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STOCK BASED AND OTHER COMPENSATION PLANS (Tables)
 6 Months Ended
Jun. 30, 2018
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):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
Stock Based Compensation Expense:
 
 
 
 
 
 
 
Annual Incentive Awards Granted in 2015 With Respect to 2014 Performance
$
—

 
$
415

 
$
172

 
$
1,037

Annual Incentive Awards Granted in 2016 With Respect to 2015 Performance
325

 
430

 
647

 
1,215

Annual Incentive Awards Granted in 2017 With Respect to 2016 Performance(1)
509

 
590

 
1,131

 
5,786

Other 2017 Restricted Stock Awards(1)
76

 
56

 
181

 
147

Annual Incentive Awards Granted in 2017 With Respect to 2017 Performance(1)
1,087

 
—

 
2,202

 
—

2018 Restricted Stock Awards
93

 
—

 
136

 
—

Other 2018 Restricted Stock Awards(1)
3

 
—

 
3

 
—

Other Employee/Director Awards
12

 
21

 
33

 
581

Total Stock Based Compensation Expense
$
2,105

 
$
1,512

 
$
4,505

 
$
8,766

 
 
 
 
 
 
 
 
Phantom Equity Investment Plan
$
—

 
$
65

 
$
—

 
$
342

Ladder Capital Corp Deferred Compensation Plan
$
236

 
$
(431
)
 
$
919

 
$
187

Bonus Expense
$
7,782

 
$
9,425

 
$
17,562

 
$
12,528

 
(1)
Includes immediate vesting of retirement eligible employees, including Brian Harris.
Summary of the grants
A summary of the grants is presented below ($ in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares
 
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)
3,566

 
$
50

 
26,653

 
$
379

 
28,936

 
$
425

 
859,061

 
$
11,995

Grants - Class A Common Stock (restricted) dividends
—

 
—

 
—

 
—

 
—

 
—

 
15,560

 
216

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Amortization to compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ladder compensation expense
 

 
(2,105
)
 
 

 
(1,512
)
 
 

 
$
(4,505
)
 
 

 
$
(8,766
)
Total amortization to compensation expense
 

 
$
(2,105
)
 
 

 
$
(1,512
)
 
 

 
$
(4,505
)
 
 

 
$
(8,766
)
Schedule of Nonvested Shares Activity
The table below presents the number of unvested shares and outstanding stock options at June 30, 2017 and changes during 2017 of the 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
874,621

 
—

Exercised
 
 
—

Vested
(1,425,490
)
 
 
Forfeited
(10,000
)
 
—

Expired
 
 
—

Nonvested/Outstanding at June 30, 2017
914,996

 
982,135

 
 
 
 
Exercisable at June 30, 2017
 
 
752,017

The table below presents the number of unvested shares and outstanding stock options at June 30, 2018 and changes during 2018 of the 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, 2017
1,252,365

 
982,135

Granted
28,936

 
—

Exercised
 
 
—

Vested
(138,216
)
 
 
Forfeited
(26,061
)
 
—

Expired
 
 
—

Nonvested/Outstanding at June 30, 2018
1,117,024

 
982,135

 
 
 
 
Exercisable at June 30, 2018
 
 
929,701