Stock-Based Compensation Plans

9 Months Ended

Dec. 31, 2015

8. Stock-Based Compensation Plans

Our stock-based compensation expense was $1.3 million and $3.1 million for the three and nine months ended December 31, 2015, respectively, and was $0.8 million and $1.5 million for the three and nine months ended December 31, 2014. Stock-based compensation expense is included within general and administrative expenses in the unaudited condensed consolidated statements of operations. Unrecognized compensation cost was $13.3 million as of December 31, 2015 and will be recognized over the remaining weighted average life of 3.70 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 December 31, 2015 and changes during the nine months then ended, is as follows:


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