EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2015

	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Terms		Aggregate Intrinsic Value (Current Value Less Exercise Price)
		(per share)		(in years)		(in thousands)
Outstanding at December 31, 2014	846,000	$	9.75	6.2		$	2,276
Granted	—	—
Exercised	—	—
Forfeited	—	—

Outstanding at September 30, 2015	846,000	$	9.75	3.0	(1)	$	1,624

Exercisable at September 30, 2015	752,000	$	9.75	2.7		$	1,444

(1)

The accelerated vesting of Mr. Boekelheide’s stock options resulted in a significant decrease in the weighted average remaining contractual terms of outstanding stock options at September 30, 2015.

Schedule of equity-based compensation expense

Equity-based compensation expense included in Corporate General and Administrative expenses in the condensed consolidated statements of operations for the three and nine months ended September 30, 2015 and 2014 were as follows (in thousands):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2015		2014		2015		2014
Stock options	$	256	$	146	$	551	$	527
Time-based restricted stock	820		233		1,396		727
Performance-based restricted stock	864		548		1,568		1,202
Director stock	20		148		453		387

	$	1,960	$	1,075	$	3,968	$	2,843

Schedule of unrecognized equity-based compensation expense for all non-vested awards

Unrecognized equity-based compensation expense for all non-vested awards was $4.9 million at September 30, 2015 as follows (in thousands):

	Total		2015		2016		2017		2018
Stock options	$	136	$	82	$	54	$	—	$	—
Time-based restricted stock	2,215		295		1,009		799		112
Performance-based restricted stock	2,546		389		1,133		1,024		—

	$	4,897	$	766	$	2,196	$	1,823	$	112

Restricted Stock Awards | Time-Based

Equity-based compensation

Schedule of restricted stock awards

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Current Value
			(per share)		(in thousands)
Non-vested December 31, 2014	181,116		$	9.81	$	2,253
Granted	166,340		13.53
Vested	(97,445	)	10.46
Forfeited	—		—

Outstanding at September 30, 2015	250,011		$	12.03	$	2,918

Restricted Stock Awards | Performance-Based

Equity-based compensation

Schedule of restricted stock awards

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Current Value
			(per share)		(in thousands)
Non-vested December 31, 2014	384,558		$	6.75	$	4,784
Granted	154,505		18.78
Vested	(184,666	)	6.86
Forfeited	(46,030	)	5.10

Outstanding at September 30, 2015	308,367		$	12.95	$	3,599