| Roll-Forward of Company's LTIP Units Outstanding |
Detailed below is a roll-forward of the Company's LTIP units outstanding for the years ended December 31, 2014, 2013, and 2012: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2014 | | Year Ended December 31, 2013 | | Year Ended December 31, 2012 | | Manager | | Director/ Employee | | Total | | Manager | | Director/ Employee | | Total | | Manager | | Director/ Employee | | Total | LTIP Units Outstanding (12/31/2013, 12/31/2012, and 12/31/2011, respectively) | 375,000 |
| | 36,052 |
| | 411,052 |
| | 375,000 |
| | 22,096 |
| | 397,096 |
| | 375,000 |
| | 15,500 |
| | 390,500 |
| Granted | — |
| | 20,084 |
| | 20,084 |
| | — |
| | 15,738 |
| | 15,738 |
| | — |
| | 7,846 |
| | 7,846 |
| Exercised | — |
| | (1,822 | ) | | (1,822 | ) | | — |
| | (1,782 | ) | | (1,782 | ) | | — |
| | (1,250 | ) | | (1,250 | ) | LTIP Units Outstanding (12/31/2014, 12/31/2013, and 12/31/2012, respectively) | 375,000 |
| | 54,314 |
| | 429,314 |
| | 375,000 |
| | 36,052 |
| | 411,052 |
| | 375,000 |
| | 22,096 |
| | 397,096 |
| LTIP Units Vested and Outstanding (12/31/2014, 12/31/2013, and 12/31/2012, respectively) | 375,000 |
| | 29,859 |
| | 404,859 |
| | 375,000 |
| | 20,314 |
| | 395,314 |
| | 375,000 |
| | 14,250 |
| | 389,250 |
|
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