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 March 31, 2021, this plan had 1,878,295 shares of common stock remaining available for future issuances.

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

RSU activity and related information for the quarter ended March 31, 2021 is summarized below:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested RSU awards outstanding at December 31, 2020		581,365		$	7.83
Grants		267,573			5.86
Forfeitures		(111,897	)		8.71
Vestings		(71,240	)		8.71
Unvested RSU awards outstanding at March 31, 2021		665,801			6.80

During the quarters ended March 31, 2021 and 2020, the Company recognized in Compensation-related expense $139,000 and $270,000, respectively, related to RSU awards. Unrecognized estimated compensation expense for these awards totaled $2.5 million at March 31, 2021, to be expensed over a weighted average period of 1.6 years (assumes estimated attainment levels for the related performance metrics will be met).

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 the related performance periods. If these shares do not vest, the related dividends will be forfeited. Included in Common stock dividends payable at March 31, 2021 are estimated dividends payable pertaining to these awards of $310,000.

Restricted stock award activity for the quarter ended March 31, 2021 is summarized below:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested stock awards outstanding at December 31, 2020		768,041		$	7.42
Grants		335,654			5.67
Forfeitures		(21,145	)		6.76
Vestings		(173,734	)		8.60
Unvested stock awards outstanding at March 31, 2021		908,816			6.57

During the quarters ended March 31, 2021 and 2020, the Company recognized in Compensation-related expense $410,000 and $433,000, respectively, related to amortization of the grant date fair value of employee stock awards. In addition, during the quarters ended March 31, 2021 and 2020, the Company recognized in Other general and administrative expense $158,000 and $131,000, respectively, related to amortization of the grant date fair value of director stock awards. Unrecognized compensation expense for unvested stock awards for employees and directors totaled $3.3 million as of March 31, 2021, to be expensed over a weighted average period of 1.5 years.

Service-based stock awards issued to non-executive employees and to directors 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 service periods. If these awards do not vest, the related accrued dividends will be forfeited. Included in Common stock dividend payable at March 31, 2021 are estimated dividends payable pertaining to these awards totaling $436,000.