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STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2021

The following table details the Company’s dividend activity for the nine months ended September 30, 2021 and 2020 (amounts in thousands, except per share data):


		Total			Dividend Paid			Cash	Stock
Declaration Date (a)		Dividend	Payable Date	Record Date	Cash %	Stock %		Issued	Issued
March 12, 2021	$	9,329	April 7, 2021	March 24, 2021	100.0	n/a	$	9,329	n/a
June 10, 2021	$	9,330	July 9, 2021	June 25, 2021	100.0	n/a	$	9,330	n/a
September 14, 2021	$	9,398	October 7, 2021	September 27, 2021	100.0	n/a	$	9,398	n/a

March 13, 2020	$	9,037	April 7, 2020	March 24, 2020	100.0	n/a	$	9,037	n/a
June 10, 2020 (b)(c)	$	9,068	July 31, 2020	June 22, 2020	50.0	50.0	$	4,537	263
September 9, 2020 (b)(d)	$	9,198	October 29, 2020	September 21, 2020	75.0	25.0	$	6,901	141

(a)	A dividend of $0.45 per share was declared in each period indicated.

(b)	Stockholders were entitled to elect whether the dividend payable to them would be paid in cash or shares of the Company’s common stock at the percentages indicated, subject to certain limitations.

(c)	The shares of common stock issued were valued at approximately $17.22 per share.

(d)	The shares of common stock issued were valued at approximately $16.27 per share.

Schedule of equity incentive plans

The following is a summary of the activity of the equity incentive plans:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Restricted stock grants:
Number of shares		—		—		151,500		149,550
Average per share grant price	$	—	$	—	$	20.34	$	28.10
Deferred compensation to be recognized over vesting period	$	—	$	—	$	3,082,000	$	4,202,000

Number of non-vested shares:
Non-vested beginning of period		707,050		701,675		701,675		674,250
Grants		—		—		151,500		149,550
Vested during period		—		—		(145,725)		(122,125)
Forfeitures		(500)		—		(900)		—
Non-vested end of period		706,550		701,675		706,550		701,675

RSU grants:
Number of underlying shares		80,700		75,026		80,700		75,026
Average per share grant price	$	30.46	$	17.31	$	30.46	$	17.31
Deferred compensation to be recognized over vesting period	$	1,647,000	$	861,000	$	1,647,000	$	861,000

Number of non-vested shares:
Non-vested beginning of period		150,052		148,776		223,802		225,026
Grants		80,700		75,026		80,700		75,026
Vested during period		—		—		(73,750)		(24,343)
Forfeitures		—		—		—		(51,907)
Non-vested end of period		230,752		223,802		230,752		223,802

Restricted stock and RSU grants (based on grant price):
Weighted average per share value of non-vested shares	$	25.04	$	24.98	$	25.04	$	24.98
Value of stock vested during the period	$	—	$	—	$	5,165,000	$	3,589,000
Weighted average per share value of shares forfeited during the period	$	24.84	$	—	$	24.57	$	24.03

Total charge to operations:
Outstanding restricted stock grants	$	871,000	$	885,000	$	2,859,000	$	2,644,000
Outstanding RSUs		292,000		251,000		1,332,000		797,000
Total charge to operations	$	1,163,000	$	1,136,000	$	4,191,000	$	3,441,000