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Stock-Based Employee Benefit Plans (Tables)
12 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Assumptions Used to Estimate Fair Value of Stock Options We used the following assumptions to estimate the fair value of our stock options during fiscal 2021, 2020 and 2019:
 
 Year Ended September 30,
 202120202019
Stock Options:
Weighted-average expected term (years)4.474.464.26
Expected volatility (range)33.6 -34.4 %30.0 -35.9 %31.1 -32.4 %
Weighted-average volatility33.9 %30.6 %32.2 %
Risk-free interest rate (range)0.29 -0.73 %0.36 -1.68 %2.50 -2.68 %
Weighted-average expected dividend yield— %— %— %
Summary of Option Activity
The following table summarizes option activity during fiscal 2021: 
SharesWeighted-
average
Exercise
Price
Weighted-
average
Remaining
Contractual
Term
Aggregate
Intrinsic Value
 (In thousands) (In years)(In thousands)
Outstanding at September 30, 2020246 $166.80 
Granted21 485.77 
Exercised(40)108.81 
Forfeited(1)506.91 
Outstanding at September 30, 2021226 $205.90 3.44$45,263,900 
Exercisable at September 30, 2021163 $168.38 2.85$37,659,408 
Vested or expected to vest at September 30, 2021225 $204.66 3.42$45,173,168 
Summary of Restricted Stock Unit and Market Stock Unit Activity
The following table summarizes the RSUs activity during fiscal 2021: 
SharesWeighted-average Grant-date Fair Value
(In thousands)
Outstanding at September 30, 2020721 $229.10 
Granted182 505.70 
Released(311)197.53 
Forfeited(75)300.05 
Outstanding at September 30, 2021517 $335.16 
The following table summarizes the MSUs activity during fiscal 2021:
SharesWeighted- average Grant-date Fair Value
(In thousands)
Outstanding at September 30, 202063 $311.91 
Granted67 471.16 
Released(67)257.15 
Outstanding at September 30, 202163 $541.42 
Summary of Performance Stock Unit Activity
The following table summarizes the PSUs activity during fiscal 2021: 
SharesWeighted- average Grant-date Fair Value
(In thousands)
Outstanding at September 30, 2020127 $248.97 
Granted67 506.91 
Released(68)217.36 
Outstanding at September 30, 2021126 $403.61 
Assumptions Used to Estimate Fair Value of Market Stock Units We used the following assumptions to estimate the fair value of our MSUs during fiscal 2021, 2020 and 2019:
 Year Ended September 30,
 202120202019
Expected volatility in FICO’s stock price
41.3 %25.2 %24.6 %
Expected volatility in Russell 3000 Index23.7 %12.9 %12.8 %
Correlation between FICO and the Russell 3000 Index
77.5 %64.0 %66.6 %
Risk-free interest rate0.20 %1.67 %2.73 %
Average expected dividend yield— %— %— %