Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

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

(15)	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		210,326			7.82
Vested		(155,256	)		10.62
Forfeited		(42,000	)		12.66

Unvested as of December 31, 2018		429,833			9.77
Granted		343,518			3.49
Vested		(201,300	)		9.03
Forfeited		(95,384	)		4.50

Unvested as of December 31, 2019		476,667		$	4.94

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
Vested		(30,700	)		5.49
Forfeited		(48,119	)		8.35

Unvested as of December 31, 2018		101,500			6.42
Vested		(54,000	)		5.11
Forfeited		(15,500	)		4.07

Unvested as of December 31, 2019		32,000		$	5.01

As of December 31, 2019, there was $1.9 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 2.7 years.