EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2016 and 2015 was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Stock options	$	—	$	256	$	55	$	551
Time-based restricted stock	419		820		1,176		1,396
Performance-based restricted stock	576		864		1,532		1,568
Director stock	25		20		439		453
	$	1,020	$	1,960	$	3,202	$	3,968

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

Unrecognized equity-based compensation expense for all non-vested awards was $7.1 million at September 30, 2016 as follows (in thousands):

	Total		2016		2017		2018		2019		2020
Time-based restricted stock	$	2,920	$	420	$	1,506	$	819	$	165	$	10
Performance-based restricted stock	4,130		575		2,192		1,168		195		—
	$	7,050	$	995	$	3,698	$	1,987	$	360	$	10

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 nine months ended September 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	192,123		11.36
Vested	(82,869	)	11.06
Forfeited	(406	)	10.27
Outstanding at September 30, 2016	358,859		$	11.90	$	4,723

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 nine months ended September 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 September 30, 2016	449,027		$	14.90	$	5,909

(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.