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

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.

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.