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Stockholders' Equity | 9 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Shareholders' Equity and Share-based Payments [Text Block] | 7. STOCKHOLDERS’ EQUITY Equity Incentive Plan The Company’s 2006 Equity Incentive Plan, as amended and restated (the “Equity Incentive Plan”), provides for grants of stock options as well as grants of stock, including restricted stock. Approximately 3.0 million shares of common stock are authorized for issuance under the Equity Incentive Plan, of which approximately 618,222 shares were available for issuance at June 30, 2023. Stock Repurchase Program In 2015, our Board authorized a stock repurchase program for the purchase from time to time of up to 1.5 million shares of the Company’s common stock, and in 2019 authorized the repurchase from time to time of up to an additional 1.0 million shares under the program. In December 2022, our Board terminated the remaining authorization under this program, and approved a new $40,000 share repurchase program. Share purchases are made for cash in open market transactions at prevailing market prices or in privately negotiated transactions or otherwise. The timing and amount of purchases under the program are determined based upon prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which allows repurchases under predetermined terms at times when the Company might otherwise be prevented from purchasing under insider trading laws or because of self-imposed blackout periods. The program does not require the Company to purchase any specific number of shares and may be modified, suspended, reinstated, or terminated at any time at the Company’s discretion and without notice. We repurchased 234 and 224,013 shares, respectively, of our common stock during the three and nine months ended June 30, 2023 in open market transactions at an average price of $40.00 and $31.06, respectively, per share. During the three and nine months ended June 30, 2022, we repurchased 185,887 and 244,889 shares, respectively, of our common stock in open market transactions at an average price of $29.94 and $34.01, respectively, per share. Treasury Stock During the nine months ended June 30, 2023, we issued 103,053 shares of common stock from treasury stock to employees and repurchased 31,095 shares of common stock from our employees to satisfy statutory tax withholding requirements upon the vesting of certain performance phantom stock units under the Equity Incentive Plan. In addition, 266 restricted shares were forfeited and returned to treasury stock. During the nine months ended June 30, 2023, we issued 2,000 unrestricted shares to satisfy the exercise of outstanding options. During the nine months ended June 30, 2022, we issued 73,627 shares of common stock from treasury stock to employees and repurchased 45,198 shares of common stock from our employees to satisfy statutory tax withholding requirements upon the vesting of certain performance phantom stock units under the Equity Incentive Plan. In addition, we issued 83,540 shares from treasury stock to satisfy the vesting of Director PSUs (as defined below) in conjunction with the departure of a Board member. Restricted Stock We granted no restricted shares to executives during the nine months ended June 30, 2023. Of the awards previously granted, 13,373 shares vested and 266 shares were forfeited. We did not recognize any compensation expense related to restricted stock awards during the three months ended June 30, 2023, and during the three months ended June 30, 2022 we recognized $36 in compensation expense related to restricted stock awards. During the nine months ended June 30, 2023 and 2022, we recognized $25 and $107, respectively, in compensation expense related to restricted stock awards. At June 30, 2023, we had no remaining unvested restricted shares or unamortized compensation cost related to outstanding unvested restricted stock. Director Phantom Stock Units Director phantom stock units (“Director PSUs”) are granted to the members of the Board of Directors as part of their overall compensation. The Director PSUs are contractual rights to receive one share of the Company's common stock and are paid via unrestricted stock grants to each director upon their departure from the Board of Directors, or upon a change in control. We record compensation expense for the full value of the grant on the date of grant. We recognized compensation expense related to these grants of $99 and $96 during the three months ended June 30, 2023 and 2022, respectively, and $289 and $289 during the nine months ended June 30, 2023 and 2022, respectively. Employee Phantom Stock Units An employee phantom stock unit (an “Employee PSU”) is a contractual right to receive one share of the Company’s common stock. Depending on the terms of each grant, Employee PSUs may vest upon the achievement of certain specified performance objectives and continued performance of services, or may vest based on continued performance of services through the vesting date. As of June 30, 2023, the Company had outstanding Employee PSUs, which, subject to the achievement of certain performance metrics, could result in the issuance of 330,660 shares of common stock. During the nine months ended June 30, 2023, we granted 130,739 Employee PSUs, 12,987 were forfeited, and 103,053 vested. During the three months ended June 30, 2023 and 2022, we recognized $1,200 and $866, respectively, in compensation expense related to Employee PSU grants. During the nine months ended June 30, 2023 and 2022, we recognized $2,941 and $2,498, respectively, in compensation expense related to Employee PSU grants.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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