leveraged performance units during fiscal 2015 , certain executives were granted performance units that we refer to as leveraged performance units , or lpus . lpus contain a market condition based on our relative stock price growth over a three-year performance period . the lpus contain a minimum threshold performance which , if not met , would result in no payout . the lpus also contain a maximum award opportunity set as a fixed dollar and fixed number of shares . after the three-year performance period , one-third of any earned units converts to unrestricted common stock . the remaining two-thirds convert to restricted stock that will vest in equal installments on each of the first two anniversaries of the conversion date . we recognize share-based compensation expense based on the grant date fair value of the lpus , as determined by use of a monte carlo model , on a straight-line basis over the requisite service period for each separately vesting portion of the lpu award . total shareholder return units before fiscal 2015 , certain of our executives were granted total shareholder return ( 201ctsr 201d ) units , which are performance-based restricted stock units that are earned based on our total shareholder return over a three-year performance period compared to companies in the s&p 500 . once the performance results are certified , tsr units convert into unrestricted common stock . depending on our performance , the grantee may earn up to 200% ( 200 % ) of the target number of shares . the target number of tsr units for each executive is set by the compensation committee . we recognize share-based compensation expense based on the grant date fair value of the tsr units , as determined by use of a monte carlo model , on a straight-line basis over the vesting period . the following table summarizes the changes in unvested share-based awards for the years ended may 31 , 2016 and 2015 ( shares in thousands ) : shares weighted-average grant-date fair value .

Table: shares weighted-averagegrant-datefair value unvested at may 31 2014 1754 $ 22.72 granted 954 36.21 vested -648 ( 648 ) 23.17 forfeited -212 ( 212 ) 27.03 unvested at may 31 2015 1848 28.97 granted 461 57.04 vested -633 ( 633 ) 27.55 forfeited -70 ( 70 ) 34.69 unvested at may 31 2016 1606 $ 37.25

including the restricted stock , performance units and tsr units described above , the total fair value of share- based awards vested during the years ended may 31 , 2016 , 2015 and 2014 was $ 17.4 million , $ 15.0 million and $ 28.7 million , respectively . for these share-based awards , we recognized compensation expense of $ 28.8 million , $ 19.8 million and $ 28.2 million in the years ended may 31 , 2016 , 2015 and 2014 , respectively . as of may 31 , 2016 , there was $ 42.6 million of unrecognized compensation expense related to unvested share-based awards that we expect to recognize over a weighted-average period of 1.9 years . our share-based award plans provide for accelerated vesting under certain conditions . employee stock purchase plan we have an employee stock purchase plan under which the sale of 4.8 million shares of our common stock has been authorized . employees may designate up to the lesser of $ 25000 or 20% ( 20 % ) of their annual compensation for the purchase of our common stock . the price for shares purchased under the plan is 85% ( 85 % ) of the market value on 84 2013 global payments inc . | 2016 form 10-k annual report .

Question: what is the total fair value balance of unvested shares as of may 2016?
Answer: 59823.5
Calculation: subtract(1606, 37.25)