STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Activity of Non-vested Restricted Stock and RSU Awards

A summary of the activity for non-vested restricted stock and RSU awards as of June 30, 2019 and 2018 is presented below:

	Shares			Grant Fair Value
Balance, December 31, 2018		657,717		$	7.39
Granted		28,191			5.64
Forfeited		(5,319	)		5.64
Vested		(1,408	)		7.72
Balance, June 30, 2019		679,181		$	7.39

Balance, December 31, 2017		36,803		$	7.93
Granted		-			-
Vested		(16,648	)		8.22
Balance, June 30, 2018		20,155		$	7.93

Non-vested, Service-based Restricted Stock and RSU Awards

As of June 30, 2019, there was unrecognized compensation cost related to non-vested, service-based restricted stock and RSU awards of $3.2 million which will be recognized in each of the following years:

Unrecognized Expense
2019	$	404,977
2020		777,537
2021		758,325
2022		721,284
2023		509,910
	$	3,172,033