EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017 and 2016 was as follows (in thousands):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Time-based restricted stock	$	541	$	419	$	1,607	$	1,176
Performance-based restricted stock	849		576		2,333		1,532
Stock options	—		—		—		55
Director stock	99		25		543		439
	$	1,489	$	1,020	$	4,483	$	3,202

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

Unrecognized equity-based compensation expense for all non-vested awards pursuant to our Equity Plan was $8.1 million at September 30, 2017 as follows (in thousands):

	Total		2017		2018		2019		2020		2021
Time-based restricted stock	$	3,293	$	541	$	1,603	$	949	$	190	$	10
Performance-based restricted stock	4,826		850		2,374		1,401		201		—
	$	8,119	$	1,391	$	3,977	$	2,350	$	391	$	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 our Equity Plan for the nine months ended September 30, 2017:

	Number  of Shares		Weighted Average Grant Date  Fair Value		Aggregate Current Value
			(per share)		(in thousands)
Non-vested at December 31, 2016	357,845		$	11.90	$	5,736
Granted	156,318		15.52
Vested	(120,366	)	11.29
Forfeited	(1,237	)	13.57
Non-vested at September 30, 2017	392,560		$	13.52	$	6,277

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, 2017:

	Number  of Shares		Weighted Average Grant Date  Fair Value (1)		Aggregate Current Value
			(per share)		(in thousands)
Non-vested at December 31, 2016	449,027		$	14.90	$	7,198
Granted	210,361		17.13
Vested	(39,959	)	7.12
Non-vested at September 30, 2017	619,429		$	16.16	$	9,905

(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.