XML 37 R20.htm IDEA: XBRL DOCUMENT
v3.10.0.1

SHARE BASED COMPENSATION PLANS | 12 Months Ended
--- | ---
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
SHARE BASED COMPENSATION PLANS | SHARE-BASED COMPENSATION PLANS All share and per share data for all periods presented has been adjusted to reflect the 3-for-1 forward stock split of the Company's common stock effected by the Company with respect to its common stock on October 4, 2018. The Company maintains the 2002 Omnibus Incentive Plan, as amended and restated, which, among other things, provides for the awarding of stock options and nonvested restricted shares to certain officers and directors of the Company. Awards are granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors. The following table shows the effect to income, net of tax benefits, of share-based expense recorded in the years ended September 30, 2018, 2017 and 2016.
Year Ended September 30, | 2018 |  | 2017 |  | 2016
| (Dollars in Thousands)
Total employee stock-based compensation expense recognized in income, net of tax effects of $3,139, $3,907, and $192, respectively | $ | 7,878 |  |  | $ | 6,486 |  |  | $ | 559 |
As of September 30, 2018, stock-based compensation expense not yet recognized in income totaled $17.0 million, which is expected to be recognized over a weighted-average remaining period of 3.59 years. At grant date, the fair value of options awarded to recipients is estimated using a Black-Scholes valuation model. The exercise price of stock options equals the fair market value of the underlying stock at the date of grant. Options are issued for 10-year periods with 100% vesting generally occurring either at grant date or over a four-year period. No options were granted during the years ended September 30, 2018, 2017 or 2016. The intrinsic value of options exercised during the years ended September 30, 2018, 2017 and 2016 were $1.9 million, $1.8 million and $1.5 million, respectively. Shares have previously been granted each year to executives and senior leadership members under the applicable Company incentive plan. These shares vest at various times ranging from immediately to four years based on circumstances at time of grant. The fair value is determined based on the fair market value of the Company’s stock on the grant date. Director shares are issued to the Company’s directors, and these shares vest immediately. The total fair value of director’s shares granted during the years ended September 30, 2018, 2017 and 2016 was $1.1 million, $0.5 million and $0.2 million, respectively. In addition to the Company’s 2002 Omnibus Incentive Plan, the Company also maintains the 1995 Stock Option and Incentive Plan. No new options were, or could have been, awarded under the 1995 plan during the year ended September 30, 2018; however, previously awarded options were exercised under this plan during the year ended September 30, 2017. In addition, during the first and second quarters of fiscal 2017, shares were granted to certain named executive officers (“NEOs”) of the Company in connection with their signing of employment agreements with the Company. These stock awards vest in equal installments over eight years. The following tables show the activity of options and share awards (including shares of restricted stock subject to vesting and fully-vested restricted stock) granted, exercised or forfeited under all of the Company’s option and incentive plans during the years ended September 30, 2018 and 2017.
| Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Yrs) |  |  | Aggregate Intrinsic Value |
| (Dollars in Thousands, Except Share and Per Share Data)
Options outstanding, September 30, 2017 | 227,271 |  |  | $ | 7.54 |  |  | 2.28 |  |  | $ | 4,225 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | (71,310 | ) |  | 5.48 |  |  | — |  |  | 1,909 |
Forfeited or expired | — |  |  | — |  |  | — |  |  | — |
Options outstanding, September 30, 2018 | 155,961 |  |  | $ | 8.48 |  |  | 1.78 |  |  | $ | 2,974 |
Options exercisable end of year | 155,961 |  |  | $ | 8.48 |  |  | 1.78 |  |  | $ | 2,974 |
| Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Yrs) |  |  | Aggregate Intrinsic Value |
| (Dollars in Thousands, Except Share and Per Share Data)
Options outstanding, September 30, 2016 | 376,680 |  |  | $ | 8.58 |  |  | 2.68 |  |  | $ | 4,379 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | (88,158 | ) |  | 11.13 |  |  | — |  |  | 1,790 |
Forfeited or expired | (61,251 | ) |  | 9 |  |  | — |  |  | 1,464 |
Options outstanding, September 30, 2017 | 227,271 |  |  | $ | 7.54 |  |  | 2.28 |  |  | $ | 4,225 |
Options exercisable end of year | 227,271 |  |  | $ | 7.54 |  |  | 2.28 |  |  | $ | 4,225 |
| Number of Shares |  |  | Weighted Average Fair Value At Grant |
| (Dollars in Thousands, Except Share and Per Share Data)
Nonvested shares outstanding, September 30, 2017 | 913,578 |  |  | $ | 28.99 |
Granted | 354,108 |  |  | 30.36 |
Vested | (253,944 | ) |  | 27.49 |
Forfeited or expired | (7,929 | ) |  | 23.27 |
Nonvested shares outstanding, September 30, 2018 | 1,005,813 |  |  | $ | 29.89 |
| Number of Shares |  |  | Weighted Average Fair Value At Grant |
| (Dollars in Thousands, Except Share and Per Share Data)
Nonvested shares outstanding, September 30, 2016 | 61,968 |  |  | $ | 13.79 |
Granted | 949,812 |  |  | 29.16 |
Vested | (87,405 | ) |  | 21.41 |
Forfeited or expired | (10,797 | ) |  | 18.80 |
Nonvested shares outstanding, September 30, 2017 | 913,578 |  |  | $ | 28.99 |

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration