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STOCK BASED AND OTHER COMPENSATION PLANS (Tables) | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Stock based compensation plans summary | The following table summarizes the impact on the consolidated statements of income of the various stock-based compensation plans and other compensation plans ($ in thousands):
| Three Months Ended March 31, |  |  |  |  |
| 2023 |  | 2022 |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense | $ | 9,124 |  |  | $ | 20,412 |  |  |  |  |  |  |  |  |  |  |  |
Total Stock Based Compensation Expense(1) | $ | 9,124 |  |  | $ | 20,412 |  |  |  |  |  |  |  |  |  |  |  |
(1)Variance between the three months ended March 31, 2023 and March 31, 2022 is primarily due to timing of the 2022 and 2021 grants of employee stock-based compensation.
Summary of the grants | A summary of the grants is presented below:
| Three Months Ended March 31, |  |  |  |
| 2023 |  | 2022 |  |  |  |  |  |  |  |  |  |
| Number of Shares/Options |  | Weighted Average Fair Value Per Share |  | Number of Shares |  | Weighted Average Fair Value Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grants - Class A Common Stock | 1,417,561 |  |  | $ | 11.58 |  |  | 2,843,340 |  |  | $ | 11.89 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of nonvested shares activity | The table below presents the number of unvested shares of Class A common stock and outstanding stock options at March 31, 2023 and changes during 2023 of the Class A common stock and stock options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:
| Restricted Stock |  | Weighted Average Grant Date Fair Value |  | Stock Options |  |
Nonvested/Outstanding at December 31, 2022 | 2,529,571 |  |  | $ | 12.62 |  |  | 623,788 |  |  |
Granted | 1,417,561 |  |  | 11.58 |  |  | — |  |  |
Vested | (1,697,350) |  |  | 12.14 |  |  | — |  |  |
Forfeited | (32,446) |  |  | 10.32 |  |  | — |  |  |
Nonvested/Outstanding at March 31, 2023 | 2,217,336 |  |  | $ | 12.36 |  |  | 623,788 |  |  |
Exercisable at March 31, 2023 (1) |  |  |  |  | 623,788 |  |  |
(1)The weighted average exercise price of outstanding options is $14.84 at March 31, 2023.

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- Definition Tabular disclosure of grants during the period and amortization to compensation expense for the grants for non-vested equity-based payment instruments, excluding stock (or unit) options that validly exist and are outstanding as of the balance sheet date. + References No definition available. + Details
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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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