Restricted Stock Units (RSUs)

6 Months Ended

Jun. 30, 2017

Restricted Stock Units (RSUs) [Abstract]

Restricted Stock Units (RSUs)

(9)Restricted Stock Units (RSUs)

Non-vested grants at December 31, 2016	733,000
Vested - April 1, 2017 –share price on vesting date was $8.54	(149,500)
Granted – May 16, 2017 – share price on grant date was $7.74	495,000
Vested – May 16, 2017 –share price on vesting date was $7.74	(495,000)
Granted - June 1, 2017 - share price on grant date was $7.49	70,000
Granted- June 6, 2017 – share price on grant date was $8.23	645,000
Forfeited	(6,500)
Non-vested grants at June 30, 2017(1)	1,292,000

(1) Following is the vesting schedule of RSUs.

Vesting Year	RSUs Vesting
2017	346,000
2018	178,250
2019	375,250
2020	231,250
2021	161,250
	1,292,000

On May 25, 2017, the Hallador Energy Company 2008 Restricted Stock Unit Plan (the Plan) was amended and restated to extend the term of the Plan to May 25, 2027 and add 1,000,000 shares to the Plan. 

At June 30, 2017, we had 1,236,866 RSUs available for future issuance.

On the vesting dates above, the shares that vested had a value of $5.1 million for the six months ended June 30, 2017. Under our RSU plan, participants are allowed to relinquish shares to pay for their required statutory income taxes.

For the six months ended June 30, 2017 and 2016, our stock based compensation was $5.4 million and $1.2 million, respectively.  For the three months ended June 30, 2017 and 2016, our stock based compensation was $4.6 million and $.6 million, respectively.

 The outstanding RSUs have a value of $8.55 million based on the August 7, 2017 closing stock price of $6.62.