The restricted share activity for the nine months ended June 30, 2021 is summarized as follows:

				Weighted-
				Average
	Number			Grant Date
	of Shares			Fair Value
Restricted shares unvested at September 30, 2020		1,195,548		$	5.47
Granted		305,374			9.54
Vested		(445,937	)		7.16
Forfeited		(35,500	)		4.75
Restricted shares unvested at June 30, 2021		1,019,485		$	5.98

As of June 30, 2021, there was $5.4 million of total unrecognized compensation cost related to unvested share-based compensation arrangements, which is expected to be recognized over a weighted-average period of 2.6 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 June 30, 2021 and 2020 was $0.7 million and $1.0 million, respectively, and for the nine months ended June 30, 2021 and 2020 was $2.4 million and $3.5 million, respectively.

The Company repurchased 139,896 shares of its common stock for $1.4 million to cover the income tax obligation on vested employee equity awards and warrant conversions during the nine months ended June 30, 2021.

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