Stock-Based Compensation Plans

3 Months Ended

Jun. 30, 2015

8. Stock-Based Compensation Plans

Our stock-based compensation expense was $0.9 million and less than $0.1 million for the three months ended June 30, 2015 and June 30, 2014, respectively, and is included within general and administrative expenses in the unaudited condensed consolidated statements of operations. Unrecognized compensation cost was $15.1 million as of June 30, 2015 and will be recognized over the remaining weighted average life of 4.20 years. For more information on our equity incentive plan, see Note 13 of the consolidated financial statements included in our 2015 Annual Report on Form 10-K for the year ended March 31, 2015.

A summary of the activity of restricted shares awarded under our equity incentive plan as of June 30, 2015 and changes during the three months then ended, is as follows:

Restricted Share Awards	Number of Shares	Weighted-Average Grant-Date Fair Value
Unvested as of March 31, 2015	929,000	$ 19.70
Granted	—	—
Unvested as of June 30, 2015	929,000	$ 19.70