Stock-Based Compensation

9 Months Ended

Sep. 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 July 1, 2020		589,334		$	4.27
Granted		15,000			1.52
Vested		—			—
Forfeited		(1,000	)		10.83

Unvested as of September 30, 2020		603,334		$	4.19

A summary of restricted stock activity is presented below:


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of July 1, 2020		27,000		$	5.00
Granted		—			—
Vested		(7,500	)		4.90
Forfeited		(2,000	)		7.00

Unvested as of September 30, 2020		17,500		$	4.81

As of September 30, 2020, there was $1.7 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 2.6 years.