Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation

Equity-Based Compensation
6 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
During the fiscal year ending September 30, 2019, the Company awarded a total of 292,534 restricted shares of Class A common stock to its non-employee directors under the Construction Partners, Inc. 2018 Equity Incentive Plan in lieu of cash compensation. The grants are classified as equity awards. The aggregate grant date fair value of these restricted awards was $3.8 million. Two-thirds of the restricted shares of Class A common stock will vest on January 1, 2021, and the remaining one-third will vest on January 1, 2022.
During the three and six months ended March 31, 2020, the Company recorded compensation expense in connection with these grants in the amount of $0.4 million and $0.8 million, respectively, which is reflected as general and administrative expenses in the Company’s Consolidated Statements of Income. At March 31, 2020, there was approximately $2.4 million of unrecognized compensation expense related to these awards.