EQUITY-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2016

Equity-based compensation

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 six months ended June 30, 2016 and 2015 was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Stock options	$	—	$	148	$	55	$	295
Time-based restricted stock	420		354		757		576
Performance-based restricted stock	575		437		956		704
Director stock	394		433		414		433
	$	1,389	$	1,372	$	2,182	$	2,008

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

Unrecognized equity-based compensation expense for all non-vested awards was $8.0 million at June 30, 2016 as follows (in thousands):

	Total		2016		2017		2018		2019		2020
Time-based restricted stock	$	3,338	$	840	$	1,505	$	819	$	165	$	9
Performance-based restricted stock	4,706		1,151		2,192		1,168		195		—
	$	8,044	$	1,991	$	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 six months ended June 30, 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	(82,869	)	11.06
Forfeited	(406	)	10.27
Outstanding at June 30, 2016	358,453		$	11.89	$	4,746

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 six months ended June 30, 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 June 30, 2016	449,027		$	14.90	$	5,945

(1) The amounts included in this column represent the expected future value of the performance-based restricted stock awards calculated using the Monte Carlo simulation valuation model.