The Company’s 2019 Equity Incentive Plan and its predecessor equity plan provide for the grant of shares of restricted stock, restricted share units, stock options, stock appreciation rights, dividend or dividend equivalent rights, stock awards and other awards valued in whole or in part by reference to or otherwise based on the Company’s common stock, to officers, employees and directors of the Company.

The Company grants restricted shares of common stock and restricted stock units (“RSU”) in connection with a long-term incentive plan. Awards with time-based vesting requirements primarily vest ratably over a three-year period. Awards with performance-based vesting requirements cliff vest after a three-year performance cycle and only after the achievement of certain performance criteria over that cycle. The number of shares ultimately issued for the performance-based units may vary from 0% to 200% of their target amount based on the achievement of defined performance targets.

Compensation expense recognized for restricted stock and RSUs totaled $1,253 and $811, respectively, for the three months ended March 28, 2020, and March 30, 2019.

The following table summarizes restricted stock and RSU activity for the three months ended March 28, 2020:

	Number of			Weighted average
	shares / units			grant-date
	(in thousands)			fair value per share
Nonvested balance at December 28, 2019		203		$	42.73
Granted		112			38.88
Vested		(58	)		43.15
Forfeited		(24	)		43.33
Nonvested balance at March 28, 2020 ⁽¹⁾		233		$	41.55

The Company had $8,481 of total unrecognized compensation cost related to the restricted stock and RSU awards as of March 28, 2020. That cost is expected to be recognized over a weighted average period of 2.2 years.

During the first quarter of 2020, the Company granted 18,121 stock options to its officers. The exercise price of $39.75 per share is equal to the market price of Helios stock on the grant date. The options vest ratably over a three-year period and have a 10-year expiration. The weighted average grant date fair value of the options is $12.81 per share and was estimated using a Black Scholes valuation model. At March 28, 2020, the Company had $226 of unrecognized compensation cost related to the options which is expected to be recognized over a weighted average period of 2.9 years.

The Company maintains an Employee Stock Purchase Plan (“ESPP”) in which the U.S. employees of Helios, Sun Hydraulics and Enovation Controls are eligible to participate. Employees who choose to participate are granted an opportunity to purchase common stock at 85 percent of market value on the first or last day of the quarterly purchase period, whichever is lower. Employees in the United Kingdom (“UK”), under a separate plan, are granted an opportunity to purchase the Company’s common stock at market value, on the first or last day of the quarterly purchase period, whichever is lower, with the Company issuing one additional free share of common stock for each six shares purchased by the employee under the plan. Employees purchased 10,927 shares at a weighted average price of $32.46, and 14,387 shares at a weighted average price of $28.37, under the ESPP and UK plans during the three months ended March 28, 2020, and March 30, 2019, respectively. The Company recognized $60 and $255 of compensation expense during the three months ended March 28, 2020, and March 30, 2019, respectively.

The Company’s 2012 Nonemployee Director Fees Plan compensates nonemployee directors for their board service with shares of common stock. Directors were granted 5,500 and 5,875 shares for the three months ended March 28, 2020 and March 30, 2019, respectively. The Company recognized director stock compensation expense of $235 and $285 for the three months ended March 28, 2020 and March 30, 2019, respectively.