SHARE-BASED COMPENSATION

6 Months Ended

Mar. 31, 2019

The Company provides compensation benefits to certain key employees under several share-based plans providing for performance-accelerated restricted shares (restricted shares), and to non-employee directors under a non-employee directors compensation plan.

Performance-Accelerated Restricted Share Awards

Compensation expense related to the restricted share awards was $0.9 million and $2.0 million for the three and six-month periods ended March 31, 2019, respectively, and $1.0 million and $2.1 million for the corresponding periods of 2018. There were 204,392 non-vested shares outstanding as of March 31, 2019.

Non-Employee Directors Plan

Compensation expense related to the non-employee director grants was $0.3 million and $0.5 million for the three and six-month periods ended March 31, 2019, respectively, and $0.3 million and $0.5 million for the corresponding periods of 2018.

The total share-based compensation cost that has been recognized in the results of operations and included within selling, general and administrative expenses (SG&A) was $1.2 million and $2.6 million for the three-and six-month periods ended March 31, 2019, respectively, and $1.3 million and $2.6 million for the three and six-month periods ended March 31, 2018. The total income tax benefit recognized in results of operations for share-based compensation arrangements was $0.3 million and $0.6 million for the three and six-month periods ended March 31, 2019, respectively, and $0.4 million and $0.7 million for the three and six-month periods ended March 31, 2018, respectively. As of March 31, 2019, there was $5.6 million of total unrecognized compensation cost related to share-based compensation arrangements. That cost is expected to be recognized over a remaining weighted-average period of 1.2 years.