Related Party Transactions

6 Months Ended

Jun. 30, 2019

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

On February 23, 2018, the Chief Executive Officer (“CEO”) of the Company elected to waive all of his compensation that he would have otherwise been entitled to for the period of March 1, 2018 through December 31, 2018.  On December 26, 2018, the CEO elected to continue to waive all of his compensation that he would otherwise have been entitled to for the period from January 1, 2019 to March 31, 2019.  For the three months ended June 30, 2018, the waiver reduced compensation by $14.2 million and management fee expense by $3.0 million.  For the six months ended June 30, 2019 and 2018, the waiver reduced compensation by $12.2 million and $19.1 million, respectively, and management fee expense by $1.7 million and $4.7 million, respectively.