Share-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

The company's outstanding share-based compensation is comprised solely of restricted stock awards.

Restricted Stock Awards – Restricted stock awards are a grant of shares of common stock that may not be sold, encumbered or disposed of and that may be forfeited in the event of certain terminations of employment or in the case of the board of directors a separation for cause, prior to the end of a restricted period set by the Compensation Committee of the Board of Directors. A participant granted restricted stock generally has all of the rights of a stockholder, unless the Compensation Committee determines otherwise.

The following table summarizes information about outstanding restricted stock grants as of September 30, 2020:


Grant	Shares Granted (in thousands)	Nonvested Shares (in thousands)	Vesting Schedule	Unearned Compensation		Remaining Period to Vesting (in months)
October 2017	303	51	3 equal annual installments commencing on October 20, 2018	$	40.3	1
October 2018	382	130	3 equal annual installments commencing on October 20, 2019	$	473.1	13
October 2019	12	10	3 equal annual installments commencing on October 20, 2020	$	51.5	25
January 2020	149	134	3 equal annual installments commencing on October 20, 2020	$	527.7	25
April 2020	646	520	3 equal annual installments commencing on December 31, 2022	$	947.7	27
June 2020	210	210	Fully vests as of December 12, 2021	$	432.8	14
June 2020	380	350	Fully vests as of June 12, 2022	$	772.9	20
June 2020	185	185	Fully vests on the sooner of June 15, 2021 or the 2021 Annual Meeting of Stockholders	$	310.6	8

We have elected to report forfeitures as they occur as opposed to estimating future forfeitures in our share-based compensation expense.

The following table summarizes information about the restricted stock grants for the nine months ended September 30, 2020 and 2019:


	Nine Months Ended September 30, 2019
	2020			2019
	Shares (in thousands)	Weighted- Average Grant-Date Fair Value		Shares (in thousands)	Weighted- Average Grant-Date Fair Value
Nonvested at beginning of the period	403	$	7.72	760	$	7.56
Granted	1,575	2.86		75	7.60
Vested	(184)	5.79		(68)	8.38
Forfeited	(204)	5.15		(21)	7.48
Nonvested at September 30	1,590	$	3.46	746	$	7.49