Equity-Based Compensation (Notes)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

9. Equity-Based Compensation

Our general partner's board of directors adopted the Western Refining Logistics, LP 2013 Long-Term Incentive Plan (the "LTIP") in connection with the completion of the Offering. The LTIP is for the benefit of employees, consultants and non‑employee directors of our general partner and its affiliates. Awards granted under the LTIP vest over a scheduled vesting period and their market value at the date of the grant is amortized over the restricted period on a straight-line basis.

As of September 30, 2014, there were 4,207,195 common units reserved for future grants under the LTIP. We incurred unit-based compensation expense of $0.5 million and $1.1 million for the three and nine months ended September 30, 2014, respectively.

The fair value at grant date of nonvested phantom units outstanding as of September 30, 2014, was $8.0 million. Total unrecognized compensation cost related to our nonvested phantom units totaled $6.7 million as of September 30, 2014, that we expect to recognize over a weighted-average period of approximately 4.32 years.

A summary of our unit award activity for the nine months ended September 30, 2014, is set forth below:

	Number of Phantom Units		Weighted Average Grant Date Fair Value
Nonvested at December 31, 2013	10,908		$	22.00
Awards granted	281,897		28.43
Awards vested	—		—
Awards forfeited	(13,559	)	33.02
Nonvested at September 30, 2014	279,246		27.95