Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Employee Stock-Based Compensation Expense

Employee stock-based compensation expense under the Company’s 2013 Incentive Plan was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Expense from Time-based RSUs	$	750	$	501	$	1,892	$	1,812
Expense from Performance-based RSUs		118		-		269		-
Equity-based compensation expense		868		501		2,161		1,812
Tax benefit from equity-based compensation		(191)		(110)		(475)		(398)
Excess tax benefit from equity-based compensation		-		-		(324)		(201)
Net compensation cost	$	677	$	391	$	1,362	$	1,213

Time-based Restricted Stock Units

Restricted Stock Units

	Time-based restricted stock units		Weighted average grant date fair value per share
Balance, January 1, 2017	127,011	$	33.00
Granted	43,450	$	55.45
Shares vested (including tax withholding)(a)	(58,426)	$	33.03
Forfeited	(2,935)	$	40.70
Balance, September 30, 2017	109,100	$	41.71

(a) Pursuant to the terms of the 2013 Incentive Plan, RSUs withheld by the Company for the payment of the employee's tax withholding related to an RSU vesting are added back to the pool of shares available for future awards.

Performance-based Restricted Stock Units

Restricted Stock Units

	Performance-based restricted stock units		Weighted average grant date fair value per share
Balance, January 1, 2017	—	$	—
Granted (a)	33,961	$	57.88
Forfeited	(1,155)	$	57.88
Balance, September 30, 2017	32,806	$	57.88

(a) Represents the total participant target award.