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STOCK BASED AND OTHER COMPENSATION PLANS (Tables)
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock based compensation plans summary
The following table summarizes the impact on the consolidated statement of operations of the various stock based compensation plans described in this note ($ in thousands):

 
Three Months Ended March 31,
 
2019
 
2018
 
 
 
 
Stock Based Compensation Expense:
 
 
 
Annual Incentive Awards Granted in 2015 with Respect to 2014 Performance
$
—

 
$
172

Annual Incentive Awards Granted in 2016 with Respect to 2015 Performance
132

 
322

Annual Incentive Awards Granted in 2017 with Respect to 2016 Performance(1)
394

 
622

Other 2017 Restricted Stock Awards(1)
51

 
105

Annual Incentive Awards Granted in 2017 with Respect to 2017 Performance(1)
785

 
1,117

2018 Restricted Stock Awards
32

 
42

Other 2018 Restricted Stock Awards(1)
10

 
—

Annual Incentive Awards Granted in 2019 with Respect to 2018 Performance(1)
9,814

 
—

2019 Restricted Stock Awards
62

 
—

Other Employee/Director Awards
12

 
20

Total Stock Based Compensation Expense
$
11,292

 
$
2,400

 
 
 
 
Phantom Equity Investment Plan
$
802

 
$
—

Ladder Capital Corp Deferred Compensation Plan
$
—

 
$
427

Bonus Expense
$
6,785

 
$
10,140

 
(1)
Includes immediate vesting of retirement eligible employees, including Brian Harris, our Chief Executive Officer.
Summary of the grants
A summary of the grants is presented below ($ in thousands):
 
Three Months Ended March 31,
 
2019
 
2018
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares
 
Weighted
Average
Fair Value
 
 
 
 
 
 
 
 
Grants - Class A Common Stock (restricted)
1,541,683

 
$
27,071

 
25,370

 
$
375

Grants - Class A Common Stock (restricted) dividends
11,113

 
185

 
—

 
—

Stock Options
12,073

 
—

 
—

 
—

 
 

 
 

 
 

 
 

Amortization to compensation expense
 
 
 
 
 
 
 
Ladder compensation expense
 

 
(11,292
)
 
 

 
(2,400
)
Total amortization to compensation expense
 

 
$
(11,292
)
 
 

 
$
(2,400
)
Schedule of nonvested shares activity
The table below presents the number of unvested shares and outstanding stock options at March 31, 2019 and changes during 2019 of the Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
 
 
 
Nonvested/Outstanding at December 31, 2018
1,118,194

 
982,135

Granted
1,552,114

 
12,073

Exercised
 
 
—

Vested
(1,102,027
)
 
 
Forfeited
—

 
—

Expired
 
 
—

Nonvested/Outstanding at March 31, 2019
1,568,281

 
994,208

 
 
 
 
Exercisable at March 31, 2019
 
 
994,208

The table below presents the number of unvested shares and outstanding stock options at March 31, 2018 and changes during 2018 of the Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
 
 
 
Nonvested/Outstanding at December 31, 2017
1,252,365

 
982,135

Granted
25,370

 
—

Exercised
 
 
—

Vested
(117,777
)
 
 
Forfeited
(11,169
)
 
—

Expired
 
 
—

Nonvested/Outstanding at March 31, 2018
1,148,789

 
982,135

 
 
 
 
Exercisable at March 31, 2018
 
 
929,701