Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Employee Stock-Based Compensation Expense

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

	Year Ended December 31,
	2017		2016		2015
Expense from Time-based RSUs	$	2,523	$	2,330	$	1,453
Expense from Performance-based RSUs		377		-		-
Equity-based compensation expense		2,900		2,330		1,453
Tax benefit from equity-based compensation		(637)		(511)		(231)
Excess tax benefit from equity-based compensation		(324)		(261)		(2,770)
Net compensation cost	$	1,939	$	1,558	$	(1,548)

Time-based Restricted Stock Units

Restricted Stock Units

The following table summarizes equity-based compensation activity related to time-based RSUs for the year ended December 31, 2017:

	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	(6,173)	$	41.94
Balance, December 31, 2017	105,862	$	41.67

(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.

The following table summarizes information about our RSU grants during the years ended December 31, 2017, 2016 and 2015:

			Year ended December 31,
		2017			2016		2015
Weighted average grant date fair value per RSU granted	$	55.45		$	33.24	$	32.45

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	(2,130)	$	57.88
Balance, December 31, 2017	31,831	$	57.88

Represents the total participant target award.