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Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Shareholders' Equity

Summary of Restricted Stock Unit Activity

Outstanding restricted stock units (“RSUs”) are settled in an equal number of shares of common stock on the vesting date of the award. An RSU award is settled only to the extent vested. Vesting generally requires the continued employment or service by the award recipient through the respective vesting date. Because RSUs are settled in an equal number of shares of common stock without any offsetting payment by the recipient, the measurement of cost is based on the quoted market price of the stock at the measurement date, which is the grant date. For the three months ended March 31, 2020 and 2019, the Company granted the following awards:

Three months ended		RSUs Granted				Weighted averge grant date fair value per RSU				Vesting terms
March 31, 2020			153,000			$	2.43			12.5% every three months from grant date over two years

March 31, 2019			47,000			$	3.72			16.67% on six month anniversary of grant date, then equal monthly installments over following 30 months

Schedule of Restricted Stock and Common Stock Unit Vested

The following table shows the number of RSUs that vested and were settled during the three months ended March 31, 2020 and 2019, as well as the number of shares of common stock issued upon settlement. In lieu of paying cash to satisfy withholding taxes due upon the settlement of vested RSUs, an employee may elect to have shares of common stock withheld that would otherwise be issued at settlement, the value of which is equal to the amount of withholding taxes payable.

		Three months ended March 31,
		2020				2019
Restricted stock units vested and settled			4,000				4,000
Common stock issued, net of shares withheld			3,000				3,000