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Stock-Based Compensation
 6 Months Ended
Jun. 30, 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 April 1, 2019
 
 
550,934
 
 
$
6.92
 
Granted
 
 
129,000
 
 
 
3.27
 
Vested
 
 
(10,500
)
 
 
7.99
 
Forfeited
 
 
(22,500
)
 
 
9.11
 
Unvested as of June 30, 2019
 
 
646,934
 
 
$
6.10
 
 
 
A summary of restricted stock activity is presented below:
 
 
 
Shares
 
 
Weighted-

Average

Grant-Date

Fair Value
 
Unvested as of April 1, 2019
 
 
99,500
 
 
$
4.92
 
Granted
 
 
—
 
 
 
—
 
Vested
 
 
(2,000
)
 
 
7.00
 
Forfeited
 
 
—
 
 
 
—
 
Unvested as of June 30, 2019
 
 
97,500
 
 
$
4.88
 
 
As of June 30, 2019, there was $3.0 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.