Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation

Equity-Based Compensation
3 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
During the fiscal year ended 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 (the “2018 Equity Plan”) in lieu of any 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 underlying shares vested on January 1, 2021, and the remaining one-third of the underlying shares will vest on January 1, 2022.
During the three months ended December 31, 2020, the Company recorded compensation expense in connection with these grants in the amount of $0.4 million, which is reflected as general and administrative expenses in the Company’s Consolidated Statements of Income. At December 31, 2020, there was approximately $1.3 million of unrecognized compensation expense related to these awards.