Grantee Type | Number of non-vested share awards granted | Vesting conditions | Contractual life of non-vested share awards | |||
Restricted Share Units | ||||||
Directors | 29,375 | 1 year service from date of grant, annually | 10 years | |||
Executives | 95,957 | 4 years’ service from the date of grant, quarterly | 10 years | |||
Restricted Share Awards | 4,023 | 2.75 years’ service from date of grant, quarterly | 10 years |
Number of non-vested shares | Weighted average grant date fair value | |||||||
Non-vested at January 1, 2017 | - | - | ||||||
Forfeited during the year | - | - | ||||||
Cancelled during the year | - | - | ||||||
Exercised during the year | - | - | ||||||
Granted during the year | 129,355 | 9.62 | ||||||
Non-vested at December 31, 2017 | 122,014 | 9.59 | ||||||
Vested at December 31, 2017 | 7,341 | 10.06 |