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Share Based Compensation | 6 Months Ended
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Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share Based Compensation | 14. Share Based Compensation Omnibus Incentive Plan At the 2019 Annual Shareholders Meeting of Thunder Bridge, the shareholders considered and approved the 2019 Omnibus Incentive Plan (the “2019 Equity Incentive Plan”) which resulted in the reservation of 7,326,728 shares of common stock for issuance thereunder. The 2019 Equity Incentive Plan became effective immediately upon the closing of the Business Combination. Under this plan, the Company currently has two types of share-based compensation awards outstanding: restricted stock awards (“RSAs”) and restricted stock units (“RSUs”). Activity for the six months ended June 30, 2020 was as follows:
|  | Class A Common Stock |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2019 |  |  | 1,818,675 |  |  | $ | 12.39 |
Granted |  |  | 1,096,784 |  |  |  | 17.09 |
Forfeited |  |  | 16,187 |  |  |  | 15.31 |
Vested |  |  | — |  |  |  | — |
Unvested at June 30, 2020 |  |  | 2,899,272 |  |  | $ | 13.99 |
(1) | The forfeited shares relate to employee terminations during the six months ended June 30, 2020; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan.
Unrecognized compensation expense related to unvested RSAs and RSUs was $29.1 million at June 30, 2020, which is expected to be recognized as expense over the weighted-average period of 3.02 years. The Company incurred $5.5 million and $9.0 million of share-based compensation expense for the three and six months ended June 30, 2020, respectively. Original Equity Incentives A summary of the changes in non-vested profit interest units outstanding for the period for the six months ended June 30, 2019 is presented below:
|  | Units |  |  | Weighted average fair value per unit |
Non-vested units at January 1, 2019 |  |  | 9,460 |  |  | $ | 182.83 |
Activity during the period: |  |  |  |  |  |  |  |
Granted |  | - |  |  |  |  |
Vested |  |  | (289 | ) |  |  | (245.02 | )
Non-vested units at June 30, 2019 |  |  | 9,171 |  |  | $ | 180.87 |
The estimated fair value of the Predecessor’s profit interest units that vested during the three and six months ended June 30, 2019, was $62,063 and $70,959, respectively. During the same periods the Predecessor incurred $0.1 million and $0.2 million of share-based compensation expense, respectively, included in selling, general and administrative costs in the unaudited interim consolidated statement of operations.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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