Long-Term Incentive Plan Units (Tables)

6 Months Ended

Jun. 30, 2016

The below table details on the Company's unvested LTIP units:



Grant Recipient	Number of LTIP units Granted	Grant Date	Vesting Date⁽¹⁾
Independent directors:
	7,425	September 15, 2015	September 14, 2016
Partially dedicated employees:
	7,822	December 15, 2015	December 15, 2016
	689	December 15, 2015	December 31, 2016
	5,949	December 15, 2015	December 15, 2017
	686	December 15, 2015	December 31, 2017
	6,247	December 11, 2014	December 11, 2016
Total unvested LTIP units at June 30, 2016	28,818


(1)	Date at which such LTIP units will vest and become non-forfeitable.

The following table summarizes issuance and exercise activity of the Company's LTIP units for the three month periods ended June 30, 2016 and 2015:



	Three Month Period Ended June 30, 2016			Three Month Period Ended June 30, 2015
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
LTIP Units Outstanding (3/31/2016 and 3/31/2015, respectively)	375,000	74,938	449,938	375,000	54,314	429,314
Granted	—	—	—	—	—	—
Exercised	—	—	—	—	—	—
LTIP Units Outstanding (6/30/2016 and 6/30/2015, respectively)	375,000	74,938	449,938	375,000	54,314	429,314
LTIP Units Vested and Outstanding (6/30/2016 and 6/30/2015, respectively)	375,000	46,120	421,120	375,000	29,859	404,859

The following table summarizes issuance and exercise activity of the Company's LTIP units for the six month periods ended June 30, 2016 and 2015:



	Six Month Period Ended June 30, 2016			Six Month Period Ended June 30, 2015
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
LTIP Units Outstanding (12/31/2015 and 12/31/2014, respectively)	375,000	74,938	449,938	375,000	54,314	429,314
Granted	—	—	—	—	—	—
Exercised	—	—	—	—	—	—
LTIP Units Outstanding (6/30/2016 and 6/30/2015, respectively)	375,000	74,938	449,938	375,000	54,314	429,314
LTIP Units Vested and Outstanding (6/30/2016 and 6/30/2015, respectively)	375,000	46,120	421,120	375,000	29,859	404,859