Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation

Equity-Based Compensation
6 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Restricted Stock Awards
During the six months ended March 31, 2022, the Company awarded a total of 253,659 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 $1.7 million and $0.4 million for the three months ended March 31, 2022 and 2021, respectively, and $3.2 million and $0.9 million for the six months ended March 31, 2022 and 2021, respectively. At March 31, 2022, there was approximately $16.5 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 34,058 
2023 36,558 
2024 351,556 
2025 311,378 
2026 15,000 
Total 748,550