Incentive Plan

Under the Company's 2014 Incentive Plan, as amended, awards may be made in the form of restricted stock, cash or a combination of both. Compensation expense recognized from the amortization of the value of the Company's officer, employee and director shares over the applicable vesting periods during the three months ended March 31, 2019 and 2018 was approximately $0.9 million and $0.6 million, respectively.

A summary of the activity under the 2014 Incentive Plan for the three months ended March 31, 2019 and 2018 is included in the table below.



		Three Months Ended March 31,
		2019	2018
Stock-based awards, beginning of period		709,487	512,115
	Stock in lieu of compensation	42,525	47,027
	Stock awards	42,165	46,974
	Total stock granted	84,690	94,001
	Vested shares	—	—
Stock-based awards, end of period		794,177	606,116