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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
(13)
  
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, 2017
 
 
—
 
 
 
—
 
Granted
 
 
561,555
 
 
$
10.75
 
Vested
 
 
(129,792
)
 
 
10.55
 
Forfeited
 
 
(15,000
)
 
 
9.35
 
Unvested as of December 31, 2017
 
 
416,763
 
 
$
10.86
 
Granted
 
 
210,326
 
 
 
7.82
 
Vested
 
 
(155,256
)
 
 
10.62
 
Forfeited
 
 
(42,000
)
 
 
12.66
 
Unvested as of December 31, 2018
 
 
429,833
 
 
$
9.77
 
 
A summary of restricted stock activity is presented below:

 
 
 
Shares
 
 
Weighted-

Average

Grant-Date

Fair Value
 
Unvested as of January 1, 2017
 
 
343,513
 
 
$
4.70
 
Granted
 
 
2,000
 
 
 
3.59
 
Vested
 
 
(143,611
)
 
 
4.16
 
Forfeited
 
 
(21,583
)
 
 
6.45
 
Unvested as of December 31, 2017
 
 
180,319
 
 
 
5.47
 
Vested
 
 
(30,700
)
 
 
5.49
 
Forfeited
 
 
(48,119
)
 
 
8.35
 
Unvested as of December 31, 2018
 
 
101,500
 
 
$
6.42
 
 
As of December 31, 2018, there was $3.4 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 2.4 years.