Annual report pursuant to Section 13 and 15(d)

EQUITY-BASED AWARDS (Tables)

v3.6.0.2
EQUITY-BASED AWARDS (Tables)
12 Months Ended
Dec. 31, 2016
LTIP units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of activity of shares
The following table presents the number of units vested and forfeited for acquisition grants during the years ended December 31, 2016, 2015 and 2014:
 
Total LTIP units
Total unvested units, December 31, 2013
1,262,070

Units vested upon issuance in 2014 related to:
 
Properties contributed or sourced by PROs
(379,970
)
Contributions by NSA Predecessor(1)
(359,200
)
Total unvested units, December 31, 2014
522,900

Units vested in 2015 related to properties contributed or sourced by PROs
(99,100
)
Total unvested units, December 31, 2015
423,800

Units vested in 2016 related to properties contributed or sourced by PROs
(45,100
)
Units forfeited
(118,300
)
Total unvested units, December 31, 2016(2)
260,400

 
 
(1) 
The contribution of self storage properties by NSA Predecessor was accounted for as a reorganization of entities under common control and, accordingly, no value was recognized in the Company's consolidated financial statements for these LTIP units.  
(2) 
As of December 31, 2016, the remaining unvested LTIP units will vest as additional self storage properties are contributed or sourced by the PROs. The fair value of such LTIP units will be recorded as additional acquisition consideration based on the fair value in the period such acquisitions are completed.
The following table summarizes activity for compensatory LTIP units for the years ended December 31, 2016, 2015 and 2014:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
Number of LTIP units
 
Weighted Average Grant-Date Fair Value
 
Number of LTIP units
 
Weighted Average Grant-Date Fair Value
 
Number of LTIP units
 
Weighted Average Grant-Date Fair Value
Outstanding unvested at beginning of year
236,265

 
$
10.41

 
509,166

 
$
10.07

 
287,600

 
$
9.28

Granted
177,546

 
17.59

 
6,000

 
13.00

 
378,550

 
10.37

Vested
(119,282
)
 
10.41

 
(278,901
)
 
9.84

 
(156,984
)
 
9.35

Unvested at end of year
294,529

 
$
14.74

 
236,265

 
$
10.41

 
509,166

 
$
10.07

Restricted Common Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
The following table summarizes activity for restricted common shares for the years ended December 31, 2016 and 2015:
 
Year Ended December 31,
 
2016
 
2015
 
Number of Restricted Common Shares
 
Weighted Average Grant-Date Fair Value
 
Number of Restricted Common Shares
 
Weighted Average Grant-Date Fair Value
Outstanding at beginning of year
11,000

 
$
12.40

 

 
$

Granted
8,090

 
17.19

 
17,210

 
12.40

Vested
(5,500
)
 
12.40

 
(6,000
)
 
12.40

Forfeited

 

 
(210
)
 
12.40

Unvested at end of year
13,590

 
$
12.40

 
11,000

 
$
12.40