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Stock-Based Compensation
6 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION
The following table summarizes stock-based compensation expense recognized in the condensed consolidated statements of operations: 
 
Three Months Ended
September 30,
 
Six Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Cost of revenue
$
1,847

 
$
1,190

 
$
3,306

 
$
2,698

General and administrative expenses
4,499

 
3,502

 
8,289

 
7,883

Total
$
6,346

 
$
4,692

 
$
11,595

 
$
10,581


The following table summarizes the total stock-based compensation expense recognized in the condensed consolidated statements of operations by the following types of equity awards:    
 
Three Months Ended
September 30,
 
Six Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Equity Incentive Plan Options
$
493

 
$
306

 
$
969

 
$
1,564

Class A Restricted Common Stock
5,853

 
4,386

 
10,626

 
9,017

Total
$
6,346

 
$
4,692

 
$
11,595

 
$
10,581



As of September 30, 2017, there was $30.1 million of total unrecognized compensation cost related to unvested stock-based compensation agreements. The unrecognized compensation cost as of September 30, 2017 is expected to be fully amortized over the next 4.5 years. Absent the effect of accelerating stock compensation cost for any departures of employees who may continue to vest in their equity awards, the following table summarizes the unrecognized compensation cost and the weighted-average period the cost is expected to be amortized.
 
 
September 30, 2017
 
 
Unrecognized Compensation Cost
 
Weighted Average Remaining Period to be Recognized (in years)
Equity Incentive Plan Options
 
$
3,522

 
3.96
Class A Restricted Common Stock
 
26,576

 
2.19
Total
 
$
30,098

 
 

Equity Incentive Plan
As of September 30, 2017, there were 3,405,801 EIP options outstanding, of which 900,833 were unvested.
Grants of restricted stock units and Class A Restricted Common Stock
On July 3, 2017, the Board of Directors granted 264,465 restricted stock units in conjunction with the Annual Incentive Plan adopted on October 1, 2010, or Annual Incentive Plan. The amount of the annual incentive payment was determined based on performance targets established by the Compensation Committee and a portion of the incentive payment awarded under the Annual Incentive Plan was paid in the form of restricted stock units. A restricted stock unit represents a contingent right to receive one share of Class A Common Stock upon vesting. The restricted stock units will vest based on the passage of time, subject to participant's continued employment with the Company. The portion to be paid in the form of restricted stock units will be recognized in the accompanying consolidated statements of operations based on grant date fair value over the vesting period of 3 years. The aggregate fair value was estimated at $8.6 million, based on the stock price of $32.55 on the grant date.
On August 2, 2017 and September 18, 2017, the Board of Directors granted 6,531 and 5,147 restricted stock units, respectively, to certain newly hired and newly promoted vice presidents. The aggregate fair values were estimated at $0.2 million for each grant, based on stock prices of $34.02 on August 2, 2017 and $35.93 on September 18, 2017.
On August 10, 2017, the Board of Directors granted 51,887 shares of Class A restricted common stock to members of the Board of Directors. The aggregate value of these awards was estimated at $1.7 million based on the stock price of $32.67 on the grant date.