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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 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, all of which is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations (in thousands):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2017
 
2016
 
2017
 
2016
Restricted stock units (1)
 
$
2,157

 
$
1,810

 
$
6,348

 
$
4,948

Stock options
 
1,162

 
1,056

 
3,308

 
3,074

New TMM units
 
58

 
176

 
571

 
937

Total stock compensation
 
$
3,377

 
$
3,042

 
$
10,227

 
$
8,959


(1) Includes compensation expense related to time-based RSUs and performance-based RSUs. Outstanding performance-based RSUs reflected in the table above are reported at target level of performance.
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 as of September 30, 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)
 
(191,333
)
 
5.36

Forfeited (2)
 
(1,592
)
 
8.52

Balance at September 30, 2017 (3)
 
953,432

 
$
5.62

(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.
(3) The number of vested and unexchanged New TMM Units as of September 30, 2017 was 931,462.
The following table summarizes the time-based RSU and performance-based RSU activity for the nine months ended September 30, 2017:
 
 
Shares
 
Weighted Average
Grant Date Fair
Value
Balance at December 31, 2016
 
1,358,701

 
$
13.39

Granted
 
647,354

 
18.06

Vested
 
(78,221
)
 
17.43

Forfeited
 
(53,892
)
 
13.95

Balance at September 30, 2017
 
1,873,942

 
$
14.82
Summary of Stock Option Activity
The following table summarizes the stock option activity for the nine months ended September 30, 2017:
 
 
Shares
 
Weighted
Average Exercise
Price Per Share
Outstanding at December 31, 2016
 
2,431,347

 
$
17.09

Granted
 
790,651

 
19.05

Exercised
 
(265,167
)
 
18.07

Canceled/Forfeited
 
(74,811
)
 
18.01

Outstanding at September 30, 2017
 
2,882,020

 
$
17.52

Options exercisable at September 30, 2017
 
933,259

 
$
19.63