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Compensation Plans | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Compensation Plans | Compensation Plans Share-Based Payment Transactions The Company issues restricted stock awards under the 2014 Equity and Cash Incentive Plan (the "2014 Plan"). Restricted stock awards represent common shares issued and outstanding upon grant subject to vesting restrictions. The following table represents a roll-forward of outstanding restricted stock and related activity during the nine months ended September 30, 2020:
| Shares |  | Weighted-Average Grant Date Price per Share
Outstanding restricted stock as of December 31, 2019 | 227,844 |  |  | $ | 175.49 |
Grants issued | 18,749 |  |  | 109.25 |
Grants vested | (41,700) |  |  | 155.40 |
Grants forfeited | (15,325) |  |  | 186.02 |
Total outstanding restricted stock as of September 30, 2020 | 189,568 |  |  | $ | 174.82 |
As of September 30, 2020, 222,753 common shares remained available for awards under the 2014 Plan. Total deferred equity compensation related to unvested restricted stock was $15.7 million as of September 30, 2020. Compensation expense related to restricted stock is calculated based upon the fair market value of the common shares on the applicable grant date. The Company's policy is to adjust compensation expense for forfeitures as they occur. The recognition of compensation expense related to deferred compensation over the remaining vesting periods is as follows:
Three Months Remaining In |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Total
$ | 1,464,321 |  |  | $ | 5,242,920 |  |  | $ | 4,282,359 |  |  | $ | 2,309,526 |  |  | $ | 1,211,071 |  |  | $ | 1,225,389 |  |  | $ | 15,735,586 |
Stock Grant Transactions The following table represents common shares issued as part of the Company's incentive compensation program during the nine-month period ended September 30, 2020, and 2019:
| Shares Issued |  | Grant Date Value
September 30, 2020 | 23,640 |  |  | $ | 3,396,359 |
September 30, 2019 | 24,048 |  |  | $ | 3,655,296 |
Deferred Compensation Plans The Company offers two deferred compensation plans, the Diamond Hill Fixed Term Deferred Compensation Plan and the Diamond Hill Variable Term Deferred Compensation Plan (collectively, the “Plans”). Under the Plans, participants may elect to voluntarily defer, for a minimum of five years, certain incentive compensation,that the Company then contributes into the Plans. Participants are responsible for designating investment options for the assets they contribute, and the distribution paid to each participant reflects any gains or losses on the assets realized in connection with the Plans. Assets held in the Plans are included in the Company’s investment portfolio, and the associated obligation to participants is included in deferred compensation liability. Deferred compensation liability was $28.7 million and $30.3 million as of September 30, 2020 and December 31, 2019, respectively.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: 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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