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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2016
2014 MIP Plan |
Nonvested Stock Awards |
Summary of nonvested stock awards |
|  | Number of Shares |  | Weighted Average Grant Date Price |
Outstanding at January 1, 2016 |  | 740,400 |  | $ | 20.00 |
Granted |  | — |  | — |
Vested |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding at March 31, 2016 |  | 740,400 |  | $ | 20.00 |
Schedule of nonvested stock amortization expense |
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
General, administrative and management fees |  | $ | 1,536 |  | $ | 3,345 |
2015 EIP Plan | Restricted Stock Units |
Nonvested Stock Awards |
Summary of nonvested stock awards |
|  | Number of RSUs |  | Weighted Average Grant Date Price |
Outstanding at January 1, 2016 |  | 58,215 |  | $ | 7.15 |
Granted |  | — |  | — |
Vested |  | (23,286 | ) | 7.15 |
Forfeited |  | — |  | — |
Outstanding at March 31, 2016 |  | 34,929 |  | $ | 7.15 |
Unvested RSUs March 31, 2016 |  | Vested RSUs March 31, 2016 |
|  |  |  | Weighted |  |  |  |  |
|  | Weighted |  | Average |  |  |  | Weighted |
Number of RSUs |  | Average Grant Date Price |  | Remaining Contractual Life |  | Number of RSUs |  | Average Grant Date Price |
34,929 |  | $ | 7.15 |  | 0.12 |  | 39,474 |  | $ | 7.09 |
Schedule of nonvested stock amortization expense |
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
General, administrative and management fees |  | $ | 155 |  | $ | — |
2015 EIP Plan | Restricted Stock |
Nonvested Stock Awards |
Summary of nonvested stock awards |
|  | Number of Shares |  | Weighted Average Grant Date Price |
Outstanding at January 1, 2016 |  | — |  | $ | — |
Granted |  | 612,244 |  | 0.52 |
Vested |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding at March 31, 2016 |  | 612,244 |  | $ | 0.52 |
Schedule of nonvested stock amortization expense |
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
General, administrative and management fees |  | $ | 30 |  | $ | — |
Baltic Trading Plan |
Nonvested Stock Awards |
Schedule of nonvested stock amortization expense |
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
General, administrative and management fees |  | $ | — |  | $ | 816 |
Warrants | 2014 MIP Plan |
Nonvested Stock Awards |
Schedule of nonvested stock amortization expense |
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
General, administrative and management fees |  | $ | 3,765 |  | $ | 8,199 |
Summary of warrant activity and warrants outstanding |
|  | Number of Warrants |  | Weighted Average Exercise Price |  | Weighted Average Fair Value |
Outstanding at January 1, 2016 |  | 5,704,974 |  | $ | 30.31 |  | $ | 6.36 |
Granted |  | — |  | — |  | — |
Exercisable |  | — |  | — |  | — |
Exercised |  | — |  | — |  | — |
Forfeited |  | — |  | — |  | — |
Outstanding at March 31, 2016 |  | 5,704,974 |  | $ | 30.31 |  | $ | 6.36 |
The following table summarizes certain information about the warrants outstanding as of March 31, 2016:
|  | Warrants Outstanding, March 31, 2016 |  | Warrants Exercisable, March 31, 2016 |
|  |  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  | Weighted |  | Average |  |  |  | Weighted |  | Average |
Weighted |  |  |  | Average |  | Remaining |  |  |  | Average |  | Remaining |
Average |  | Number of |  | Exercise |  | Contractual |  | Number of |  | Exercise |  | Contractual |
Exercise Price |  | Warrants |  | Price |  | Life |  | Warrants |  | Price |  | Life |
$ | 30.31 |  | 5,704,974 |  | $ | 30.31 |  | 4.36 |  | 2,852,487 |  | $ | 30.31 |  | 4.36 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 + Details
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