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STOCK BASED AND OTHER COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock based compensation plans summary
The following table summarizes the impact on the consolidated statement of operations of the various stock based compensation plans described in this note ($ in thousands):

 
Year Ended December 31,
 
2018
 
2017
 
2016
 
 
 
 
 
 
Stock Based Compensation Expense:
 
 
 
 
 
Annual Incentive Awards Granted in 2015 with Respect to 2014 Performance
$
172

 
$
1,876

 
$
4,838

Annual Incentive Awards Granted in 2016 with Respect to 2015 Performance
1,294

 
2,094

 
6,690

Annual Incentive Awards Granted in 2017 with Respect to 2016 Performance(1)
2,178

 
7,289

 
—

Other 2017 Restricted Stock Awards(1)
334

 
302

 
—

Annual Incentive Awards Granted in 2017 with Respect to 2017 Performance(1)
4,448

 
6,768

 
—

2018 Restricted Stock Awards
324

 
—

 
—

Other 2018 Restricted Stock Awards(1)
23

 
—

 
—

Other Employee/Director Awards
58

 
636

 
6,112

Total Stock Based Compensation Expense
$
8,831

 
$
18,965

 
$
17,640

 
 
 
 
 
 
Phantom Equity Investment Plan
$
—

 
$
510

 
$
689

Ladder Capital Corp Deferred Compensation Plan
$
1,163

 
$
568

 
$
710

Bonus Expense
$
34,465

 
$
33,747

 
$
29,224

 
(1)
Includes immediate vesting of retirement eligible employees, including Brian Harris, our Chief Executive Officer.
Summary of the grants
A summary of the grants is presented below ($ in thousands):
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
Number
of Shares/Options
 
Weighted
Average
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
Grants - Class A Common Stock (restricted)
33,656

 
$
500

 
1,996,594

 
$
27,489

 
793,598

 
$
9,118

Grants - Class A Common Stock (restricted) dividends
—

 
—

 
15,560

 
216

 
166,934

 
1,908

Stock Options
—

 
—

 
—

 
—

 
380,949

 
1,356

 
 

 
 

 
 

 
 

 
 

 
 

Amortization to compensation expense
 
 
 
 
 
 
 
 
 
 
 
Ladder compensation expense
 

 
$
(8,831
)
 
 

 
$
(18,965
)
 
 

 
(17,640
)
Total amortization to compensation expense
 

 
$
(8,831
)
 
 

 
$
(18,965
)
 
 

 
$
(17,640
)
Schedule of nonvested shares activity
The table below presents the number of unvested shares and outstanding stock options at December 31, 2018 and changes during 2018 of the Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
 
 
 
Nonvested/Outstanding at December 31, 2017
1,252,365

 
982,135

Granted
33,656

 
—

Exercised
 
 
—

Vested
(141,766
)
 
 
Forfeited
(26,061
)
 
—

Expired
 
 
—

Nonvested/Outstanding at December 31, 2018
1,118,194

 
982,135

 
 
 
 
Exercisable at December 31, 2018
 
 
929,701

The table below presents the number of unvested shares and outstanding stock options at December 31, 2017 and changes during 2017 of the Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
 
 
 
Nonvested/Outstanding at December 31, 2016
1,475,865

 
982,135

Granted
2,012,154

 
—

Exercised
 
 
—

Vested
(2,225,654
)
 
 
Forfeited
(10,000
)
 
—

Expired
 
 
—

Nonvested/Outstanding at December 31, 2017
1,252,365

 
982,135

 
 
 
 
Exercisable at December 31, 2017
 
 
752,017

 
As of December 31, 2017 there was $14.5 million of total unrecognized compensation cost related to certain share-based compensation awards that is expected to be recognized over a period of up to 38 months, with a weighted-average remaining vesting period of 27.9 months.

The table below presents the number of unvested shares and outstanding stock options at December 31, 2016 and changes during 2016 of the Class A Common stock and Stock Options of Ladder Capital Corp granted under the 2014 Omnibus Incentive Plan:

 
Restricted Stock
 
Stock Options
 
LP Units(1)
 
 
 
 
 
 
Nonvested/Outstanding at December 31, 2015
1,334,369

 
601,186

 
504

Granted
960,531

 
380,949

 
—

Exercised
 
 
—

 
 
Vested
(770,568
)
 
 
 
(504
)
Forfeited
(48,467
)
 
—

 
—

Expired
 
 
—

 
 
Nonvested/Outstanding at December 31, 2016
1,475,865

 
982,135

 
—

 
 
 
 
 
 
Exercisable at December 31, 2016
 
 
230,936

 
 
 
(1)
Converted to LP Units of LCFH on February 11, 2014 in connection with IPO. LCFH LP Unitholders also received an equal number of shares of Class B Common stock of the Company at IPO. The LP Units converted to an equal number of Series REIT LP Units and Series TRS LP Units on December 31, 2014 in connection with the Company’s conversion to a REIT.