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STOCK-BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2022
STOCK-BASED COMPENSATION |
STOCK-BASED COMPENSATION | 5. STOCK-BASED COMPENSATION The Company reserved 3,000,000 shares of common stock under the 2014 Stock Incentive Plan with a term of ten years expiring in April 2024. This plan provides for the issuance of various forms of stock incentives, including among others, incentive and non-qualified stock options and restricted shares. As of June 30, 2022, there were approximately 1,074,747 shares available for grant. Stock-based compensation for the three and six months ended June 30, 2022 and 2021 were as follows: Restricted Stock ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, | ​ | Six months ended June 30,
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Pre – tax cost | ​ | $ | 820 | ​ | $ | 571 | ​ | $ | 1,430 | ​ | $ | 1,124
After tax cost | ​ | ​ | 639 | ​ | ​ | 446 | ​ | ​ | 1,115 | ​ | ​ | 877
​ The following is a summary of the changes in non-vested restricted shares for the six months ended June 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Grant-Date
​ |  | Shares |  | Fair Value
Non-vested shares at December 31, 2021 |  | 671,370 | ​ | $ | 14.70
Granted |  | 311,703 | ​ |  | 11.61
Vested |  | (193,403) | ​ |  | 11.96
Forfeited |  | (4,700) | ​ |  | 14.54
Non-vested shares at June 30, 2022 |  | 784,970 | ​ | $ | 14.15
​ The total fair value of shares vested was approximately $2,241,000 during the six months ended June 30, 2022 and approximately $3,174,000 during the six months ended June 30, 2021. For the six months ended June 30, 2022, approximately $22,000 of excess tax benefit for stock-based compensation awards was recorded as a discrete tax adjustment and classified within Net cash provided by operating activities in the accompanying Consolidated Statements of Cash Flows compared to approximately $304,000 for the six months ended June 30, 2021.

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