12 .	STOCK INCENTIVE PLANS

Under the Company’s stock incentive plan, stock options, restricted stock, stock-settled stock appreciation rights, performance share units and other awards

may

be granted to officers, employees, consultants, and non-employee directors. Long-term incentive awards (“LTIP”) were granted to executive management annually through

2010.

2011

Incentive Award Plan

June 10, 2011,

Alaska Communications shareholders approved the

2011

Incentive Award Plan, which was amended and restated on

June 30, 2014

and

June 25, 2018,

and which terminates in

2021.

Following termination, all shares granted under this plan, prior to termination, will continue to vest under the terms of the grant when awarded. All remaining unencumbered shares of common stock previously allocated to the Prior Plans were transferred to the

2011

Incentive Award Plan. In addition, to the extent that any outstanding awards under the Prior Plans are forfeited or expire or such awards are settled in cash, such shares will again be available for future grants under the

2011

Incentive Award Plan. The Company grants Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) as the primary equity based incentive for executive and certain non union-represented employees. The disclosures below are primarily associated with RSU and PSU grants awarded in

2017

and

2018.

Restricted Stock Units

The Company measures the fair value of RSUs based on the number of shares granted and the quoted closing market price of the Company’s common stock on the date of grant. RSUs granted in

2018

vest ratably over

three

years.

In the

second

quarter of

2019,

RSU’s granted to the Company’s former Chief Executive Officer in

2017

and

2018

were modified. The vesting dates were accelerated from

2020

and

2021

June 2019,

and the awards were revalued. The modification resulted in a net increase in share-based compensation expense of

$112

in the

second

quarter. The modification is included in grants and cancellations in the table below.

The following table summarizes the RSU, LTIP and non-employee director stock compensation activity for the

six

-month period ended

June 30, 2019.

				Weighted
				Average
				Grant Date
	Number			Fair
	of Units			Value
Nonvested at December 31, 2018		1,185		$	1.88
Granted		171			1.65
Vested		(768	)		1.86
Canceled or expired		(208	)		1.96
Nonvested at June 30, 2019		380		$	1.78

Performance Stock Units

The PSUs granted in

2018

will vest in

three

equal installments, or tranches, if certain stock price thresholds and service thresholds are achieved.

The Company measured the fair value of the

2018

PSUs using a Monte Carlo simulation model. Share-based compensation expense subject to a market condition is recognized regardless of whether the market condition is satisfied, provided that the requisite service has been provided.

In the

second

quarter of

2019,

certain PSU’s granted to the Company’s former Chief Executive Officer in

2017

and

2018

were modified. The vesting dates were accelerated from

2019,

2020

and

2021

June 2019,

and the awards were revalued. The modification resulted in a net decrease in share-based compensation expense of

$165

in the

second

quarter. The modification is included in grants and cancellations in the table below.

The following table summarizes the PSU activity for the

six

-month period ended

June 30, 2019.

				Weighted
				Average
				Grant Date
	Number			Fair
	of Units			Value
Nonvested at December 31, 2018		2,070		$	0.85
Granted		779			0.28
Vested		-			-
Canceled or expired		(1,318	)		0.91
Nonvested at June 30, 2019		1,531		$	0.51

The following table provides selected information about the Company’s share-based compensation as of and for the

three

and

six

-month periods ended

June 30, 2019

and

2018:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2019			2018		2019		2018
Total compensation cost for share-based payments	$	(9	)	$	325	$	489	$	567
Weighted average grant-date fair value of equity instruments granted (per share)	$	0.53		$	1.75	$	0.53	$	1.76
Total fair value of shares vested during the period	$	436		$	-	$	1,427	$	1,524

At June 30:
Unamortized share-based payments						$	293	$	1,315
Weighted average period (in years) to be recognized as expense							0.9		1.3