We grant restricted stock units (“RSUs”) as part of our long-term incentive compensation to employees and non-employee members of the Board of Directors. RSUs generally vest over a period of three (3) to five (5) years for employees and one (1) 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.

The restricted share activity for the nine months ended June 30, 2023 is summarized as follows:


				Weighted-
				Average
	Number			Grant Date
	of Shares			Fair Value
Restricted shares unvested at September 30, 2022		1,172,493		$	4.43
Granted		483,723		$	2.43
Vested		(553,755	)	$	4.61
Forfeited		(220,533	)	$	3.39
Restricted shares unvested at June 30, 2023		881,928		$	3.65

As of June 30, 2023, there was $2.7 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 1.4 years.

Compensation cost for share-based awards is recognized on a straight-line basis over the vesting period. Share-based compensation expense for the three months ended June 30, 2023 and June 30, 2022 was $0.6 million and $0.7 million, respectively, and for the nine months ended June 30, 2023 and June 30, 2022 was $1.9 million and $2.1 million, respectively.

The amounts remitted for employee withholding taxes during the three months ended June 30, 2023 and June 30, 2022 were $0.3 million and $0.4 million, respectively, for which the Company withheld 163,920 and 132,151 shares of our common stock, respectively, that were underlying the RSUs that vested.