All equity-based awards and other long-term incentive awards are made pursuant to the Company’s Amended and Restated 2014 Flexible Incentive Plan that was approved by stockholders in May 2014. At December 31, 2018, this plan had 3,312,051 shares of common stock remaining available for future issuances.

Long-term equity-based Awards – Performance-based Restricted Stock Units (“RSUs”)

A summary of the Company’s restricted stock unit activity and related information for the year ended December 31, 2018 is summarized below:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested RSU awards outstanding at December 31, 2017		435,976		$	9.10
Grants		183,137			8.71
Forfeitures		(117,255	)		8.83
Unvested RSU awards outstanding at December 31, 2018		501,858			9.02

Dividends accrue from the date of grant and will be paid in cash to the extent the units convert into shares of common stock following completion of related performance periods. Unrecognized estimated compensation expense for these awards totaled $1.0 million at December 31, 2018, to be expensed over a weighted average period of 1.5 years (assumes estimated attainment levels for the related performance metrics will be met).

Recognized in Compensation-related expense are $104,000, $149,000 and $204,000 related to this program during 2018, 2017 and 2016, respectively. Included in Common stock dividends payable at December 31, 2018 and 2017 are estimated dividends payable pertaining to these awards of $76,000 and $193,000, respectively.

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested stock awards outstanding at December 31, 2017		296,940		$	9.90
Grants		240,847			8.60
Vestings		(76,696	)		11.15
Unvested stock awards outstanding at December 31, 2018		461,091			9.01

During 2018, 2017 and 2016, the Company recognized in Compensation-related expense $1.2 million, $834,000 and $828,000, respectively, related to amortization of the grant date fair value of employee stock awards. Included in Common stock dividend payable at December 31, 2018 and 2017 are estimated dividends payable pertaining to these awards totaling $253,000 and $134,000, respectively. In addition, the Company recognized in Other general and administrative expense $450,000, $421,000 and $409,000 related to amortization of the grant date fair value of director stock awards during 2018, 2017 and 2016, respectively. Unrecognized compensation expense for unvested stock awards for all employees and directors totaled $1.8 million as of December 31, 2018, to be expensed over a weighted average period of 1.3 years.

Service-based stock awards issued to directors and to non-executive employees receive dividends on a current basis without risk of forfeiture if the related awards do not vest. Stock awards issued to executives defer the payment of dividends accruing between the grant dates and the end of related performance or service periods. If these awards do not vest, the related accrued dividends will be forfeited.

All outstanding option awards were granted prior to 2010, have ten-year contractual terms and were issued with strike prices equal to the closing market price of Capstead’s common stock on the dates of grant. The fair value of these awards was estimated at that time using a Black-Scholes option pricing model and was expensed over the related vesting periods.

				Weighted
				Average
	Number of			Exercise
	Shares			Price
Option awards outstanding at December 31, 2017		30,000		$	12.28
Expirations		(15,000	)		12.87
Option awards outstanding at December 31, 2018		15,000			11.69

All outstanding option awards are exercisable at December 31, 2018. These awards have a weighted average remaining contractual term of 0.3 years with no aggregate intrinsic value.