Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock-Based Compensation Expense

The following table provides information regarding the amount and components of stock-based compensation expense included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands):



	Three Months Ended March 31,
	2017		2016
Restricted stock units (RSUs) ⁽¹⁾	$	1,897	$	1,382
Stock options	958		957
New TMM units	157		381
Total stock compensation	$	3,012	$	2,720

⁽¹⁾Includes compensation expense related to time-based RSUs and performance-based RSUs.

Summary of Activity of Stock Units

The shares of Class B Common Stock/New TMM Units held by members of management and members of our Board of Directors outstanding as of March 31, 2017 were as follows:



	Class B Shares/New TMM Units		Weighted Average Grant Date Fair Value
Balance at December 31, 2016	1,146,357		$	5.58
Exchanges ⁽¹⁾	(49,956	)	4.09
Forfeited ⁽²⁾	(1,592	)	8.04
Balance at March 31, 2017 ⁽³⁾	1,094,809		$	5.65

⁽¹⁾Exchanges during the period represent the exchange of a vested New TMM Unit along with the corresponding share of Class B Common Stock for a newly issued share of Class A Common Stock.

⁽²⁾Awards forfeited during the period represent the unvested portion of New TMM Unit awards for employees who have terminated employment with the Company and for which the New TMM Unit and the corresponding Class B Share have been canceled.

The following table summarizes the time-based RSU and performance-based RSU activity for the three months ended March 31, 2017:



	Shares		Weighted Average Grant Date Fair Value
Balance at December 31, 2016	1,358,701		$	13.39
Granted	621,293		17.84
Vested	(49,036	)	18.76
Forfeited	(37,559	)	13.41
Balance at March 31, 2017	1,893,399		$	14.72

Summary of Stock Option Activity

The following table summarizes the stock option activity for the three months ended March 31, 2017:



	Shares		Weighted Average Exercise Price Per Share
Outstanding at December 31, 2016	2,431,347		$	17.09
Granted	785,132		19.03
Exercised	(33,583	)	12.25
Canceled/Forfeited	(54,912	)	17.86
Outstanding at March 31, 2017	3,127,984		$	17.62
Options exercisable at March 31, 2017	935,059		$	18.94