Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED COMPENSATION

v3.19.1
SHARE BASED COMPENSATION
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
SHARE BASED COMPENSATION
SHARE-BASED COMPENSATION
Restricted Stock Awards. The number of shares and weighted average grant price of restricted stock awards during the three months ended March 31, 2019 were as follows:
 
Number of Shares
 
Weighted Average Grant Price
Non-vested as of December 31, 2018
513,766

 
$
10.28

Restricted stock awards granted:
 
 
 
Non-employee directors
34,488

 
$
10.35

Employees
361,056

 
$
10.35

Vested
(242,850
)
 
$
10.36

Forfeited

 
$

Non-vested as of March 31, 2019
666,460

 
$
10.29


The total fair value of shares vested during the three months ended March 31, 2019 and 2018, determined using the closing price on the grant date, was $2.5 million and $2.8 million, respectively.
Stock Options. The Company did not grant any stock options during the three months ended March 31, 2019.
Employee Stock Purchase Plan (“ESPP”). During the three months ended March 31, 2019, the Company issued 60,258 shares under the ESPP. As of March 31, 2019, 162,120 shares remain available for issuance under the ESPP.
Total share-based compensation expense, which includes stock options, restricted stock and the ESPP, was $0.8 million for each of the three months ended March 31, 2019 and 2018.