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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2021
SHARE-BASED COMPENSATION |
SHARE-BASED COMPENSATION | ​ ​ NOTE L – SHARE-BASED COMPENSATION ​ Stock Awards ​ The Company had outstanding RSUs granted under the ArcBest Corporation Ownership Incentive Plan (the “Ownership Incentive Plan”) as of December 31, 2021 and 2020. The Ownership Incentive Plan provides for the granting of 4.9 million shares, which may be awarded as incentive and nonqualified stock options, stock appreciation rights, restricted stock, RSUs, or performance award units. ​ Restricted Stock Units ​ A summary of the Company’s RSU award program is presented below: ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-Average | ​
​ |  | ​ | ​ | Grant Date | ​
​ | ​ | Units | ​ | Fair Value |
Outstanding – January 1, 2021 | ​ | 1,841,150 | ​ | $ | 22.09 | ​
Granted | ​ | 136,295 | ​ | $ | 86.96 | ​
Vested | ​ | (442,690) | ​ | $ | 17.18 | ​
Forfeited(1) | ​ | (52,356) | ​ | $ | 29.59 | ​
Outstanding – December 31, 2021 | ​ | 1,482,399 | ​ | $ | 29.25 | ​
(1) | Forfeitures are recognized as they occur.
​ The Compensation Committee of the Company’s Board of Directors granted RSUs during the years ended December 31 as follows: ​ k
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-Average |
​ | ​ | ​ | ​ | Grant Date |
​ |  | Units |  | Fair Value |
2021 |  | 136,295 | ​ | $ | 86.96 | ​
2020 |  | 579,660 | ​ | $ | 19.22 | ​
2019 |  | 386,840 | ​ | $ | 27.75 | ​
​ The fair value of restricted stock awards that vested in 2021, 2020, and 2019 was $36.4 million, $7.8 million, and $4.9 million, respectively. Unrecognized compensation cost related to restricted stock awards outstanding as of December 31, 2021 was $16.9 million, which is expected to be recognized over a weighted-average period of approximately 1.4 years.

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