EQUITY-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

Equity-based compensation

Schedule of stock option activity

Stock option activity for the three months ended March 31, 2016 is as follows:

	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, 2015	470,000	$	9.75	5.2	$	1,034
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding at March 31, 2016	470,000	$	9.75	4.9	$	1,043
Exercisable at March 31, 2016	470,000	$	9.75	4.9	$	1,043

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 months ended March 31, 2016 and 2015 were as follows (in thousands):

	Three Months Ended March 31,
	2016		2015
Stock options	$	55	$	147
Time-based restricted stock	337		222
Performance-based restricted stock	381		267
Director stock	20		—
	$	793	$	636

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

Unrecognized equity-based compensation expense for all non-vested awards was $9.0 million at March 31, 2016 as follows (in thousands):

	Total		2016		2017		2018		2019		2020
Time-based restricted stock	$	3,758	$	1,260	$	1,505	$	819	$	165	$	9
Performance-based restricted stock	5,281		1,726		2,192		1,168		195		—
	$	9,039	$	2,986	$	3,697	$	1,987	$	360	$	9

Restricted Stock Awards | Time-Based

Equity-based compensation

Schedule of restricted stock awards

The following table summarizes time-based restricted stock award activity under the Equity Plan for the three months ended March 31, 2016:

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Current Value
			(per share)		(in thousands)
Non-vested December 31, 2015	250,011		$	12.03	$	2,988
Granted	191,717		11.35
Vested	(59,975	)	11.53
Forfeited	—		—
Outstanding at March 31, 2016	381,753		$	11.77	$	4,570

Restricted Stock Awards | Performance-Based

Equity-based compensation

Schedule of restricted stock awards

The following table summarizes performance-based restricted stock activity under the Equity Plan for the three months ended March 31, 2016:

	Number of Shares		Weighted Average Grant Date Fair Value (1)		Aggregate Current Value
			(per share)		(in thousands)
Non-vested December 31, 2015	308,367		$	12.95	$	3,685
Granted	254,563		13.77
Vested	(113,903	)	7.10
Forfeited	—		—
Outstanding at March 31, 2016	449,027		$	14.90	$	5,375