Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation

v3.21.2
Equity-Based Compensation
12 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Restricted Stock Awards
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 Equity Incentive Plan. The grants are classified as equity awards. The aggregate grant date fair value of these restricted stock awards was $3.8 million. During the fiscal years ended September 30, 2021, 2020 and 2019, the Company recorded $1.3 million, $1.6 million and $0.5 million, respectively, of compensation expense in connection with these grants, which is reflected as general and administrative expenses in the Company’s Consolidated Statements of Comprehensive Income. At September 30, 2021, there was approximately $0.4 million of unrecognized compensation expense related to these awards.
During the fiscal year ended September 30, 2021, the Company awarded a total of 510,733 restricted shares of Class A common stock to certain members of Company management under the Equity Incentive Plan. The grants are classified as equity awards. The aggregate grant date fair value of these restricted awards was $13.6 million. During the fiscal year ended September 30, 2021, the Company recorded compensation expense in connection with these grants in the amount of $2.2 million, which is reflected as general and administrative expenses in the Company’s Consolidated Statements of Comprehensive Income. At September 30, 2021, there was approximately $11.4 million of unrecognized compensation expense related to these awards.
The underlying shares subject to awards granted under the Equity Incentive Plan will vest, as applicable, as follows:
Fiscal Year Number of Shares
2022 110,195 
2023 12,683 
2024 242,683 
2025 230,000 
Total 595,561