The restricted share activity for the three months ended March 31, 2020 were summarized as follows:

				Weighted-
				Average
	Number			Grant Date
	of Shares			Fair Value
Restricted shares unvested at September 30, 2019		847,974		$	9.56
Granted		156,498			6.33
Vested		(160,528	)		5.97
Forfeited		(6,000	)		7.03
Restricted shares unvested at March 31, 2020		837,944		$	8.65

As of March 31, 2020, there was $4.4 million, of total unrecognized compensation cost related to unvested share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.9 years.

Compensation cost for share-based awards are recognized on a straight-line basis over the vesting period. Share-based compensation expense for the three months ended March 31, 2020 and 2019 was $1.2 million and $1.3 million, respectively, and for the six months ended March 31, 2020 and 2019 was $2.5 million and $2.8 million, respectively.

The Company repurchased 18,244 shares of its common stock for $0.04 million to cover the income tax obligation on vested employee equity awards and warrant conversions during the six months ended March 31, 2020.

The Company has granted restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) as part of its long-term incentive compensation to employees and non-employee members of the Board of Directors. RSAs and RSUs generally vest over a period of 3 to 5 years for employees and over one year for members of the Board of Directors. The restricted common stock underlying RSAs are deemed issued and outstanding upon grant, and carry the same voting rights of unrestricted outstanding common stock. The restricted common stock underlying RSUs are not deemed issued or outstanding upon grant, and do not carry any voting rights.