| Summary of Unvested Shares |
A summary of the unvested shares of restricted common stock that have been issued is as follows:
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Restricted Shares of Common Stock |
|
Weighted Average Grant Date Fair Value |
|
Value |
|
|
|
(per share) |
|
(in millions) |
Ending Balance — December 31, 2017 |
1,399,593 |
|
|
$ |
18.73 |
|
|
$ |
26.2 |
|
Granted |
454,106 |
|
|
19.72 |
|
|
9.0 |
|
Vested |
(370,072 |
) |
|
18.88 |
|
|
(7.0 |
) |
Forfeited |
(96,871 |
) |
|
18.92 |
|
|
(1.8 |
) |
Ending Balance — December 31, 2018 |
1,386,756 |
|
|
$ |
19.00 |
|
|
$ |
26.4 |
|
Granted |
150,493 |
|
|
23.99 |
|
|
3.6 |
|
Vested |
(767,885 |
) |
|
18.90 |
|
|
(14.5 |
) |
Forfeited |
(5,789 |
) |
|
20.62 |
|
|
(0.1 |
) |
Ending Balance — September 30, 2019 |
763,575 |
|
|
$ |
20.07 |
|
|
$ |
15.4 |
|
A summary of the unvested shares of restricted stock units that have market-based vesting conditions that have been issued is as follows:
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Restricted Stock Units (1)
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|
Weighted Average Grant Date Fair Value |
|
Value |
|
|
|
(per share) |
|
(in millions) |
Ending Balance — December 31, 2017 |
255,706 |
|
|
$ |
18.99 |
|
|
$ |
4.9 |
|
Granted |
176,128 |
|
|
20.24 |
|
|
3.5 |
|
Vested |
(20,368 |
) |
|
18.99 |
|
|
(0.4 |
) |
Forfeited |
(18,318 |
) |
|
19.05 |
|
|
(0.3 |
) |
Ending Balance — December 31, 2018 |
393,148 |
|
|
$ |
19.55 |
|
|
$ |
7.7 |
|
Granted |
46,586 |
|
|
25.10 |
|
|
1.2 |
|
Vested |
(1,380 |
) |
|
21.68 |
|
|
— |
|
Forfeited |
(2,776 |
) |
|
22.23 |
|
|
(0.1 |
) |
Ending Balance — September 30, 2019 |
435,578 |
|
|
$ |
20.12 |
|
|
$ |
8.8 |
|
|
|
(1) |
As discussed in Note 2, restricted stock units with market-based vesting conditions can vest between 0% and 200% subject to both the absolute performance of the Company's common stock as well as relative performance compared to a group of peers.
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A summary of the unvested LTIP Units that have time-based vesting conditions that have been issued is as follows:
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|
LTIP Units (1)
|
|
Weighted Average Grant Date Fair Value |
|
Value |
|
|
|
(per share) |
|
(in millions) |
Ending Balance — December 31, 2018 |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Granted |
209,330 |
|
|
25.84 |
|
|
5.4 |
|
Vested |
(8,020 |
) |
|
25.82 |
|
|
(0.2 |
) |
Forfeited |
— |
|
|
— |
|
|
— |
|
Ending Balance — September 30, 2019 |
201,310 |
|
|
$ |
25.84 |
|
|
$ |
5.2 |
|
|
|
(1) |
See Note 4 for information on the vesting of LTIP Units. |
A summary of the unvested LTIP Units that have market-based vesting conditions that have been issued is as follows:
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|
|
|
LTIP Units (1)
|
|
Weighted Average Grant Date Fair Value |
|
Value |
|
|
|
(per share) |
|
(in millions) |
Ending Balance — December 31, 2018 |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Granted |
180,500 |
|
|
26.70 |
|
|
4.8 |
|
Vested |
— |
|
|
— |
|
|
— |
|
Forfeited |
— |
|
|
— |
|
|
— |
|
Ending Balance — September 30, 2019 |
180,500 |
|
|
$ |
26.70 |
|
|
$ |
4.8 |
|
(1)
See Note 4 for information on the vesting of LTIP Units. LTIP Units with market-based vesting conditions can vest between 0% and 200% subject to both the absolute performance of the Company's common stock as well as relative performance compared to a group of peers.
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