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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation |
(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 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 |  |  | 925,271 |  |  |  | 2.34 |
Vested |  |  | (318,547 | ) |  |  | 3.12 |
Forfeited |  |  | (119,391 | ) |  |  | 2.16 |
Unvested as of December 31, 2021 |  |  | 940,834 |  |  |  | 2.77 |
Granted |  |  | 778,857 |  |  |  | 1.35 |
Vested |  |  | (513,915 | ) |  |  | 2.51 |
Forfeited |  |  | (120,958 | ) |  |  | 2.32 |
Unvested as of December 31, 2022 |  |  | 1,084,818 |  |  | $ | 1.87 |
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 |  |  | (12,500 | ) |  |  | 4.84 |
Unvested as of December 31, 2021 |  |  | — |  |  | $ | — |
As of December 31, 2022, there was $1.4 million of total unrecognized compensation cost for restricted stock units granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 2.5 years.

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