Restricted Stock Units (RSUs)

3 Months Ended

Mar. 31, 2019

Restricted Stock Units (RSUs) [Abstract]

(11)RESTRICTED STOCK UNITS (RSUs)


Non-vested grants at December 31, 2018			789,250
Granted - share price on grant date was $5.27			8,000
Vested			-
Forfeited			-
Non-vested grants at March 31, 2019			797,250

No shares vested during the three months ended March 31, 2019.

For the three months ended March 31, 2019, and 2018, our stock-based compensation was $0.5 million and $2.0 million, respectively. With the passing of our Chairman, Victor Stabio, on March 7, 2018, the vesting of his 220,000 RSUs accelerated. The value of the accelerated RSUs was $1.5 million.

Non-vested RSU grants will vest as follows:


Vesting			RSUs
Year			Vesting
2019			304,750
2020			176,250
2021			316,250
			797,250

The outstanding RSUs have a value of $4.0 million based on the May 3, 2019, closing stock price of $5.07.

At March 31, 2019, we had 1,250,466 RSUs available for future issuance.