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STOCK COMPENSATION
 9 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [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 nine months ended June 30, 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
(48,678
)
 
9.07

 
—

 
802

Forfeited or expired
(3,027
)
 
10.60

 
—

 
33

Options outstanding, June 30, 2019
104,256

 
$
8.14

 
1.22

 
$
2,075

 
 
 
 
 
 
 
 
Options exercisable, June 30, 2019
104,256

 
$
8.14

 
1.22

 
$
2,075



 
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
(352,218
)
 
26.77

Forfeited or expired
(2,679
)
 
26.14

Nonvested (restricted) shares outstanding, June 30, 2019
947,218

 
$
29.48

(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 June 30, 2019, stock-based compensation expense not yet recognized in income totaled $13.5 million, which is expected to be recognized over a weighted average remaining period of 3.09 years.