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STOCK BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2014
2014 MIP Plan |
Nonvested Stock Awards |
Summary of nonvested stock awards |
|  | Number of Shares |  | Weighted Average Grant Date Price |
Outstanding at July 9, 2014 - Successor |  | — |  | $ | — |
Granted |  | 1,110,600 |  | 20.00 |
Vested |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding at December 31, 2014 - Successor |  | 1,110,600 |  | $ | 20.00 |
Summary of warrants outstanding |
|  | Number of Warrants |  | Weighted Average Exercise Price |  | Weighted Average Fair Value |
Outstanding at July 9, 2014 - Successor |  | — |  | $ | — |  | $ | — |
Granted |  | 8,557,461 |  | 30.31 |  | 6.36 |
Exercised |  | — |  | — |  | — |
Forfeited |  | — |  | — |  | — |
Outstanding at December 31, 2014 - Successor |  | 8,557,461 |  | $ | 30.31 |  | $ | 6.36 |
|  | Warrants Outstanding, December 31, 2014 |  | Warrants Exercisable, December 31, 2014 |
|  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  | Weighted |  | Average |  |  |  | Weighted |
Weighted Average Exercise Price |  | Number of Warrants |  | Average Exercise Price |  | Remaining Contractual Life |  | Number of Warrants |  | Average Exercise Price |
$ | 30.31 |  | 8,557,461 |  | $ | 30.31 |  | 5.60 |  | — |  | — |
Schedule of nonvested stock amortization expense |
|  | Successor |
|  | Period from July 9 to December 31, 2014 |
General, administrative and management fees |  | $ | 5,464 |
Baltic Trading Plan |
Nonvested Stock Awards |
Summary of nonvested stock awards |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | Number of Baltic Trading Common Shares |  | Weighted Average Grant Date Price |  | Number of Baltic Trading Common Shares |  | Weighted Average Grant Date Price |  | Number of Baltic Trading Common Shares |  | Weighted Average Grant Date Price |
Outstanding at January 1 |  | 1,381,429 |  | $ | 6.03 |  | 664,249 |  | $ | 7.70 |  | 545,750 |  | $ | 11.60 |
Granted |  | 1,086,345 |  | 2.61 |  | 998,680 |  | 5.60 |  | 299,999 |  | 3.04 |
Vested |  | (525,930 | ) | 7.21 |  | (281,500 | ) | 8.48 |  | (181,500 | ) | 11.71 |
Forfeited |  | — |  | — |  | — |  | — |  | — |  | — |
Outstanding at December 31 |  | 1,941,844 |  | $ | 3.80 |  | 1,381,429 |  | $ | 6.03 |  | 664,249 |  | $ | 7.70 |
Schedule of nonvested stock amortization expense |
|  | Successor |  | Predecessor |
|  | Period from July 9 to December 31, |  | Period from January 1 to July 9, |  | Year Ended December 31, |
|  | 2014 |  | 2014 |  | 2013 |  | 2012 |
General, administrative and management fees |  | $ | 1,551 |  | $ | 1,949 |  | $ | 1,558 |  | $ | 1,777 |
Predecessor | 2005 and 2012 GS&T Plans |
Nonvested Stock Awards |
Summary of nonvested stock awards | The table below summarizes the Predecessor Company’s nonvested stock awards for the period from January 1, 2012 to July 9, 2014 under the 2005 and 2012 GS&T Plans:
|  | Number of Shares |  | Weighted Average Grant Date Price |
Outstanding at January 1, 2014 - Predecessor |  | 880,465 |  | $ | 7.77 |
Granted |  | — |  | — |
Vested |  | (880,465 | ) | 7.77 |
Forfeited |  | — |  | — |
Outstanding at July 9, 2014 - Predecessor |  | — |  | $ | — |
|  | Year Ended December 31, |
|  | 2013 |  | 2012 |
|  | Number of Shares |  | Weighted Average Grant Date Price |  | Number of Shares |  | Weighted Average Grant Date Price |
Outstanding at January 1 - Predecessor |  | 1,108,762 |  | $ | 9.47 |  | 936,787 |  | $ | 14.06 |
Granted |  | 200,634 |  | 1.57 |  | 464,175 |  | 2.71 |
Vested |  | (407,431 | ) | 9.46 |  | (290,700 | ) | 13.49 |
Forfeited |  | (21,500 | ) | 5.53 |  | (1,500 | ) | 6.39 |
Outstanding at December 31 - Predecessor |  | 880,465 |  | $ | 7.77 |  | 1,108,762 |  | $ | 9.47 |
Schedule of nonvested stock amortization expense |
|  | Predecessor |
|  | Period from January 1 to July 9, |  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
General, administrative and management fees |  | $ | 2,403 |  | $ | 2,924 |  | $ | 4,087 |

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