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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2013
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
(6) Stock-Based Compensation

The Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “2007 Plan”) permits the Company to issue up to 4.0 million shares of Class A common stock. The 2007 Plan allows for eligible employees, directors and certain consultants of the Company to receive shares of restricted stock, stock options or other stock-based awards. The restricted stock awards that have been granted under the 2007 Plan generally vest over one to five years of service.

A summary of restricted stock activity under the 2007 Plan is as follows:

 

                 
    Shares     Weighted-
Average
Grant-Date
Fair Value		  

Unvested as of January 1, 2013

     123,718     $ 3.86  

Granted

     80,000       6.11  

Vested

     (89,517 )      3.77  

Forfeited

     350       3.15  
   

 

 

          

Unvested as of March 31, 2013

     114,551     $ 5.78  
   

 

 

          

 

As of March 31, 2013, there was $0.5 million of total unrecognized compensation cost related to restricted stock granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 1.1 years.

The 2000 Equity Plan of Beasley Broadcast Group. Inc. (the “2000 Plan”) was terminated upon adoption of the 2007 Plan, except with respect to outstanding awards. The remaining stock options expire ten years from the date of grant. No new awards will be granted under the 2000 Plan.

A summary of stock option activity under the 2000 Plan is as follows:

 

                 
    Options     Weighted-
Average
Exercise
Price		  

Outstanding as of January 1, 2013

     178,084     $ 13.92  

Forfeited

     (7,000 )      10.13  
   

 

 

          

Outstanding and exercisable as of March 31, 2013

     171,084     $ 14.07  
   

 

 

          

As of March 31, 2013, the weighted-average remaining contractual term was 0.7 years and the aggregate intrinsic value was zero for stock options granted under the 2000 Plan.