Equity-Based Compensation

9 Months Ended

Sep. 30, 2019

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

Equity-Based Compensation

Equity-Based Compensation

Delek US Holdings, Inc. 2006 and 2016 and Alon USA Energy, Inc. 2005 Long-Term Incentive Plans (collectively, the "Incentive Plans")

Compensation expense related to equity-based awards granted under the Incentive Plans amounted to $7.3 million ($5.8 million, net of taxes) and $18.7 million ($14.8 million, net of taxes) for the three and nine months ended September 30, 2019, respectively, and $5.4 million ($4.3 million, net of taxes) and $15.6 million ($12.3 million, net of taxes) for the three and nine months ended September 30, 2018, respectively. These amounts are included in general and administrative expenses in the accompanying condensed consolidated statements of income.

As of September 30, 2019, there was $51.3 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 2.3 years.

We issued 78,695 and 462,318 shares of common stock as a result of exercised or vested equity-based awards during the three and nine months ended September 30, 2019, respectively, and 90,552 and 535,613 shares for the three and nine months ended September 30, 2018, respectively. These amounts are net of 146,148 and 470,232 shares withheld to satisfy employee tax obligations related to the exercises and vestings during the three and nine months ended September 30, 2019, respectively, and 146,193 and 980,954 shares during the three and nine months ended September 30, 2018, respectively.

Delek Logistics GP, LLC 2012 Long-Term Incentive Plan

The Delek Logistics GP, LLC 2012 Long-Term Incentive Plan (the "LTIP") was adopted by the Delek Logistics GP, LLC board of directors in connection with the completion of Delek Logistics' initial public offering in November 2012. The LTIP is administered by the Conflicts Committee of the board of directors of Delek Logistics' general partner.