Stock Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Note 10 - Stock Based Compensation

We adopted the 2009 Stock Incentive Plan as amended (the “Plan”) to attract, retain and reward directors and other persons who provide services to us in the course of operations. The Plan authorizes the Board to grant awards including common stock, restricted shares of common stock (“RSUs”), stock options, performance shares, performance units, stock appreciation rights and other equity and cash-based awards (collectively, “Awards”), subject to terms as provided in the Plan. At September 30, 2020, there were 677 shares available for future issuance under the Plan.

Transactions related to awards for the nine months ended September 30, 2020 are summarized below:


	September 30, 2020
	Number of Awards	Weighted Average Grant Date Fair Value per Award
Unvested RSU Awards Outstanding beginning of period	247	$	24.82
Granted ⁽¹⁾	502	$	17.85
Vested	(153)	$	20.52
Forfeited	(48)	$	23.14
Unvested RSU Awards Outstanding end of period	548	$	19.80

(1)During the nine months ended September 30, 2020, we granted 358 RSUs to ACM and 144 RSUs to the Board.

At September 30, 2020, there was approximately $10,848 of unvested stock based compensation related to the Awards (based on a weighted average grant date price of $19.80 per share), which we expect to recognize as an expense over the remaining average service period of 2.6 years. Our policy is to account for forfeitures as they occur. We also pay each of our non-executive Board members quarterly fees of $33, which is payable in cash, common stock, RSUs or a combination of common stock, RSUs and cash at the option of the director. Non-executive Board members had the option to participate in the Company's Non-Management Director Compensation and Deferral Program (the "Deferral Program"), beginning with their quarterly fees paid for services through March 31, 2020. The Deferral Program permits non-executive Board members to elect to receive either common stock or RSUs or a combination of common stock and RSUs at the option of the director, instead of all or part of their quarterly cash compensation.