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Long-Term Incentive Plan Units | 9 Months Ended
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Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Long-Term Incentive Plan Units | Long-Term Incentive Plan Units LTIP Units held pursuant to the Company's incentive plans are generally exercisable by the holder at any time after vesting. Each unit is convertible into one common share. Costs associated with the LTIP Units issued under the Company's incentive plans are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with LTIP Units issued under the Company's incentive plans for each of the three month periods ended September 30, 2017 and 2016 was $0.1 million. Total expense associated with LTIP Units issued under the Company's incentive plans for each of the nine month periods ended September 30, 2017 and 2016 was $0.3 million. On September 12, 2017, the Company's Board of Directors authorized the issuance of 10,002 LTIP Units to its independent directors pursuant to the Company's 2017 Equity Incentive Plan. These LTIP Units will vest and become non-forfeitable on September 11, 2018. The below table details on the Company's unvested LTIP Units as of September 30, 2017:
Grant Recipient |  | Number of LTIP Units Granted |  | Grant Date |  | Vesting Date(1)
Independent directors: |  |  |  |  |  |
|  | 10,002 |  |  | September 12, 2017 |  | September 11, 2018
Partially dedicated employees: |  |  |  |  |  |
|  | 8,090 |  |  | December 13, 2016 |  | December 13, 2017
|  | 5,583 |  |  | December 13, 2016 |  | December 13, 2018
|  | 5,949 |  |  | December 15, 2015 |  | December 15, 2017
|  | 686 |  |  | December 15, 2015 |  | December 31, 2017
Total unvested LTIP Units at September 30, 2017 |  | 30,310 |  |  |  |  |
(1) | Date at which such LTIP Units will vest and become non-forfeitable.
The following table summarizes issuance and exercise activity of the Company's LTIP Units for the three month periods ended September 30, 2017 and 2016:
| Three Month Period Ended September 30, 2017 |  | Three Month Period Ended September 30, 2016
| Manager |  | Director/ Employee |  | Total |  | Manager |  | Director/ Employee |  | Total
LTIP Units Outstanding (6/30/2017 and 6/30/2016, respectively) | 375,000 |  |  | 94,539 |  |  | 469,539 |  |  | 375,000 |  |  | 74,938 |  |  | 449,938 |
Granted | — |  |  | 10,002 |  |  | 10,002 |  |  | — |  |  | 8,403 |  |  | 8,403 |
Exercised | — |  |  | (2,801 | ) |  | (2,801 | ) |  | — |  |  | (2,475 | ) |  | (2,475 | )
LTIP Units Outstanding (9/30/2017 and 9/30/2016, respectively) | 375,000 |  |  | 101,740 |  |  | 476,740 |  |  | 375,000 |  |  | 80,866 |  |  | 455,866 |
LTIP Units Vested and Outstanding (9/30/2017 and 9/30/2016, respectively) | 375,000 |  |  | 71,430 |  |  | 446,430 |  |  | 375,000 |  |  | 51,070 |  |  | 426,070 |
The following table summarizes issuance and exercise activity of the Company's LTIP Units for the nine month periods ended September 30, 2017 and 2016:
| Nine Month Period Ended September 30, 2017 |  | Nine Month Period Ended September 30, 2016
| Manager |  | Director/ Employee |  | Total |  | Manager |  | Director/ Employee |  | Total
LTIP Units Outstanding (12/31/2016 and 12/31/2015, respectively) | 375,000 |  |  | 94,539 |  |  | 469,539 |  |  | 375,000 |  |  | 74,938 |  |  | 449,938 |
Granted | — |  |  | 10,002 |  |  | 10,002 |  |  | — |  |  | 8,403 |  |  | 8,403 |
Exercised | — |  |  | (2,801 | ) |  | (2,801 | ) |  | — |  |  | (2,475 | ) |  | (2,475 | )
LTIP Units Outstanding (9/30/2017 and 9/30/2016, respectively) | 375,000 |  |  | 101,740 |  |  | 476,740 |  |  | 375,000 |  |  | 80,866 |  |  | 455,866 |
LTIP Units Vested and Outstanding (9/30/2017 and 9/30/2016, respectively) | 375,000 |  |  | 71,430 |  |  | 446,430 |  |  | 375,000 |  |  | 51,070 |  |  | 426,070 |
As of September 30, 2017, there were an aggregate of 1,922,188 common shares underlying awards, including LTIP Units, available for future issuance under the Company's 2017 Equity Incentive Plan.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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