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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Company has granted restricted stock to employees and directors pursuant to the Continental Resources, Inc. 2013 Long-Term Incentive Plan, as amended (“2013 Plan”). The Company’s associated compensation expense, which is included in the caption “General and administrative expenses” in the consolidated statements of comprehensive income, was $52.0 million, $47.2 million, and $45.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.
On March 26, 2019, the Company amended and restated its 2013 Plan and reserved 12,983,543 shares of common stock that may be issued pursuant to the amended plan. The 2013 Plan allows previously issued shares to be reissued if such shares are subsequently forfeited after issuance. As of December 31, 2019, the Company had 13,036,804 shares of common stock available for long-term incentive awards to employees and directors under the 2013 Plan.
Restricted stock is awarded in the name of the recipient and constitutes issued and outstanding shares of the Company’s common stock for all corporate purposes during the period of restriction and, except as otherwise provided under the 2013 Plan or agreement relevant to a given award, includes the right to vote the restricted stock and to receive dividends under the Company's dividend payment program discussed in Note 14. Shareholders' Equity Attributable to Continental Resources, subject to forfeiture. Restricted stock grants generally vest over periods ranging from 1 to 3 years.
A summary of changes in non-vested restricted shares from December 31, 2016 to December 31, 2019 is presented below.
 
 
Number of
non-vested
shares
 
Weighted
average
grant-date
fair value
Non-vested restricted shares at December 31, 2016
 
3,913,634

 
$
37.12

Granted
 
1,585,870

 
44.58

Vested
 
(874,665
)
 
57.36

Forfeited
 
(598,729
)
 
37.34

Non-vested restricted shares at December 31, 2017
 
4,026,110

 
$
35.63

Granted
 
1,390,914

 
52.71

Vested
 
(1,116,329
)
 
46.19

Forfeited
 
(278,286
)
 
38.06

Non-vested restricted shares at December 31, 2018
 
4,022,409

 
$
38.44

Granted
 
1,526,825

 
43.21

Vested
 
(1,737,304
)
 
24.19

Forfeited
 
(350,022
)
 
47.13

Non-vested restricted shares at December 31, 2019
 
3,461,908

 
$
46.82


The grant date fair value of restricted stock represents the closing market price of the Company’s common stock on the date of grant. Compensation expense for a restricted stock grant is determined at the grant date fair value and is recognized over the vesting period as services are rendered by employees and directors. The Company estimates the number of forfeitures expected to occur in determining the amount of stock-based compensation expense to recognize. There are no post-vesting restrictions related to the Company’s restricted stock. The fair value at the vesting date of restricted stock that vested during 2019, 2018, and 2017 was approximately $79.7 million, $61.0 million, and $39.8 million, respectively. As of December 31, 2019, there was approximately $66 million of unrecognized compensation expense related to non-vested restricted stock. This expense is expected to be recognized over a weighted average period of 1.2 years.