Stock-Based Compensation

9 Months Ended

Sep. 30, 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 July 1, 2021		677,052	$	3.30
Granted		—		—
Vested		—		—
Forfeited		—		—

Unvested as of September 30, 2021		677,052	$	3.30


	Shares			Weighted- Average Grant-Date Fair Value
Unvested as of July 1, 2021		12,500		$	4.84
Vested		(7,500	)		4.90
Forfeited		—			—

Unvested as of September 30, 2021		5,000		$	4.75

As of September 30, 2021, there was $1.3 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 1.9 years.