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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Awards Outstanding | The following table presents a summary of awards outstanding:
| As of September 30, 2022
| 2004 Plan |  | 2013 Plan |  | 2021 Plan |  | Total
Granted and outstanding awards: |  |  |  |  |  |  |
Options | 175,083 |  |  | 2,543,301 |  |  | 3,000 |  |  | 2,721,384 |
Restricted stock units | — |  |  | 3,145,886 |  |  | 923,545 |  |  | 4,069,431 |
Total | 175,083 |  |  | 5,689,187 |  |  | 926,545 |  |  | 6,790,815 |
Summarized Information about Stock Options | The following table presents a summary of the stock option activity for the year ended September 30, 2022:
| Shares |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding at September 30, 2021 | 3,456,239 |  |  | $ | 19.60 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Cancelled or expired | (128,635) |  |  | 47.73 |  |  |  |  |
Exercised | (606,220) |  |  | 8.55 |  |  |  |  |
Outstanding at September 30, 2022 | 2,721,384 |  |  | $ | 20.73 |  |  | 4.9 |  | $ | 48,114,746 |
Exercisable at September 30, 2022 | 2,351,641 |  |  | $ | 16.93 |  |  | 4.5 |  | $ | 46,889,825 |
Assumptions Used to Value Stock Options | The following table provides the assumptions used in the calculation of grant-date fair values of these stock options based on the Black-Scholes option pricing model:
| Year Ended September 30,
| 2022(5) |  | 2021 |  | 2020
Expected dividend yield(1) | — |  |  | — |  |  | — |
Risk-free interest rate(2) | N/A |  | 0.4 – 1.1% |  | 0.40 – 1.8%
Expected volatility(3) | N/A |  | 86.2 – 90.4% |  | 90.0 – 92.0%
Expected term (in years)(4) | N/A |  | 6.25 |  | 6.25
Weighted-average grant date fair value per share | N/A |  | $ | 48.64 |  |  | $ | 36.35 |
(1) The dividend yield is zero as the Company currently does not pay a dividend. (2) The risk-free interest rate is based on that of the U.S. Treasury yields with equivalent terms in effect at the time of the grant.. (3) Volatility is estimated based on volatility average of the Company’s common stock price. (4) The expected term represents the period of time that stock options granted are expected to be outstanding, by using historical exercise patterns and post-vesting termination behavior. (5) No options were granted during the year ended September 30, 2022.
Summary of Share Activity Related to RSUs | The following table summarizes the activity of the Company’s RSUs:
| Number of RSUs |  | Weighted- Average Grant Date Fair Value
Outstanding as of September 30, 2021 | 3,831,850 |  |  | $ | 61.24 |
Granted | 1,396,170 |  |  | 57.18 |
Vested | (1,027,088) |  |  | 49.88 |
Forfeited | (131,501) |  |  | 64.44 |
Outstanding as of September 30, 2022 | 4,069,431 |  |  | $ | 62.96 |

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