Stock-Based Compensation

9 Months Ended

Sep. 30, 2018

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

(8)

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:


	Restricted Stock Units			Weighted- Average Grant-Date Fair Value
Unvested as of July 1, 2018		499,335		$	10.57
Granted		48,444			6.66
Vested		1,143			12.27
Forfeited		(4,500	)		10.65

Unvested as of September 30, 2018		544,422		$	9.57

A summary of restricted stock activity is presented below:


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of July 1, 2018		156,786		$	6.54
Granted		—			—
Vested		(7,500	)		4.90
Forfeited		(24,286	)		5.51

Unvested as of September 30, 2018		125,000		$	6.85

As of September 30, 2018, there was $4.8 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 2.1 years.