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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
(9)
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 January 1, 2019
 
 
429,833
 
 
$
9.77
 
Granted
 
 
144,518
 
 
 
3.90
 
Vested
 
 
(18,417
)
 
 
10.13
 
Forfeited
 
 
(5,000
)
 
 
3.75
 
Unvested as of March 31, 2019
 
 
550,934
 
 
$
6.92
 
 
A summary of restricted stock activity is presented below:
 
 
 
Shares
 
 
Weighted-

Average

Grant-Date

Fair Value
 
Unvested as of January 1, 2019
 
 
101,500
 
 
$
6.42
 
Granted
 
 
—
 
 
 
—
 
Vested
 
 
(1,500
)
 
 
3.59
 
Forfeited
 
 
(500
)
 
 
3.75
 
Unvested as of March 31, 2019
 
 
99,500
 
 
$
4.92
 
 
As of March 31, 2019, there was $3.2 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.