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Unit Based Awards
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Unit Based Awards Unit Based Awards
   
The Partnership recognizes compensation cost related to stock-based awards to employees in its consolidated financial statements in accordance with certain provisions of ASC 718. The Partnership recognizes compensation costs related to stock-based awards to directors under certain provisions of ASC 505-50-55 related to equity-based payments to non-employees.   Amounts recognized in selling, general, and administrative expense in the consolidated financial statements with respect to these plans are as follows:
 
For the Year Ended December 31,
 
2017
 
2016
 
2015
Employees
$
534

 
$
783

 
$
1,338

Non-employee directors
116

 
121

 
91

   Total unit-based compensation expense
$
650

 
$
904

 
$
1,429



Long-Term Incentive Plans
    
           The Partnership's general partner has a long term incentive plan for employees and directors of the general partner and its affiliates who perform services for the Partnership.
  
On May 26, 2017, the unitholders of the Partnership approved the Martin Midstream Partners L.P. 2017 Restricted Unit Plan. The plan currently permits the grant of awards covering an aggregate of 3,000,000 common units, all of which can be awarded in the form of restricted units. The plan is administered by the compensation committee of the general partner’s board of directors (the "Compensation Committee").
  
A restricted unit is a unit that is granted to grantees with certain vesting restrictions. Once these restrictions lapse, the grantee is entitled to full ownership of the unit without restrictions. In addition, the restricted units will vest upon a change of control of the Partnership, the general partner or Martin Resource Management or if the general partner ceases to be an affiliate of Martin Resource Management. The Partnership intends the issuance of the common units upon vesting of the restricted units under the plan to serve as a means of incentive compensation for performance and not primarily as an opportunity to participate in the equity appreciation of the common units. Therefore, plan participants will not pay any consideration for the common units they receive, and the Partnership will receive no remuneration for the units. The restricted units issued to directors generally vest in equal annual installments over a four-year period. Restricted units issued to employees generally cliff vest after three years of service.
  
 The restricted units are valued at their fair value at the date of grant which is equal to the market value of common units on such date. A summary of the restricted unit activity for the year ended December 31, 2017 is provided below:
 
Number of Units
 
Weighted Average Grant-Date Fair Value Per Unit
Non-vested, beginning of year
103,800

 
$
26.54

   Granted
12,000

 
$
19.00

   Vested
(7,800
)
 
$
19.18

   Forfeited
(9,250
)
 
$
28.50

Non-Vested, end of year
98,750

 
$
24.80

 
 
 
 
Aggregate intrinsic value, end of year
$
1,383

 
 
A summary of the restricted units’ aggregate intrinsic value (market value at vesting date) and fair value of units vested (market value at date of grant) during the years ended December 31, 2017, 2016 and 2015 is provided below:
 
For the Year Ended
December 31,
 
2017
 
2016
 
2015
Aggregate intrinsic value of units vested
$
143

 
$
1,233

 
$
110

Fair value of units vested
$
208

 
$
1,773

 
$
128



As of December 31, 2017, there was $269 of unrecognized compensation cost related to non-vested restricted units. That cost is expected to be recognized over a weighted-average period of 0.8 years.