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Stock-Based Compensation Plans | 9 Months Ended
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Dec. 31, 2019
Stock-Based Compensation Plans |
Stock-Based Compensation Plans | 8. 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 $0.7 million and $1.2 million for the three months ended December 31, 2019 and 2018, respectively, and $2.8 million and $4.2 million for the nine months ended December 31, 2019 and 2018, respectively. Unrecognized compensation cost was $2.0 million as of December 31, 2019 and will be recognized over a remaining weighted average life of 1.91 years. For more information on our equity incentive plan, refer to Note 11 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2019. In June, September, and December 2019, we granted 7,750, 6,470, and 4,745 shares of stock, respectively, to our non-executive directors, which were valued and expensed at their grant date fair market value. In July 2019, we granted 1,550 shares of stock to a non-employee consultant, which were valued and expensed at their grant date fair market value. In August 2019, we granted an aggregate of 175,200 shares of restricted stock and 22,500 restricted stock units to certain of our officers and employees. One-fourth of the shares of restricted stock vested on the grant date and one-fourth will vest equally on the first, second and third anniversaries of the grant date. One-third of restricted stock units will vest equally on the first, second, and third anniversaries of the grant date. The shares of restricted stock and restricted stock units were valued at their grant date fair market value and are expensed on a straight-line basis over the respective vesting periods. A summary of the activity of restricted shares and units awarded under our equity incentive plan as of December 31, 2019 and changes during the nine months ended December 31, 2019, is as follows:
|  |  |  | Weighted-Average |
|  |  |  | Grant-Date |
Incentive Share/Unit Awards |  | Number of Shares/Units |  | Fair Value |
Unvested as of April 1, 2019 |  | 641,013 |  | $ | 13.54 |
Granted |  | 218,215 |  |  | 8.47 |
Vested |  | (457,524) |  |  | 15.23 |
Unvested as of December 31, 2019 |  | 401,704 |  | $ | 8.87 |

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