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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2015
Stock-Based Compensation [Abstract]  
Stock Based Compensation
Stock-Based Compensation

In July 2011, a Special Meeting of Stockholders of Heartland Express, Inc. was held, at which meeting the approval of the Heartland Express, Inc. 2011 Restricted Stock Award Plan (the “Plan”) was ratified. The Plan is administered by the Compensation Committee of our Board of Directors. Per the terms of the awards, employees receiving awards will have all of the rights of a stockholder with respect to the unvested restricted shares including, but not limited to, the right to receive such cash dividends, if any, as may be declared on such shares from time to time and the right to vote such shares at any meeting of our stockholders.

The Plan made available up to 0.9 million shares for the purpose of making restricted stock grants to our eligible officers and employees. During December 2011, 0.4 million shares were granted to employees and no additional shares were granted during 2012. The shares granted in 2013 through 2015 have various vesting terms that range from immediate to four years from the date of grant. Once vested, there are no other restrictions on the awards. Compensation expense associated with these awards is based on the market value of our stock on the grant date. Our market closing price on December 14, 2011, grant date, was $13.57 and ranged between $13.86 and $18.18 on the various grant dates for the shares issued in 2013. The Company's market close price ranged between $21.72 and $27.47 on the various grant dates during 2014 and ranged between $19.93 and $27.29 on the various grant dates during 2015. There were no significant assumptions made in determining the fair value. Compensation expense associated with restricted stock awards is included in salaries, wages and benefits in the consolidated statements of comprehensive income. Compensation expense associated with restricted stock awards was $1.2 million, $1.1 million, and $1.2 million for the years ended December 31, 2015, 2014, and 2013, respectively. Unrecognized compensation expense was $0.5 million at December 31, 2015 which will be recognized over a weighted average period of 1.3 years.

The following table summarizes our restricted stock award activity for the years ended December 31, 2015, 2014 and 2013. The vesting date for the majority of awards vested in 2015 was June 1, 2015. The fair value of awards vested during 2015, 2014 and 2013 was $1.6 million, $1.1 million and $1.1 million, respectively.
 
2015
 
Number of Shares of Restricted Stock Awards (in thousands)
 
Weighted Average Grant Date Fair Value
Unvested at beginning of year
183.1

 
$
16.78

Granted
17.9

 
20.92

Vested
(98.6
)
 
16.49

Forfeited
—

 
—

Outstanding (unvested) at end of year
102.4

 
$
18.36


 
2014
 
Number of Shares of Restricted Stock Awards (in thousands)
 
Weighted Average Grant Date Fair Value
Unvested at beginning of year
211.5

 
$
13.81

Granted
52.2

 
25.40

Vested
(75.6
)
 
14.34

Forfeited
(5.0
)
 
13.57

Outstanding (unvested) at end of year
183.1

 
$
16.78


 
2013
 
Number of Shares of Restricted Stock Awards (in thousands)
 
Weighted Average Grant Date Fair Value
Unvested at beginning of year
276.8

 
$
13.57

Granted
23.0

 
17.28

Vested
(75.3
)
 
14.04

Forfeited
(13.0
)
 
13.57

Outstanding (unvested) at end of year
211.5

 
$
13.81