units subject to the Company's incentive plans are generally exercisable by the holder at any time after vesting. Each OP LTIP Unit is convertible into an OP Unit on a one-for-one basis. Subject to certain conditions, the OP Units are redeemable by the holder for an equivalent number of shares of common stock of the Company or for the cash value of such shares of common stock, at the Company's election. Costs associated with the OP LTIP Units issued under the Company's incentive plans are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with OP LTIP Units issued under the Company's incentive plans for the years ended December 31, 2021, 2020, and 2019 was $1.0 million, $0.7 million, and $0.5 million, respectively.
On March 3, 2021, the Company's Board of Directors authorized the issuance of 17,231 OP LTIP Units to certain of Ellington's personnel dedicated to the Company pursuant to the Company's 2017 Equity Incentive Plan.
On September 14, 2021, the Company's Board of Directors authorized the issuance of 16,264 OP LTIP Units to certain of its directors pursuant to the Company's 2017 Equity Incentive Plan.
On December 16, 2021, the Company's Board of Directors authorized the issuance of 35,490 OP LTIP Units to certain of Ellington's personnel dedicated to the Company pursuant to the Company's 2017 Equity Incentive Plan.
The below table details unvested OP LTIP Units as of December 31, 2021:
Grant RecipientNumber of OP LTIP Units GrantedGrant Date
Vesting Date(1)
Directors:
16,264 September 14, 2021September 13, 2022
Dedicated or partially dedicated personnel:
14,598 December 17, 2020December 17, 2022
13,534 March 3, 2021December 31, 2022
19,701 December 16, 2021December 16, 2022
15,789 December 16, 2021December 16, 2023
Total unvested OP LTIP Units at December 31, 202179,886 
(1)Date at which such OP LTIP Units will vest and become non-forfeitable.
The following tables summarize issuance and exercise activity of OP LTIP Units for the years ended December 31, 2021, 2020, and 2019:
Year Ended December 31,
202120202019
ManagerDirector/
Employee		TotalManagerDirector/
Employee		TotalManagerDirector/
Employee		Total
OP LTIP Units Outstanding
(12/31/2020, 12/31/2019, and 1/1/2019, respectively)
365,518 247,020 612,538 365,518 180,198 545,716 375,000 146,371 521,371 
Granted— 68,985 68,985 — 70,460 70,460 — 37,437 37,437 
Exercised— (5,710)(5,710)— (3,638)(3,638)(9,482)(3,610)(13,092)
OP LTIP Units Outstanding (12/31/2021, 12/31/2020, and 12/31/2019, respectively)365,518 310,295 675,813 365,518 247,020 612,538 365,518 180,198 545,716 
OP LTIP Units Unvested and Outstanding (12/31/2021, 12/31/2020, and 12/31/2019, respectively)— 79,886 79,886 — 75,550 75,550 — 46,128 46,128 
OP LTIP Units Vested and Outstanding (12/31/2021, 12/31/2020, and 12/31/2019, respectively)365,518 230,409 595,927 365,518 171,470 536,988 365,518 134,070 499,588 
There were an aggregate of 1,654,854 and 1,761,212 shares of common stock of the Company underlying awards, including OP LTIP Units, available for future issuance under the Company's 2017 Equity Incentive Plan as of December 31, 2021 and 2020, respectively.