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Long-Term Incentive Plan Units
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Long-Term Incentive Plan Units Long-Term Incentive Plan Units
OP LTIP Units issued under the Company's incentive plans are generally exercisable by the holder at any time after vesting. Each OP LTIP Unit is convertible into an OP Unit on a one-for-one basis. Subject to certain conditions, the OP Units are redeemable by the holder for an equivalent number of shares of common stock of the Company or for the cash value of such shares of common stock, at the Company's election. Costs associated with the OP LTIP Units issued under the Company's incentive plans are measured as of the grant date and expensed ratably over the vesting period. Total expense associated with OP LTIP Units issued under the Company's incentive plans is presented in Compensation and benefits, on the Statement of Operations. Total expense associated with OP LTIP Units issued under the Company's incentive plans for the years ended December 31, 2023, 2022, and 2021 was $1.3 million, $1.4 million, and $1.0 million.
On December 14, 2023, the Company's Board of Directors authorized the issuance of 39,673 and 30,628 OP LTIP Units to certain of Ellington's personnel dedicated to the Company and to certain of the Company's directors, respectively, pursuant to the Company's 2017 Equity Incentive Plan. These OP LTIP Units are subject to various vesting periods before becoming non-forfeitable.
The below table details unvested OP LTIP Units as of December 31, 2023:
Grant RecipientNumber of OP LTIP Units GrantedGrant Date
Vesting Date(1)
Directors:
30,628 December 14, 2023December 13, 2024
Dedicated or partially dedicated personnel:
14,708 December 15, 2022December 15, 2024
22,135 December 14, 2023December 14, 2024
17,538 December 14, 2023December 14, 2025
Total unvested OP LTIP Units at December 31, 202385,009 
(1)Date at which such OP LTIP Units will vest and become non-forfeitable.
The following tables summarize issuance and exercise activity of OP LTIP Units for the years ended December 31, 2023, 2022, and 2021:
Year Ended December 31,
202320222021
ManagerDirector/
Employee		TotalManagerDirector/
Employee		TotalManagerDirector/
Employee		Total
OP LTIP Units Outstanding
(December 31, 2022, 2021, and 2020, respectively)
365,518 404,055 769,573 365,518 310,295 675,813 365,518 247,020 612,538 
Granted— 70,301 70,301 — 97,826 97,826 — 68,985 68,985 
Exercised— (90,919)(90,919)— (4,066)(4,066)— (5,710)(5,710)
OP LTIP Units Outstanding (December 31, 2023, 2022, and 2021, respectively)365,518 383,437 748,955 365,518 404,055 769,573 365,518 310,295 675,813 
OP LTIP Units Unvested and Outstanding
(December 31, 2023, 2022, and 2021, respectively)		— 85,009 85,009 — 113,615 113,615 — 79,886 79,886 
OP LTIP Units Vested and Outstanding
(December 31, 2023, 2022, and 2021, respectively)		365,518 298,428 663,946 365,518 290,440 655,958 365,518 230,409 595,927 
There were an aggregate of 1,439,180 and 1,509,481 shares of common stock of the Company underlying awards, including OP LTIP Units, available for future issuance under the Company's 2017 Equity Incentive Plan as of December 31, 2023 and 2022, respectively.