Stock-Based Compensation

6 Months Ended

Jun. 30, 2020

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

(7)	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, 2020		636,834		$	4.39
Granted		—			—
Vested		(25,500	)		7.83
Forfeited		(22,000	)		3.72

Unvested as of June 30, 2020		589,334		$	4.27

A summary of restricted stock activity is presented below:


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of April 1, 2020		32,000		$	5.01
Granted		—			—
Vested		(2,000	)		7.00
Forfeited		(3,000	)		3.09

Unvested as of June 30, 2020		27,000		$	5.00

As of June 30, 2020, 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 2.9 years.