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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

2014 MIP Plan

	Number of Shares	Weighted Average Grant Date Price
Outstanding at January 1, 2015 - Successor	1,110,600	$	20.00
Granted	—	—
Vested	—	—
Forfeited	—	—

Outstanding at March 31, 2015 - Successor	1,110,600	$	20.00

Summary of warrant activity and warrants outstanding

	Number of Warrants	Weighted Average Exercise Price		Weighted Average Fair Value
Outstanding at January 1, 2015 - Successor	8,557,461	$	30.31	$	6.36
Granted	—	—		—
Exercised	—	—		—
Forfeited	—	—		—

Outstanding at March 31, 2015 - Successor	8,557,461	$	30.31	$	6.36

The following table summarizes certain information about the warrants outstanding as of March 31, 2015:

		Warrants Outstanding, March 31, 2015				Warrants Exercisable, March 31, 2015
					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	5.36	—	—

Schedule of nonvested stock amortization expense

	Successor
	Three Months Ended March 31, 2015
General, administrative and management fees	$	3,345

Baltic Trading Plan

Nonvested Stock Awards

Summary of nonvested stock awards

	Number of Baltic Trading Common Shares	Weighted Average Grant Date Price
Outstanding at January 1, 2015	1,941,844	$	3.80
Granted	—	—
Vested	—	—
Forfeited	—	—

Outstanding at March 31, 2015	1,941,844	$	3.80

Schedule of nonvested stock amortization expense

	Successor		Predecessor
	Three Months Ended March 31, 2015		Three Months Ended March 31, 2014
General, administrative and management fees	$	816	$	963

Predecessor | 2005 and 2012 GS&T Plans

Nonvested Stock Awards

Schedule of nonvested stock amortization expense

	Predecessor
	Three Months Ended March 31, 2014
General, administrative and management fees	$	427

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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