Stock-based Payments and Director Fees (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of management fees and director fees

The following table sets forth the Company’s stock-based independent director fees ($ in thousands):

Stock-based Director Fees

	For the three months ended September 30,
	2021			2020
	Number of shares	Amount of expense recognized(1)		Number of shares	Amount of expense recognized(1)
Independent director fees	3,580	$	50	4,116	$	35
Totals	3,580	$	50	4,116	$	35

	For the nine months ended September 30,
	2021			2020
	Number of shares	Amount of expense recognized(1)		Number of shares	Amount of expense recognized(1)
Independent director fees	11,550	$	150	12,784	$	115
Totals	11,550	$	150	12,784	$	115

(1)All independent director fees are fully expensed in the period in which the relevant service is received by the Company.

Schedule of grants of restricted stock

Under the Company’s 2014 Director Equity Plan and 2016 Equity Incentive Plan the Company made grants of restricted stock to its Directors and to employees of its Manager and Servicer as set forth the table below:

	Employee and Service Provider Grants			Director Grants
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Nine months ended September 30, 2021
December 31, 2020 outstanding unvested share grants	163,083	$	11.07	—	$	—
Shares vested	—	—		(2,000)	12.00
Shares forfeited	—	—		—	—
Shares granted	—	—		2,000	12.00
March 31, 2021 outstanding unvested share grants	163,083	$	11.07	—	$	—
Shares vested	—	—		(8,000)	12.60
Shares forfeited	—	—		—	—
Shares granted	—	—		16,000	12.60
June 30, 2021 outstanding unvested share grants	163,083	$	11.07	8,000	$	12.60
Shares vested	(65,305)	11.74		—	—
Shares forfeited	(14,168)	10.88		—	—
Shares granted	152,700	12.79		—	—
September 30, 2021 outstanding unvested share grants	236,310	$	12.01	8,000	$	12.60

	Employee and Service Provider Grants			Director Grants
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Nine months ended September 30, 2020
December 31, 2019 outstanding unvested share grants	114,334	$	13.83	—	$	—
Shares vested	—	—		—	—
Shares forfeited	—	—		—	—
Shares granted	—	—		—	—
March 31, 2020 outstanding unvested share grants	114,334	$	13.83	—	$	—
Shares vested	—	—		—	—
Shares forfeited	—	—		—	—
Shares granted	—	—		—	—
June 30, 2020 outstanding unvested share grants	114,334	$	13.83	—	$	—
Shares vested	(50,334)	13.86		—	—
Shares forfeited	(2,000)	12.06		—	—
Shares granted	108,750	9.55		—	—
September 30, 2020 outstanding unvested share grants	170,750	$	11.11	—	$	—

Schedule of restricted stock plan grants, expense

The following table presents the expenses for the Company's restricted stock plan for the years ended ($ in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Restricted stock grants	$	230	$	187	$	644	$	535
Director grants	25		—		167		—
Total expenses for plan grants	$	255	$	187	$	811	$	535