Stock-Based Compensation

3 Months Ended

Mar. 31, 2021

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

(6)	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, 2021		453,501		$	4.11
Granted		135,039			2.72
Vested		(173,372	)		2.82
Forfeited		—			—

Unvested as of March 31, 2021		415,168		$	3.79

A summary of restricted stock activity is presented below:


	Shares		Weighted- Average Grant- Date Fair Value
Unvested as of January 1, 2021		12,500	$	4.84
Vested		—		—
Forfeited		—		—

Unvested as of March 31, 2021		12,500	$	4.84

As of March 31, 2021, there was $1.1 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 2.5 years.