|6 Months Ended|
Mar. 31, 2019
|Subsequent Events [Abstract]|
Subsequent to March 31, 2019, certain stockholders of the Company converted a total of 19,856,313 shares of the Company's Class B common stock, par value $0.001, on a one-for-one basis, into shares of the Company's Class A common stock, par value $0.001. Following the conversion, there were 31,806,313 Class A shares and 19,608,306 Class B shares outstanding.
On May 13, 2019, the Company awarded a total of 212,056 restricted shares of Class A common stock to its non-employee directors under the Construction Partners, Inc. 2018 Equity Incentive Plan. The grants are classified as equity awards. The aggregate grant date fair value of these restricted stock grants was $2.7 million. The grants will vest as to two-thirds of the underlying shares on January 1, 2021 and as to the remaining one-third of the underlying shares on January 1, 2022.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef