The Company is authorized to issue two classes of capital stock: common stock, $0.01 par value per share (“Common Stock”) and preferred stock, $0.01 par value per share (“Preferred Stock”).

At March 31, 2021, 117,918,016 shares of Common Stock were issued and outstanding and no shares of Preferred Stock were issued or outstanding. At March 31, 2021, there were 82,081,984 shares of Common Stock available for issuance, including 866,726 shares available for issuance as stock-based incentive compensation under the Company’s long-term incentive plan (the “Plan”), and 10,000,000 shares of Preferred Stock available for issuance.

The Plan permits the granting of awards covering a total of 9,875,000 common units of the Company. A “unit” under the Plan is defined as a common unit of the Company and such other securities as may be substituted or resubstituted for common units of the Company, including but not limited to shares of the Company’s Common Stock. The Plan is intended to promote the interests of the Company by providing to employees, consultants and directors of the Company incentive compensation awards to encourage superior performance and enhance the Company’s ability to attract and retain the services of individuals who are essential for its growth and profitability and to encourage them to devote their best efforts to advancing the Company’s business.

During the three months ended March 31, 2021, the Company did not grant any stock options and no options were exercised, forfeited or expired.

For the three months ended March 31, 2021 and 2020, non-cash compensation expense related to stock options was $0.2 million. As of March 31, 2021, total unrecognized compensation cost related to unvested stock options was $1.4 million, which the Company expects to recognize over the remaining weighted-average period of 2.0 years.

A rollforward of restricted stock and phantom stock awards as of March 31, 2021 is as follows:

	Number of Restricted Stock and Phantom Stock Awards			Weighted Average Grant Date Fair Value ($)
Total non-vested at December 31, 2020		1,277,907		$	2.17
Granted		13,636			2.20
Vested		(46,875	)		3.88
Total non-vested at March 31, 2021		1,244,668		$	2.10

For the three months ended March 31, 2021 and 2020, the Company recognized $0.3 million and $0.2 million, respectively, of non-cash compensation expense related to restricted stock and phantom stock awards into earnings. As of March 31, 2021, total unamortized compensation cost related to unvested restricted stock awards was $2.1 million, which the Company expects to recognize over the remaining weighted-average period of 2.1 years.