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Stock-based Compensation | 6 Months Ended
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Mar. 31, 2020
Share-based Payment Arrangement [Abstract] |
Stock-based Compensation | Stock-based Compensation Stock-based compensation expense is included in general and administrative expenses in the condensed consolidated statements of operations. Following is a summary of stock-based compensation expense related to stock options and restricted stock awards for the three and six months ended March 31, 2020 and March 31, 2019, respectively.
| Three Months Ended |  | Six Months Ended
| March 31, |  | March 31,
in thousands | 2020 |  | 2019 |  | 2020 |  | 2019
Stock-based compensation expense | $ | 899 |  |  | $ | 2,180 |  |  | $ | 3,210 |  |  | $ | 4,294 |
Stock Options Following is a summary of stock option activity for the six months ended March 31, 2020:
| Six Months Ended
| March 31, 2020
| Shares |  | Weighted Average Exercise Price
Outstanding at beginning of period | 523,754 |  |  | $ | 14.34 |
Granted | 950 |  |  | 10.67 |
Exercised | (126,492 | ) |  | 11.05 |
Cancelled | (2,350 | ) |  | 9.70 |
Outstanding at end of period | 395,862 |  |  | $ | 15.42 |
Exercisable at end of period | 363,556 |  |  | $ | 15.65 |
Vested or expected to vest in the future | 394,502 |  |  | $ | 15.43 |
As of March 31, 2020 and September 30, 2019, total unrecognized compensation cost related to unvested stock options was $0.1 million and $0.1 million, respectively. The remaining cost as of March 31, 2020 is expected to be recognized over a weighted-average period of 0.77 years. Restricted Stock Awards During the six months ended March 31, 2020, the Company issued time-based restricted stock awards that vest ratably over three years on each anniversary from the grant date and performance-based restricted stock awards with a payout subject to the achievement of performance and market conditions over a three-year period. Following is a summary of restricted stock activity for the six months ended March 31, 2020:
| Six Months Ended March 31, 2020
| Performance-Based Restricted Shares |  | Time-Based Restricted Shares |  | Total Restricted Shares
Beginning of period | 778,814 |  |  | 611,607 |  |  | 1,390,421 |
Granted | 260,131 |  |  | 320,236 |  |  | 580,367 |
Vested | (242,921 | ) |  | (291,846 | ) |  | (534,767 | )
Forfeited | — |  |  | (11,448 | ) |  | (11,448 | )
End of period | 796,024 |  |  | 628,549 |  |  | 1,424,573 |
Each of our performance-based restricted share represents a contingent right to receive one share of the Company's common stock if vesting is satisfied at the end of the three-year performance period. Our performance stock award plans provide that any performance shares earned in excess of the target number of performance shares issued may be settled in cash or additional shares at the discretion of the Compensation Committee. In November 2019, we cash settled 135,337 shares earned above target level based on the performance level achieved under our 2017 performance-based award plan. The cash payment totaled $2.1 million, which was reflected as a reduction to paid-in capital in the accompanying condensed consolidated statements of stockholders' equity. We have not cash settled any such performance-based awards prior to or subsequent to the November 2019 transaction, and we have no current plans to cash settle any additional performance-based restricted shares in the future. As of March 31, 2020 and September 30, 2019, total unrecognized compensation cost related to unvested restricted stock awards was $13.3 million and $9.0 million, respectively. The remaining cost as of March 31, 2020 is expected to be recognized over a weighted average period of 2.00 years.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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