Long-Term Incentive Plan Units (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Unvested LTIP Units

The below table details unvested OP LTIP Units as of December 31, 2019:

Grant Recipient	Number of OP LTIP Units Granted	Grant Date	Vesting Date(1)
Directors:
	14,552	September 11, 2019	September 10, 2020
Partially dedicated employees:
	12,818	December 13, 2019	December 13, 2020
	10,067	December 13, 2019	December 13, 2021
	8,691	December 11, 2018	December 11, 2020
Total unvested OP LTIP Units at December 31, 2019	46,128

(1)

Date at which such OP LTIP Units will vest and become non-forfeitable.

The below table details unvested OP LTIP Units as of December 31, 2018:

Grant Recipient	Number of OP LTIP Units	Grant Date	Vesting Date(1)
Directors:
	14,440	September 12, 2018	September 11, 2019
Partially dedicated employees:
	8,692	December 11, 2018	December 11, 2019
	8,691	December 11, 2018	December 11, 2020
	1,723	March 7, 2018	March 7, 2019
	5,886	December 12, 2017	December 12, 2019
Total unvested OP LTIP Units at December 31, 2018	39,432

(1)

Date at which such OP LTIP Units will vest and become non-forfeitable.

Roll-Forward of Company's LTIP Units Outstanding

The following table summarizes issuance and exercise activity of OP LTIP Units for the year ended December 31, 2019:

	Year Ended December 31, 2019
	Manager		Director/ Employee		Total
OP LTIP Units Outstanding (January 1, 2019)	375,000		146,371		521,371
Granted	—		37,437		37,437
Exercised	(9,482	)	(3,610	)	(13,092	)
OP LTIP Units Outstanding (December 31, 2019)	365,518		180,198		545,716
OP LTIP Units Unvested and Outstanding (December 31, 2019)	—		46,128		46,128
OP LTIP Units Vested and Outstanding (December 31, 2019)	365,518		134,070		499,588

The following table summarizes issuance and exercise activity of LTIP Units and OP LTIP Units for the year ended December 31, 2018:

	Year Ended December 31, 2018
	Manager	Director/ Employee		Total
LTIP Units and OP LTIP Units Outstanding (December 31, 2017)	375,000	116,159		491,159
Granted	—	33,546		33,546
Exercised	—	(3,334	)	(3,334	)
LTIP Units and OP LTIP Units Outstanding (December 31, 2018)	375,000	146,371		521,371
LTIP Units and OP LTIP Units Vested and Outstanding (December 31, 2018)	375,000	106,939		481,939