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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2019
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock Options: A summary of option activity under our 1998 Stock Option Plan as of December 31, 2018, and changes during the six months ended June 30, 2019 is presented below.
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2018 | 283,686 |  | $ | 20.46 |  | 3.58 |  | $ | 434
Exercised | (56,352) |  | 8.97 |  | — |  | 474
Canceled/Forfeited | (3,000) |  | 27.91 |  | — |  | —
Outstanding, June 30, 2019 | 224,334 |  | $ | 23.25 |  | 3.92 |  | $ | 14
Exercisable, June 30, 2019 | 213,901 |  | $ | 23.01 |  | 3.74 |  | $ | 14
The following table summarizes information about our stock options outstanding at June 30, 2019:
Range of Exercise Prices | Options Outstanding |  |  |  |  |  | Options Exercisable |  |
| Shares |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$0.01-15.70 | 8,500 |  | 2.57 |  | $ | 14.89 |  | 8,500 |  | $ | 14.89
$15.71-17.81 | 42,000 |  | 1.08 |  | 17.54 |  | 42,000 |  | 17.54
$17.82-20.48 | 50,500 |  | 1.84 |  | 19.43 |  | 50,500 |  | 19.43
$20.49-33.36 | 123,334 |  | 5.84 |  | 27.33 |  | 112,901 |  | 27.26
| 224,334 |  | 3.92 |  | $ | 23.25 |  | 213,901 |  | $ | 23.01
The summary of the status of our unvested stock options as of December 31, 2018 and changes during the six months ended June 30, 2019 is presented below.
Unvested stock options: | Shares |  | Weighted Average Grant Date Fair Value Per Share
Unvested at December 31, 2018 | 20,865 |  | $ | 11.93
Vested | (10,432) |  | 11.93
Unvested at June 30, 2019 | 10,433 |  | $ | 11.93
As of June 30, 2019, there was $75,243 of unrecognized compensation cost related to unvested options. Such cost is expected to be recognized over a weighted-average period of one year. Total compensation expense for stock options was $60,669 and $97,140 for the six months ended June 30, 2019 and 2018, respectively. Restricted Shares/Units: In accordance with the Company's employment agreement with Stephen Taylor, the Company's Chief Executive Officer, the Compensation Committee reviewed his performance in determining the issuance of restricted common stock. Based on this review which included consideration of the Company's 2018 performance, Mr. Taylor, was awarded 131,674 restricted shares/units on March 29, 2019, which vest over three years, in equal annual installments, beginning March 29, 2020. On March 29, 2019, the Compensation Committee awarded 20,000 restricted shares/units to each of G. Larry Lawrence, our CFO, and James Hazlett, our Vice President of Technical Services. The restricted shares to Messrs. Lawrence and Hazlett vest over three years, in equal annual installments, beginning March 29, 2020. We also awarded and issued 23,136 shares of restricted common stock to the independent members of our Board of Directors as partial payment for 2019 services as directors. The restricted stock issued to our directors vests over one year, in quarterly installments, beginning March 31, 2020. Total compensation expense related to restricted awards was $1.1 million and $978,432 for the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019, there was a total of $4.9 million of unrecognized compensation expense related to these shares/units which is expected to be recognized over the next three years.

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