Restricted Stock Units (RSUs)

9 Months Ended

Sep. 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
Granted - average weighted price per share on grant date $7.99	1,210,000
Vested - average weighted price per share on vesting date was $7.59	(720,500)
Forfeited	(8,000)
Non-vested grants at September 30, 2017(1)	1,214,500
(1) Following is the vesting schedule of RSUs.

Vesting Year	RSUs Vesting
2017	270,000
2018	178,250
2019	373,750
2020	231,250
2021	161,250
	1,214,500

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 September 30, 2017, we had 1,267,917 RSUs available for future issuance.

Upon vesting, the shares noted above had a value of $5.5 million for the nine months ended September 30, 2017, of which $438,000 was for the three months ended September 30, 2017.  Under our RSU plan, participants are allowed to relinquish shares to pay for their required statutory income taxes.

For the nine months ended September 30, 2017 and 2016, our stock-based compensation was $6.4 million and $1.8 million, respectively.  For the three months ended September 30, 2017 and 2016, our stock-based compensation was $1.0 million and $.6 million, respectively.

The outstanding RSUs have a value of $6.1 million based on the November 3, 2017, closing stock price of $5.02.