EQUITY-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2018

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 months ended March 31, 2018 and 2017 was as follows (in thousands):

	For the Three Months Ended March 31,
	2018		2017
Time-based restricted stock	$	836	$	476
Performance-based restricted stock	1,374		634
Director stock	17		20
	$	2,227	$	1,130

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 $10.5 million at March 31, 2018 and will be recorded as follows (in thousands):

	Total		2018		2019		2020		2021		2022
Time-based restricted stock	$	4,349	$	1,554	$	1,618	$	959	$	205	$	13
Performance-based restricted stock	6,146		2,353		2,320		1,287		186		—
	$	10,495	$	3,907	$	3,938	$	2,246	$	391	$	13

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 three months ended March 31, 2018:

	Number  of Shares		Weighted Average Grant Date  Fair Value		Aggregate Current Value
			(per share)		(in thousands)
Non-vested at December 31, 2017	391,477		$	13.52	$	5,962
Granted	185,565		13.15
Vested	(205,619	)	13.41
Non-vested at March 31, 2018	371,423		$	13.40	$	5,055

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, 2018:

	Number  of Shares		Weighted Average Grant Date  Fair Value (1)		Aggregate Current Value
			(per share)		(in thousands)
Non-vested at December 31, 2017	619,429		$	16.16	$	9,434
Granted	397,808		15.69
Vested	(309,010	)	18.78
Non-vested at March 31, 2018	708,227		$	14.75	$	9,639

(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.