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STOCK COMPENSATION | 9 Months Ended
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Jun. 30, 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. No new awards are made under the 2002 Omnibus Incentive Plan following November 25, 2022, the date that the 2002 Omnibus Incentive Plan expired by its terms. 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 nine months ended June 30, 2023. There were no options granted, exercised, or forfeited under this plan during the nine months ended June 30, 2023.
| Number of Shares | Weighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2022 | 474,348 |  | $ | 36.52 |
Granted | 160,881 |  | 38.95 |
Vested | (209,440) |  | 36.59 |
Forfeited or expired | (33,293) |  | 48.90 |
Nonvested shares outstanding, June 30, 2023 | 392,496 |  | $ | 36.42 |
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, June 30, 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 June 30, 2023, stock-based compensation expense not yet recognized in income totaled $8.2 million, which is expected to be recognized over a weighted average remaining period of 1.45 years.

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