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STOCK COMPENSATION
 6 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK COMPENSATION
STOCK COMPENSATION

The Company maintains the amended and restated Meta Financial Group, Inc. 2002 Omnibus Incentive Plan, as amended (the "2002 Omnibus Incentive Plan"), 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.

Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of the grant. The exercise price of options or fair value of non-vested (restricted) shares granted under the Company’s incentive plan is equal to the fair market value of the underlying stock at the grant date. The Company has elected, with the adoption of ASU 2016-09, to record forfeitures as they occur.

The following tables show the activity of options and nonvested (restricted) shares granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the six months ended March 31, 2019:
 
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (Yrs)
 
Aggregate Intrinsic Value
 
(Dollars in Thousands, Except Per Share Data (1))
Options outstanding, September 30, 2018
155,961

 
$
8.48

 
1.78

 
$
2,974

Granted
—

 
—

 
—

 
—

Exercised
(45,132
)
 
8.95

 
—

 
742

Forfeited or expired
(3,027
)
 
10.60

 
—

 
33

Options outstanding, March 31, 2019
107,802

 
$
8.23

 
1.47

 
$
1,235

 
 
 
 
 
 
 
 
Options exercisable, March 31, 2019
107,802

 
$
8.23

 
1.47

 
$
1,235



 
Number of Shares
 
Weighted Average Fair Value at Grant
(Dollars in Thousands, Except Per Share Data (1))
Nonvested (restricted) shares outstanding, September 30, 2018
1,005,813

 
$
29.89

Granted
296,302

 
24.84

Vested
(347,354
)
 
26.78

Forfeited or expired
(1,623
)
 
26.17

Nonvested (restricted) shares outstanding, March 31, 2019
953,138

 
$
29.46

(1) All share and per share data has been adjusted to reflect the 3-for-1 forward stock split effected by the Company on October 4, 2018.

At March 31, 2019, stock-based compensation expense not yet recognized in income totaled $15.8 million, which is expected to be recognized over a weighted average remaining period of 3.11 years.