STOCK BASED COMPENSATION

3 Months Ended

Mar. 31, 2017

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

All stock based compensation to employees is recorded as "Selling, general and administrative expenses" in the Consolidated Statements of Operations based on the fair value at the grant date of the award. These non-cash compensation costs are included in the depreciation and amortization amounts in the Consolidated Statements of Cash Flows.

A summary of stock based compensation expense is as follows (in thousands):



	Three Months Ended March 31,
	2017		2016
Restricted stock/unit awards (“RSA”)	$	41	$	65
Performance share incentives (“PSI”)	7		—
	$	48	$	65

There were 24,350 RSAs granted during the three months ended March 31, 2017, and no RSAs granted during the same three months ended March 31, 2016. The fair value of the 2017 RSAs granted was $0.3 million. The deferred compensation is being amortized on a straight-line basis over the three year service period.

There were 24,350 PSIs granted during the three months ended March 31, 2017 and no PSIs granted during the three months ended March 31, 2016. The fair value of the 2017 PSIs granted was $0.3 million. The deferred compensation with respect to the PSIs is being recognized into earnings based on the passage of time and achievement of performance targets. All outstanding RSAs and PSIs are unvested.

Unrecognized compensation and the expected weighted-average recognition periods with respect to the outstanding RSAs and PSIs as of March 31, 2017 and December 31, 2016, are as follows:



	March 31, 2017				December 31, 2016
	RSAs		PSIs		RSAs		PSIs
Unrecognized compensation cost (in thousands)	$	336	$	766	$	113	$	520

Expected weighted-average recognition period for unrecognized compensation cost (in years)	1.55		1.42		0.92		0.97