The 2003 Plan

The following table presents a summary of activity for the nine months ended September 30, 2017:

During the nine months ended September 30, 2017, no options were issued. We issue new shares upon the exercise of options. Options outstanding at September 30, 2017 had no intrinsic value. At September 30, 2017, unrecognized compensation expense related to options was less than $0.1 million, which is expected to be recognized over a weighted-average period of one year.

The 2013 Plan

On May 2, 2017, our stockholders voted on a fourth amendment to the 2013 Plan (the “2013 Plan”) to increase the number of shares that may be issued to officers, employees, non-employee directors and consultants of Revolution and its affiliates under the 2013 Plan to 1,600,000.

Restricted Shares

The following table presents a summary of activity for the nine months ended September 30, 2017:

At September 30, 2017, there was $1.2 million of unrecognized compensation expense related to nonvested restricted shares, which is expected to be recognized over a weighted-average period of 2.8 years. The total fair value of restricted shares that vested during the nine months ended September 30, 2016 was $1.1 million.

Restricted Share Units

During the nine months ended September 30, 2017, we granted restricted share units to employees which vest ratably over a three-year period. These awards are classified as equity awards, and are accounted for using the fair value established at the grant date.

The following table presents a summary of activity for the nine months ended September 30, 2017:

At September 30, 2017, there was $0.8 million of unrecognized compensation expense related to nonvested restricted share units, which is expected to be recognized over a weighted-average period of 1.8 years. The total fair value of restricted shares that vested during the nine months ended September 30, 2017 was $1.3 million.