Changes in common stock during the nine months ended September 30, 2017 and 2016 were as follows:



	For the Nine Months Ended September 30,
	2017		2016
Beginning common shares outstanding	93,525,469		86,793,521
Stock Offering	10,350,000		—
Grants under the Equity Plan	366,679		446,686
Common Unit redemptions	52,808		61,056
Exercise of stock options	—		37,684
Annual grants to independent directors	28,426		32,180
Common stock issued for director fees	3,553		5,851
Forfeitures	(1,237	)	(406	)
Shares retained for employee tax withholding requirements	(59,111	)	(61,622	)
Ending common shares outstanding	104,266,587		87,314,950