Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

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:


	Units			Weighted-Average Grant-Date Fair Value
Unvested as of January 1, 2019		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
Granted		206,750			2.99
Vested		(130,333	)		5.48
Forfeited		(99,583	)		3.22

Unvested as of December 31, 2020		453,501		$	4.11

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
Vested		(54,000	)		5.11
Forfeited		(15,500	)		4.07

Unvested as of December 31, 2019		32,000			5.01
Vested		(14,500	)		5.14
Forfeited		(5,000	)		4.65

Unvested as of December 31, 2020		12,500		$	4.84

As of December 31, 2020, there was $1.2 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 2.8 years.