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STOCK BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation Plans Summary
The following table summarizes the impact on the consolidated statement of operations of the various stock based compensation plans described in this note ($ in thousands):

 
Year Ended December 31,
 
2017
 
2016
 
2015
 
 
 
 
 
 
Stock Based Compensation Expense:
 
 
 
 
 
2015 Annual Restricted Stock/Option Awards
$
1,876

 
$
4,838

 
$
6,197

2016 Annual Restricted Stock/Option Awards
2,094

 
6,690

 
—

2017 Annual Restricted Stock Awards
7,289

(1)
—

 
—

2017 Other Restricted Stock Awards
302

 
—

 
—

2018 Annual Restricted Stock Awards(2)
6,768

(1)
—

 
—

Other Employee/Director Awards
636

 
6,112

 
7,591

Total Stock Based Compensation Expense
$
18,965

 
$
17,640

 
$
13,788

 
 
 
 
 
 
Phantom Equity Investment Plan
$
510

 
$
689

 
$
(2,958
)
Ladder Capital Corp Deferred Compensation Plan
$
568

 
$
710

 
$
(553
)
Bonus Expense
$
33,747

 
$
29,224

 
$
34,359

 
(1)
Includes immediate vesting of retirement eligible employees, including Brian Harris.
(2)
Granted in December 2017.
Summary of the grants
A summary of the grants is presented below ($ in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
Grants - Class A Common Stock (restricted)
1,996,594

 
$
27,489

 
793,598

 
$
9,118

 
726,327

 
$
13,353

Grants - Class A Common Stock (restricted) dividends
15,560

 
216

 
166,934

 
1,908

 
—

 
—

Stock Options
—

 
—

 
380,949

 
1,356

 
670,256

 
1,441

 
 

 
 

 
 

 
 

 
 

 
 

Amortization to compensation expense
 
 
 
 
 
 
 
 
 
 
 
LP Units compensation expense
 

 
—

 
 

 
—

 
 

 
(124
)
Ladder compensation expense
 

 
(18,965
)
 
 

 
(17,640
)
 
 

 
(13,664
)
Total amortization to compensation expense
 

 
$
(18,965
)
 
 

 
$
(17,640
)
 
 

 
$
(13,788
)
Schedule of Nonvested Shares Activity
The table below presents the number of unvested shares and outstanding stock options at December 31, 2017 and changes during 2017 of the (i) Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
 
 
 
Nonvested/Outstanding at December 31, 2016
1,475,865

 
982,135

Granted
2,012,154

 
—

Exercised
 
 
—

Vested
(2,225,654
)
 
 
Forfeited
(10,000
)
 
—

Expired
 
 
—

Nonvested/Outstanding at December 31, 2017
1,252,365

 
982,135

 
 
 
 
Exercisable at December 31, 2017
 
 
752,017

The table below presents the number of unvested shares and outstanding stock options at December 31, 2016 and changes during 2016 of the (i) Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan and (ii) Series B Participating Preferred Units of LCFH granted under the 2008 Plan, which were subsequently converted to LP Units of LCFH in connection with the IPO:

 
Restricted Stock
 
Stock Options
 
LP Units(1)
 
 
 
 
 
 
Nonvested/Outstanding at December 31, 2015
1,334,369

 
601,186

 
504

Granted
960,531

 
380,949

 
—

Exercised
 
 
—

 
 
Vested
(770,568
)
 
 
 
(504
)
Forfeited
(48,467
)
 
—

 
—

Expired
 
 
—

 
 
Nonvested/Outstanding at December 31, 2016
1,475,865

 
982,135

 
—

 
 
 
 
 
 
Exercisable at December 31, 2016
 
 
230,936

 
 
 
(1)         Converted to LP Units of LCFH on February 11, 2014 in connection with IPO. LCFH LP Unitholders also received an equal number of shares of Class B Common stock of the Company at IPO. The LP Units converted to an equal number of Series REIT LP Units and Series TRS LP Units on December 31, 2014 in connection with the Company’s conversion to a REIT.