Restricted Stock Units (RSUs)

9 Months Ended

Sep. 30, 2018

Restricted Stock Units (RSUs) [Abstract]

(11)RESTRICTED STOCK UNITS (RSUs)


Non-vested grants at December 31, 2017	944,500
Granted	-
Vested - weighted average share price on vesting date was $6.65	(223,500	)
Forfeited	(10,000	)
Non-vested grants at September 30, 2018	711,000

The 223,500 shares that vested during the nine months ended September 30, 2018, had a value of $1.5 million. 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, 2018, and 2017, our stock-based compensation was $2.8 million and $6.4 million, respectively. For the three months ended September 30, 2018 and 2017, our stock-based compensation was $0.4 million and $1.0 million, respectively.

Non-vested RSU grants will vest as follows:


Vesting			RSUs
Year			Vesting
2018			121,250
2019			307,250
2020			176,250
2021			106,250
			711,000

The outstanding RSUs have a value of $4.4 million based on the September 28, 2018, closing stock price of $6.22.

At September 30, 2018, we had 1,404,325 RSUs available for future issuance.