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Stock-Based Compensation Plan (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Arrangement
Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands):
Three Months Ended
March 31,
20202019
Compensation expense$134  $123  
Share-based Compensation, Activity
The following table presents restricted stock unit award activity for the periods indicated:
Weighted-
Average Grant
Number ofDate Fair Value
Shares
per Share (1)
Restricted stock unit awards at January 1, 2020
18,782  $37.05  
Granted (2)
20,346  $24.85  
Vested(217) $37.61  
Forfeited(282) $37.61  
Restricted stock unit awards at March 31, 2020
38,629  $30.62  
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(1)Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
(2)The aggregate grant date fair value of restricted stock unit awards issued during 2020 was $0.5 million based on a grant date market price of our common shares ranging from $24.77 to $26.23 per share.

Unrecognized compensation cost associated with restricted stock unit awards was approximately $0.7 million at March 31, 2020. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.7 years.
Performance Share Unit Awards

The following table presents performance share unit award activity for the periods indicated:
Weighted-
Average Grant
Number ofDate Fair Value
Shares
per Share (1)
Performance share unit awards at January 1, 2020
2,787  $43.00  
Granted (2)
10,781  $24.92  
Vested—  $—  
Forfeited(27) $43.00  
Performance share unit awards at March 31, 2020
13,541  $28.60  
_______________
(1)Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
(2)The aggregate grant date fair value of performance share unit awards issued during 2020 was $0.2 million based on a grant date market price of our common shares ranging from $24.77 to $26.23 per share and assuming a performance factor of 100 percent.