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Stock-Based Compensation
9 Months Ended
Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation

9. STOCK-BASED COMPENSATION

The Company recognized $0.5 million and $0.6 million in non-cash, stock-based compensation expense for the third quarter of 2019 and 2018, respectively, and $1.6 million and $1.8 million in non-cash, stock-based compensation expense for the nine-month periods ended September 30, 2019 and 2018, respectively.  During the first nine months of 2019, the Company granted an aggregate of 510,684 shares of restricted stock at a weighted average value of $2.37 per share under its 2005 Executive Incentive Compensation Plan, as amended and restated. Most restricted shares vest in three equal installments on the first, second and third anniversaries of the grant date, or cliff vest in five years. During the first nine months of 2019, the Company granted an aggregate of 90,000 shares of restricted stock under its Non-Employee Directors’ Restricted Stock Plan, as amended, at an average fair market value of $2.30 per share. The directors’ restricted shares vest on the first anniversary of the grant date. Unearned compensation expense is amortized into expense on a straight-line basis over the requisite service period for the entire award. As of September 30, 2019 and 2018, the total compensation expense not yet recognized related to all outstanding restricted stock awards was $2.6 million and $3.8 million, respectively.