Restricted Stock Units (RSUs)

9 Months Ended

Sep. 30, 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 – weighted average share price on vesting date was $5.48		(7,000)
Forfeited		(13,000)
Non-vested grants at September 30, 2019		777,250

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 Year		RSUs Vesting
2019		294,750
2020		176,250
2021		306,250
		777,250

The outstanding RSUs have a value of $2.6 million based on the November 1, 2019, closing stock price of $3.36.

At September 30, 2019, we had 1,266,112 RSUs available for future issuance.