Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation

Equity-Based Compensation
9 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Restricted Stock Awards
During the nine months ended June 30, 2022, the Company awarded a total of 256,167 restricted shares of Class A common stock to certain directors, officers and employees of the Company under the Equity Incentive Plan.
Compensation expense in connection with the Equity Incentive Plan, is reflected as general and administrative expenses in the Company’s Consolidated Statements of Comprehensive Income. Compensation expense was $1.8 million and $1.3 million for the three months ended June 30, 2022 and 2021, respectively, and $5.1 million and $2.2 million for the nine months ended June 30, 2022 and 2021, respectively. At June 30, 2022, there was approximately $14.9 million of unrecognized compensation expense related to these awards.
The underlying shares subject to awards granted under the Equity Incentive Plan will vest, as follows:
Fiscal Year Number of Shares
2022 34,685 
2023 37,185 
2024 352,183 
2025 312,004 
2026 15,000 
Total 751,057