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Stockholders' Equity (Tables)
6 Months Ended
Mar. 31, 2019
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used in Estimate of Fair Value of Stock Option Awards



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Three-Months Ended

 

Six-Months Ended



March 31,

 

March 31,



2019

 

2018

 

2019

 

2018

Weighted-average exercise price per share

$

77.12

 

 

$

72.01

 

 

$

79.12

 

 

$

78.91

 

Weighted-average grant date market value of Woodward stock

$

77.12

 

 

$

72.01

 

 

$

79.12

 

 

$

78.91

 

Expected term (years)

 

6.5

 

 

 

6.4

 

 

 

6.5 

-

8.7

 

 

 

6.4 

-

8.7

 

Estimated volatility

 

25.8% 

-

26.0% 

 

 

 

29.1%

 

 

 

25.7%

-

31.0%

 

 

 

29.1%

-

32.7%

 

Estimated dividend yield

 

0.7% 

-

0.8% 

 

 

 

0.8%

 

 

 

0.7%

-

0.8%

 

 

 

0.6% 

-

0.8% 

 

Risk-free interest rate

 

2.6%

 

 

 

2.7% 

-

2.8% 

 

 

 

2.6%

-

3.1%

 

 

 

2.1%

-

2.8%

 



Summary of Activity for Stock Option Awards



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three-Months Ended

 

Six-Months Ended



 

March 31, 2019

 

March 31, 2019



 

Number of options

 

Weighted-Average Exercise Price per Share

 

Number of options

 

Weighted-Average Exercise Price per Share

Options, beginning balance

 

 

6,173 

 

$

49.40 

 

 

5,611 

 

$

45.42 

Options granted

 

 

226 

 

 

77.12 

 

 

900 

 

 

79.12 

Options exercised

 

 

(638)

 

 

32.57 

 

 

(745)

 

 

32.41 

Options expired

 

 

(1)

 

 

78.97 

 

 

(1)

 

 

78.97 

Options forfeited

 

 

(27)

 

 

68.35 

 

 

(32)

 

 

68.73 

Options, ending balance

 

 

5,733 

 

 

52.27 

 

 

5,733 

 

 

52.27 



Changes in Non-vested Stock Options



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three-Months Ended

 

Six-Months Ended



 

March 31, 2019

 

March 31, 2019



 

Number of options

 

Weighted-Average Grant Date Fair Value per Share

 

Number of options

 

Weighted-Average Grant Date Fair Value Per Share

Non-vested options outstanding, beginning balance

 

 

1,862 

 

$

$23.50 

 

 

1,988 

 

$

21.64 

Options granted

 

 

226 

 

 

$22.22 

 

 

900 

 

 

23.99 

Options vested

 

 

(3)

 

 

$25.56 

 

 

(798)

 

 

19.80 

Options forfeited

 

 

(27)

 

 

$22.82 

 

 

(32)

 

 

23.00 

Non-vested options outstanding, ending balance

 

 

2,058 

 

 

$23.36 

 

 

2,058 

 

 

23.36 



Stock Options Vested, or Expected to Vest and Exercisable



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Number

 

Weighted- Average Exercise Price

 

Weighted- Average Remaining Life in Years

 

Aggregate Intrinsic Value

Options outstanding

 

 

5,733 

 

$

52.27 

 

 

6.1 

 

$

262,179 

Options vested and exercisable

 

 

3,675 

 

 

41.53 

 

 

4.8 

 

 

207,524 

Options vested and expected to vest

 

 

5,608 

 

 

51.74 

 

 

6.1 

 

 

259,403 



Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Activity for Restricted Stock Units



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three-Months Ended

 

Six-Months Ended



 

March 31, 2019

 

March 31, 2019



 

 

Number

 

 

Fair Value per Share

 

 

Number

 

 

Fair Value per Share

Beginning balance

 

 

10 

 

$

82.71 

 

 

10 

 

$

82.71 

Shares granted

 

 

 -

 

 

n/a

 

 

 -

 

 

n/a

Shares vested

 

 

 -

 

 

n/a

 

 

 -

 

 

n/a

Shares forfeited

 

 

 -

 

 

n/a

 

 

 -

 

 

n/a

Ending balance

 

 

10 

 

 

82.71 

 

 

10 

 

 

82.71