Note (13)—Stock-Based Compensation:

The Company granted shares of common stock and restricted stock units as a part of its initial public offering and compensation arrangements for the benefit of employees, executive officers, and directors. Restricted stock unit grants are subject to time-based vesting. The total number of restricted stock units granted represents the maximum number of restricted stock units eligible to vest based upon the service conditions set forth in the grant agreements.

Following the initial public offering, participants in the EBI Plans were given the option to elect conversion of their outstanding cash-settled EBI Units to stock-settled EBI Units. At June 30, 2018 and December 31, 2017, there were 29,172 and 67,470 units valued at $1,188 and $2,833, respectively, outstanding under the equity based incentive plans for employees who elected cash settlement of EBI units. Expense related to the cash settled EBI was $102 and $219 for the three and six months ended June 30, 2018, respectively, and $184 and $482 for the three and six months ended June 30, 2017, respectively.

The following table summarizes information about vested and unvested restricted stock units, excluding cash-settled EBI units discussed above, outstanding at June 30, 2018 and 2017:

	Six Months Ended June 30,
	2018					2017
	Restricted Stock Units Outstanding			Weighted Average Grant Date Fair Value		Restricted Stock Units Outstanding			Weighted Average Grant Date Fair Value
Balance at beginning of period (unvested)		1,214,325		$	19.97		1,200,848		$	19.00
Grants		110,466			40.02		97,893			33.88
Released and distributed (vested)		(181,903	)		22.09		(70,819	)		19.00
Forfeited/expired		(7,060	)		21.81		(1,021	)		19.00
Balance at end of period (unvested)		1,135,828		$	21.59		1,226,901		$	19.67

The total fair value of restricted stock units vested and released, excluding cash-settled EBI units discussed above, was $404 and $4,018 for the three and six months ended June 30, 2018, respectively, and $3 and $1,346 for the three and six months ended June 30, 2017, respectively.

The compensation cost related to stock grants and vesting of restricted stock units, excluding cash-settled EBI units discussed above, was $1,861 and $3,819 for the three and six months ended June 30, 2018, respectively, and $1,802 and $3,154 for the three and six months ended June 30, 2017, respectively. The current period included a one-time expense of $249 related to the modification of vesting terms of certain grants during the six months ended June 30, 2018.

As of June 30, 2018 and December 31, 2017, there were $14,061 and $12,950, respectively, of total unrecognized compensation cost related to nonvested restricted stock units (excluding cash-settled EBI units discussed above) which is expected to be recognized over a weighted-average period of 2.78 years and 2.80 years, respectively. At June 30, 2018, there was $70 accrued in other liabilities related to dividends declared to be paid upon vesting and distribution of the underlying RSUs.

Employee Stock Purchase Plan:

In 2016, the Company adopted an employee stock purchase plan (“ESPP”) under which employees, through payroll deductions, are able to purchase shares of Company common stock. The purchase price is 95% of the lower of the market price on the first or last day of the offering period. The maximum number of shares issuable during any offering period is 200,000 shares, and a participant may not purchase more than 725 shares during any offering period (and, in any event, no more than $25,000 worth of common stock in any calendar year). There were 0 and 16,537 shares issued under the ESPP during the three and six months ended June 30, 2018, respectively. There were no such issuances during the three or six months ended June 30, 2017. As of June 30, 2018 and December 31, 2017, there were 2,444,428 shares and 2,460,965 shares, respectively, available for issuance under the ESPP.