Stock-Based Compensation

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

(7)

Stock-Based Compensation

The Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “2007 Plan”) permits the Company to issue up to 7.5 million shares of Class A common stock. The 2007 Plan allows for eligible employees, directors and certain consultants of the Company to receive restricted stock units, shares of restricted stock, stock options or other stock-based awards. The restricted stock units and 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 unit activity is presented below:


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of January 1, 2018		416,763		$	10.86
Granted		22,239			10.05
Vested		(5,000	)		10.25
Forfeited		—			—

Unvested as of March 31, 2018		434,002		$	11.30

A summary of restricted stock activity is presented below:


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of January 1, 2018		180,319		$	5.47
Granted		—			—
Vested		(1,500	)		3.59
Forfeited		(13,333	)		9.55

Unvested as of March 31, 2018		165,486		$	6.58

As of March 31, 2018, there was $5.4 million of total unrecognized compensation cost for restricted stock units and shares of restricted stock granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 2.3 years.