Stock-Based Compensation Plans

9 Months Ended

Dec. 31, 2022

Stock-Based Compensation Plans

Stock-Based Compensation Plans

11. Stock-Based Compensation Plans

Our stock-based compensation expense is included within general and administrative expenses in the unaudited interim condensed consolidated statements of operations and was $1.0 million and $0.7 million for the three months ended December 31, 2022 and 2021, respectively, and $3.4 million and $2.6 million for the nine months ended December 31, 2022 and 2021 respectively. Unrecognized compensation cost was $2.7 million as of December 31, 2022 and will be recognized over a remaining weighted average life of 2.08 years. For more information on our equity incentive plan, refer to Note 13 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2022.

A summary of the activity of restricted shares and units awarded under our equity incentive plan as of December 31, 2022 and changes during the nine months ended December 31, 2022, is as follows:

		Weighted-Average
		Grant-Date
Incentive Share/Unit Awards	Number of Shares/Units	Fair Value
Unvested as of April 1, 2022	329,090	$	10.56
Granted	266,350		15.55
Vested	(264,558)		(11.96)
Unvested as of December 31, 2022	330,882	$	13.46