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STOCK BASED AND OTHER COMPENSATION PLANS (Tables)
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [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,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Stock Based Compensation Expense:
 
 
 
 
 
 
 
Annual Incentive Awards Granted in 2015 with Respect to 2014 Performance
$
—

 
$
—

 
$
—

 
$
172

Annual Incentive Awards Granted in 2016 with Respect to 2015 Performance
—

 
325

 
131

 
647

Annual Incentive Awards Granted in 2017 with Respect to 2016 Performance(1)
282

 
509

 
676

 
1,131

Other 2017 Restricted Stock Awards(1)
25

 
76

 
76

 
181

Annual Incentive Awards Granted in 2017 with Respect to 2017 Performance(1)
580

 
1,087

 
1,365

 
2,202

2018 Restricted Stock Awards
—

 
93

 
32

 
136

Other 2018 Restricted Stock Awards(1)
10

 
3

 
21

 
3

Annual Incentive Awards Granted in 2019 with Respect to 2018 Performance(1)
2,481

 
—

 
12,295

 
—

2019 Restricted Stock Awards
87

 
—

 
149

 
—

Other Employee/Director Awards
4

 
12

 
16

 
33

Total Stock Based Compensation Expense
$
3,469

 
$
2,105

 
$
14,761

 
$
4,505

 
 
 
 
 
 
 
 
Phantom Equity Investment Plan
$
(98
)
 
$
—

 
$
704

 
$
—

Ladder Capital Corp Deferred Compensation Plan
$
—

 
$
236

 
$
—

 
$
919

Bonus Expense
$
7,717

 
$
7,782

 
$
14,501

 
$
17,562

 
(1)
Includes immediate vesting of retirement eligible employees, including Brian Harris, our Chief Executive Officer.
Summary of the grants
A summary of the grants is presented below ($ in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
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)
4,568

 
$
75

 
3,566

 
$
50

 
1,546,251

 
$
27,146

 
28,936

 
$
425

Grants - Class A Common Stock (restricted) dividends
—

 
—

 
—

 
—

 
11,113

 
185

 
—

 
—

Stock Options
—

 
—

 
—

 
—

 
12,073

 
—

 
—

 
—

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Amortization to compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ladder compensation expense
 

 
(3,469
)
 
 

 
(2,105
)
 
 

 
(14,761
)
 
 

 
(4,505
)
Total amortization to compensation expense
 

 
$
(3,469
)
 
 

 
$
(2,105
)
 
 

 
$
(14,761
)
 
 

 
$
(4,505
)
Schedule of nonvested shares activity
The table below presents the number of unvested shares and outstanding stock options at June 30, 2019 and changes during 2019 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, 2018
1,118,194

 
982,135

Granted
1,556,682

 
12,073

Exercised
 
 
—

Vested
(1,116,901
)
 
 
Forfeited
(8,702
)
 
—

Expired
 
 
—

Nonvested/Outstanding at June 30, 2019
1,549,273

 
994,208

 
 
 
 
Exercisable at June 30, 2019
 
 
994,208

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