Stock-Based Compensation

9 Months Ended

Sep. 30, 2017

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

Incentive Award Plan

Effective June 19, 2015, the Company's board of directors adopted and approved the InvenTrust Properties Corp. 2015 Incentive Award Plan (as amended, the "Incentive Award Plan"), under which the Company may grant cash and equity incentive awards to eligible employees, directors, and consultants. Under the Incentive Award Plan, the Company is authorized to grant up to 30,000,000 shares of the Company's common stock pursuant to awards under the plan. At September 30, 2017, 24,714,297 shares were available for future issuance under the Incentive Award Plan. A summary of the Company's restricted stock unit activity as of September 30, 2017 is as follows:



	Restricted Stock Units		Share Price at Grant Date
Outstanding at December 31, 2016	1,646,523		(a)
Restricted stock units granted in 2017	35,829		$3.14
Restricted stock units granted in 2017	1,964,442		3.29
Restricted stock units vested, granted in 2015	(25,498	)	4.00
Restricted stock units vested, granted in 2016	(191,009	)	3.14
Restricted stock units vested, granted in 2017	(11,824	)	3.14
Restricted stock units vested, granted in 2017	(87,677	)	3.29
Restricted stock units forfeited, granted in 2015	(10,643	)	4.00
Restricted stock units forfeited, granted in 2016	(67,694	)	3.14
Restricted stock units forfeited, granted in 2017	(7,929	)	3.29
Outstanding at September 30, 2017	3,244,520		(a)


(a)	The weighted average grant date price per share of common stock underlying the unvested restricted stock units based on total outstanding restricted stock units as of September 30, 2017 and December 31, 2016 was $3.29.

At September 30, 2017, there was $6,917 of total unrecognized compensation expense for unvested stock-based compensation arrangements granted under the Incentive Award Plan for 1,403,736, 1,273,622 and 567,162 unvested shares vesting in 2017, 2018 and 2019, respectively. Stock-based compensation expense is amortized on a straight-line basis over the vesting period. The Company recognized stock-based compensation expense of $1,616 and $4,325 for the three and nine months ended September 30, 2017, respectively, and $1,247 and $2,583 for the three and nine months ended September 30, 2016, respectively, related to the Incentive Award Plan. The Company has elected to account for stock-based compensation forfeitures as they occur.