Unit-Based Compensation

12 Months Ended

Dec. 31, 2017

10. UNIT-BASED COMPENSATION

The board of directors of the general partner adopted the LTIP upon completion of the IPO. The LTIP is intended to promote the interests of the partnership, its general partner and affiliates by providing incentive compensation awards based on units to employees, consultants and directors to encourage superior performance. The LTIP reserves 2,500,000 common units for issuance in the form of options, restricted units, phantom units, distribution equivalent rights, substitute awards, unit appreciation rights, unit awards, profits interest units or other unit-based awards. The partnership measures unit-based compensation grants at fair value on the grant date and records noncash compensation expense related to the awards on a straight-line basis over the requisite service period.

The non-vested unit-based award activity for the year ended December 31, 2017, is as follows:


	Non-Vested Units		Weighted-Average Grant-Date Fair Value	Weighted-Average Remaining Vesting Term (in years)
Non-Vested at December 31, 2016	15,009	$	15.99
Granted	15,827		18.96
Forfeited	(4,278)		18.70
Vested	(15,009)		15.99
Non-Vested at December 31, 2017	11,549	$	19.06	0.5

Compensation costs related to the unit-based awards of approximately $219 thousand, $143 thousand and $67 thousand were recognized during the years ended December 31, 2017, 2016 and 2015, respectively. At December 31, 2017, there were $119 thousand of unrecognized compensation costs from unit-based compensation awards.