Under the Company’s Employee and Director Restricted Share Plan (“RSP”), restricted shares generally vest over a one to three year vesting period from the date of the grant, subject to the specific terms of the grant. In accordance with the RSP, restricted shares and restricted share units are issued to non-employee directors as compensation. Each restricted share and restricted share unit entitles the holder to receive one common share when it vests. Restricted shares are included in common stock outstanding on the date of vesting. Restricted share units are included in common stock outstanding on the date they are transferred to the non-employee director or their beneficiary. The grant-date value of the restricted shares and restricted share units is amortized over the vesting period representing the requisite service period. Compensation expense associated with the restricted shares issued to the non-employee directors was $22 and $44, in the aggregate, for the three and six months ended June 30, 2023, respectively. As of June 30, 2023, the Company had $75 of unrecognized compensation expense related to the unvested restricted shares, in the aggregate. The weighted average remaining period that compensation expense related to unvested restricted shares will be recognized is 1.47 years. The total fair value at the vesting date for restricted shares that vested during both the three and six months ended June 30, 2023 was $29. The total fair value at the vesting date for restricted shares and restricted share units that vested during both the three and six months ended June 30, 2022 was $47. As of December 31, 2022, there were no remaining unvested restricted share units and the Company has only been granting restricted shares to non-employee directors in recent years.

A summary table of the status of the restricted shares is presented below:


	Restricted Shares
Outstanding at December 31, 2022		9,172
Granted		—
Vested		(1,469	)
Outstanding at June 30, 2023		7,703