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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based compensation, performance shares award outstanding activity
The following table summarizes the activity related to the Class B Units for the three months ended March 31, 2017:
 
 
Class B Units

 
Employee
 
Non-employee
 
Total Class B Units
 
 
Number of Units
 
Weighted Average Fair Value
 
Number of Units
 
Weighted Average Fair Value
 
Number of Units
 
Weighted Average Fair Value
Balance, December 31, 2016
 
9,915

 
$
4.2

 
39,638

 
$
2.5

 
49,553

 
$
2.9

Granted
 
85

 
14.0

 
9,753

 
—

 
9,838

 
0.1

Converted to RSAs
 
(245
)
 
(3.4
)
 
(485
)
 
(0.8
)
 
(730
)
 
(1.7
)
Canceled
 
(555
)
 
(8.2
)
 
(17,114
)
 
(0.4
)
 
(17,669
)
 
(0.6
)
Converted to Units of affiliated entities
 
(9,200
)
 
(4.0
)
 
(31,792
)
 
(2.9
)
 
(40,992
)
 
(3.2
)
Balance, March 31, 2017
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—
Schedule of share-based compensation, restricted stock and restricted stock units
The following tables summarize the status of non-vested RSUs and RSAs as of March 31, 2017 and changes during the period from January 31, 2017 through March 31, 2017:
 
 
RSUs
 
RSAs
 
Total Share-Based Awards
 
 
Number
 
Weighted Average
Grant Date
Fair Value
(Actual $)
 
Number
 
Weighted Average
Grant Date
Fair Value
(Actual $)
 
Number
 
Weighted Average
Grant Date
Fair Value
(Actual $)
Balance, January 1, 2017
 
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Granted
 
3,290,126

 
20.00

 
62,529

 
15.50

 
3,352,655

 
19.92

Vested(1)
 
(1,405,070
)
 
(20.00
)
 
(51,039
)
 
(15.88
)
 
(1,456,109
)
 
(19.86
)
Forfeited
 
(51,252
)
 
(20.00
)
 
—

 
—

 
(51,252
)
 
(20.00
)
Balance, March 31, 2017
 
1,833,804

 
$
20.00

 
11,490

 
$
13.83

 
1,845,294

 
$
19.96

 
(1)
All vested RSAs and RSUs are included in basic EPS for the period during which they are outstanding. However, the vested RSUs will not settle with the individual awardees until July 30, 2017, and therefore are not included in legally outstanding shares of common stock as of March 31, 2017.
Schedule of compensation cost for share-baed payment arrangements, allocation of share-based compensation costs by plan
During the three months ended March 31, 2017 and 2016, we recognized $44,244 and $4,206 respectively, of share-based compensation expense, comprised of the following:
 
 
Share-Based Compensation Expense for the Three Months Ended March 31,
 
 
 
 
2017
 
2016
 
 
 
 
General and Administrative
 
Property Management Expense
 
General and Administrative
 
Property Management Expense
 
Unrecognized Expense at
March 31, 2017
Class B Units
 
$
11,998

 
$
3

 
$
4,051

 
$
155

 
$
—

RSUs
 
28,463

 
4,020

 
—

 
—

 
32,294

RSAs
 
(190
)
 
(50
)
 
—

 
—

 
28

Total
 
$
40,271

 
$
3,973

 
$
4,051

 
$
155

 
$
32,322