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| SHARE BASED PAYMENTS | 4. SHARE BASED PAYMENTS The amounts recorded as share based compensation expense consist of restricted stock awards issued to officers and employees that have vesting periods up to three years. Awards are typically made pursuant to employment agreements. Restricted stock awards are granted out of the Company’s 2020 and 2021 Equity Compensation Plans. The MediaCo Holding Inc. 2025 Equity Compensation Plan (the “2025 Plan”) was approved by the Company’s shareholders at the annual meeting held on August 8, 2025. The 2025 Plan authorizes the issuance of up to 5,000,000 shares of Class A common stock for equity-based awards to employees, directors, consultants, and advisors, and is intended to replace the Company’s 2021 and 2020 Equity Compensation Plans. No awards were granted under the 2025 Plan during the year ended December 31, 2025. Outstanding awards under the prior plans remain in effect according to their original terms. We determine the fair value of restricted stock awards based on the closing price of our stock on the date of grant. We generally recognize compensation expense related to restricted stock awards on a straight-line basis over the period during which the restriction lapses. Forfeitures are recognized in the period in which they occur. The following table presents a summary of the Company’s restricted stock grants outstanding at December 31, 2025, and restricted stock activity during the year ended December 31, 2025 (“Price” reflects the weighted average share price at the date of grant):
Recognized Non-Cash Compensation Expense The following table summarizes stock-based compensation expense recognized by the Company for the years ended December 31, 2025 and 2024. Tax benefit related to stock compensation for the year ended December 31, 2025 was $22.0 thousand and tax expense related to stock compensation was $0.1 million for the year ended December 31, 2024.
As of December 31, 2025, there was $6.8 thousand of unrecognized compensation cost related to nonvested stock-based compensation arrangements. The cost is expected to be recognized over a weighted average period of approximately 0.5 years.
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