Stock-Based Compensation

12 Months Ended

Dec. 31, 2022

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 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.