5.STOCK COMPENSATION

We have three stock based compensation plans as described below.

2005 Restricted Stock Grant Plan

On May 10, 2005, the Company’s stockholders approved a restricted stock grant plan. Total shares issuable under the plan were 100,000. There were no shares issued during 2020 or 2019. The plan is now expired and no additional shares will be issued from the 2005 plan. There were 0 shares forfeited during the three months ended March 31, 2020 and 12 shares were forfeited during the three months ended March 31, 2019.

A summary of changes in the Company’s nonvested shares for the year follows (in thousands, except per share data):


			Grant-Date
	Shares		Fair Value
Nonvested at January 1, 2020	1,580	$	13.67
Vested	(1,580)		13.67
Nonvested at March 31, 2020	—	$	—

As of March 31, 2020, there was no unrecognized compensation cost related to nonvested shares granted under the 2005 Restricted Stock Grant due to their being no nonvested shares outstanding.

2009 Stock Award Plan

On May 13, 2009, the Company’s stockholders approved a stock award plan that provides for the granting of both incentive and nonqualified stock options and other share based awards. Total shares issuable under the plan were 300,000. There were 0 shares issued during the three months ended March 31, 2020 and 23,380 shares were issued during the three months ended March 31, 2019. The plan is now expired and no additional shares will be issued from the 2009 plan. There were 0 shares forfeited during the three months ended March 31, 2020 and 108 shares were forfeited during the three months ended March 31, 2019.

A summary of changes in the Company’s nonvested shares for the year follows (in thousands, except per share data):



			Weighted-Average
			Grant-Date
	Shares		Fair Value
Nonvested at January 1, 2020	38,482	$	21.46
Vested	(12,855)		20.98
Nonvested at March 31, 2020	25,627	$	21.70

2019 Stock Award Plan

On May 21, 2019, the Company’s stockholders approved a stock award plan that provides for the granting of both incentive and nonqualified stock options and other share based awards. Total shares issuable under the plan are 300,000. There were 30,030 shares issued during the three months ended March 31, 2020 and 0 shares were issued during the three months ended March 31, 2019. There were 0 shares forfeited during both the three months ended March 31, 2020 and March 31, 2019.


		Weighted-Average
		Grant-Date
Nonvested Shares	Shares	Fair Value
Nonvested at January 1, 2020	—	$	—
Granted	30,030		23.11
Nonvested at March 31, 2020	30,030	$	23.11