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STOCK COMPENSATION
 6 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
STOCK COMPENSATION STOCK COMPENSATION
The Company maintains the Pathward Financial, Inc. 2002 Omnibus Incentive Plan, as amended and restated (the "2002 Omnibus Incentive Plan"), which, among other things, provides for the awarding of stock options, nonvested (restricted) shares, and performance share units ("PSUs") 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 nonvested (restricted) shares and performance share units granted under the Company’s 2002 Omnibus Incentive Plan is equal to the fair market value of the underlying stock at the grant date, adjusted for dividends where applicable. The Company has elected, with the adoption of ASU 2016-09, to record forfeitures as they occur.

The following tables show the activity of nonvested (restricted) shares and PSUs granted, vested, or forfeited under the 2002 Omnibus Incentive Plan for the six months ended March 31, 2023. There were no options granted, exercised, or forfeited under this plan during the six months ended March 31, 2023.
(Dollars in thousands, except per share data)Number of SharesWeighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2022
474,348 $36.52 
Granted160,881 38.95 
Vested(209,440)36.59 
Forfeited or expired(6,958)42.55 
Nonvested shares outstanding, March 31, 2023
418,831 $37.31 
Performance share units outstanding, September 30, 2022
96,689 $42.59 
Granted(1)
59,115 38.94 
Vested— — 
Forfeited or expired— — 
Performance share units outstanding, March 31, 2023
155,804 $41.20 
(1) The number of PSUs granted reflects the target number of PSUs able to be earned under a given award.

At March 31, 2023, stock-based compensation expense not yet recognized in income totaled $10.2 million, which is expected to be recognized over a weighted average remaining period of 1.53 years.