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Stock-based Compensation | 9 Months Ended
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Jun. 30, 2021
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 nine months ended June 30, 2021 and 2020, respectively.
| Three Months Ended |  | Nine Months Ended
| June 30, |  | June 30,
in thousands | 2021 |  | 2020 |  | 2021 |  | 2020
Stock-based compensation expense | $ | 3,194 |  |  | $ | 1,659 |  |  | $ | 9,254 |  |  | $ | 4,869 |
Stock Options Following is a summary of stock option activity for the nine months ended June 30, 2021:
| Nine Months Ended
| June 30, 2021
| Shares |  | Weighted Average Exercise Price
Outstanding at beginning of period | 392,465 |  |  | $ | 15.47 |
Exercised | (277,806) |  |  | 14.48 |
Outstanding at end of period | 114,659 |  |  | $ | 17.87 |
Exercisable at end of period | 113,709 |  |  | $ | 17.93 |
As of June 30, 2021 and September 30, 2020, unrecognized compensation costs related to unvested stock options were less than $0.1 million. The remaining costs as of June 30, 2021 are expected to be recognized over a weighted-average period of 0.68 years. Restricted Stock Awards During the nine months ended June 30, 2021, the Company issued time-based restricted stock awards. The time-based restricted shares granted to our non-employee directors vest on the first anniversary of the grant, while the time-based restricted shares granted to our executive officers and other employees generally vest ratably over three years from the date of grant. Performance-based restricted share awards vest subject to the achievement of performance and market conditions over a three-year period. Following is a summary of restricted stock activity for the nine months ended June 30, 2021:
| Nine Months Ended June 30, 2021
| Performance-Based Restricted Shares |  | Time-Based Restricted Shares |  | Total Restricted Shares
Beginning of period | 796,024 |  |  | 610,130 |  |  | 1,406,154 |
Granted (a) | 164,296 |  |  | 251,788 |  |  | 416,084 |
Vested | (222,165) |  |  | (346,856) |  |  | (569,021) |
Forfeited | — |  |  | (28,488) |  |  | (28,488) |
End of period | 738,155 |  |  | 486,574 |  |  | 1,224,729 |
(a) Each of our performance-based restricted share represent 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 2020, we issued 60,930 shares earned above target level based on the performance level achieved under the fiscal 2018 performance-based award plan. As of June 30, 2021 and September 30, 2020, total unrecognized compensation costs related to unvested restricted stock awards w as $9.2 million and $9.0 million, respectively. The remaining costs as of June 30, 2021 are expected to be recognized over a weighted average period of 1.53 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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