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Omnibus Incentive Compensation Plan
6 Months Ended
Jun. 30, 2018
Omnibus Incentive Compensation Plan [Abstract]  
Omnibus Incentive Compensation Plan

9. Omnibus Incentive Compensation Plan

 

As of June 30, 2018 the unvested units accrued $514 of distributions.

 

The following table contains details of the plan: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Employee
equity compensation

 

  

Non-Employee
equity compensation

 

Unvested Units

  

Units

 

  

Grant-date
fair value

 

  

Units

 

  

Award-date
fair value

 

Unvested on January 1, 2018

  

 

170,002

 

 

$

939

 

 

 

375,000

 

 

$

2,598

 

Vested

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

Unvested on June 30, 2018

  

 

170,002

 

 

$

939

 

 

 

375,000

 

 

$

2,598

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

For the six-month periods ended June 30, 2018 and 2017 the equity compensation expense that has been charged in the unaudited condensed consolidated statements of comprehensive income was $217 for each period for the employee awards and $249 and $361 for the non-employee awards, respectively. This expense has been included in “General and administrative expenses” in the unaudited condensed consolidated statements of comprehensive income.

As of June 30, 2018 the total unrecognized compensation cost related to non-vested awards is $462 and is expected to be recognized over a weighted average period of 0.5 year. The Partnership uses the straight-line method to recognize the cost of the awards.