Stock-Based Compensation Plans

6 Months Ended

Sep. 30, 2015

8. Stock-Based Compensation Plans

Our stock-based compensation expense was $0.9 million and $1.8 million for the three and six months ended September 30, 2015, respectively, and was $0.8 million for the three and six months ended September 30, 2014. Stock-based compensation expense is included within general and administrative expenses in the unaudited condensed consolidated statements of operations. Unrecognized compensation cost was $14.1 million as of September 30, 2015 and will be recognized over the remaining weighted average life of 3.95 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 September 30, 2015 and changes during the six 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 September 30, 2015	929,000	$	19.70