NOTE 5—EQUITY

As of June 30, 2019, we had 40,942,581 shares of common stock outstanding.

Stock-Based Compensation

We have a stock-based compensation plan under which stock options, restricted stock, performance shares and other stock-based awards may be granted. At June 30, 2019, 5.1 million shares were available under the current plan for future awards.

Total compensation costs recognized for all stock-based compensation was $1.1 million and $0.7 million for the three months ended June 30, 2019 and 2018, respectively.

Total compensation costs recognized for all stock-based compensation was $2.0 million and $1.2 million for the six months ended June 30, 2019 and 2018, respectively.

Share Options – A total of 937,424 options for the purchase of shares of the Company’s common stock were granted to two executives on August 31, 2016 at a purchase price of $5.34 per share. Stock-based compensation expense totaling $2.1 million was recognized during 2017 for the accelerated vesting of these options in our IPO. The options have a ten-year term from the grant date. The options remain outstanding and unexercised and were not in-the-money at June 30, 2019.

Restricted Shares—We grant restricted stock to certain senior executives, key employees and directors. The shares vest over one to three years from the date of grant. During the vesting period, the participants have voting rights and may receive dividends, but the shares may not be sold, assigned, transferred, pledged or otherwise encumbered. Additionally, granted but unvested shares are forfeited upon termination of employment, unless an employee enters into another written arrangement with the Company. The fair value of the restricted shares on the date of the grant is amortized ratably over the service period. Compensation expense related to these awards totaled $1.1 million and $2.0 million for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, there was $6.6 million of total unrecognized compensation cost related to unvested restricted stock to be recognized over a weighted-average period of 1.6 years.

The following table summarizes restricted awards outstanding as of June 30, 2019, as well as activity during the period:


		Weighted
		Average Grant
	Shares		Date Fair Value
Outstanding at December 31, 2018	966,134	$	6.99
Granted	867,201		5.49
Vested	—		—
Forfeited	(7,087)		6.05
Outstanding at June 30, 2019	1,826,248	$	6.28