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Stock-Based Incentive Plans
 6 Months Ended
Jun. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Incentive Plans
14. STOCK-BASED INCENTIVE PLANS
We are externally managed by our Manager and do not currently have any employees. However, as of June 30, 2021, our Manager, certain individuals employed by an affiliate of our Manager, and certain members of our board of directors were compensated, in part, through our issuance of stock-based instruments.
We had stock-based incentive awards outstanding under nine benefit plans as of June 30, 2021. Seven of such benefit plans have expired and no new awards may be issued under them. Under our two current benefit plans, a maximum of 5,000,000 shares of our class A common stock may be issued to our Manager, our directors and officers, and certain employees of affiliates of our Manager. As of June 30, 2021, there were 2,006,886 shares available under our current benefit plans.
The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-average grant date fair value per share:
 
    
Restricted Class A
Common Stock
     
Weighted-Average

Grant Date Fair

Value Per Share
  
Balance as of December 31, 2020
      1,627,890      $ 33.14  
Granted
      263,809        26.16  
Vested
      (437,917 )       33.74  
Forfeited
      (28,971 )       31.42  
    
 
 
     
 
 
  
Balance as of June 30, 2021
      1,424,811      $ 31.69  
    
 
 
     
 
 
  
These shares generally vest in installments over a three-year period, pursuant to the terms of the respective award agreements and the terms of our current benefit plans. The 1,424,811 shares of restricted class A common stock outstanding as of June 30, 2021 will vest as follows: 520,285 shares will vest in 2021; 626,746 shares will vest in 2022; and 277,780 shares will vest in 2023. As of June 30, 2021, total unrecognized compensation cost relating to unvested share-based compensation arrangements was $41.6 million based on the grant date fair value of shares granted. This cost is expected to be recognized over a weighted-average period of 1.1 years from June 30, 2021.