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Compensation Related Costs, Postemployment Benefits | 12 Months Ended
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Sep. 30, 2024
Compensation Related Costs [Abstract] |
Share-based Payment Arrangement | Employee Benefit Plans Retirement Plans The Company has a 401(k) plan for all employees who have been with the Company for a period of six months or more. The Company matches portions of employees’ voluntary contributions. Additional employer contributions in the form of profit sharing may also be made at the Company’s discretion. The Company recorded expense of $1.1 million, $1.0 million and $0.8 million for matching contributions in fiscal 2024, 2023 and 2022, respectively, which is included in selling, general and administrative expense in the Company's consolidated statements of operations. Employee Stock Purchase Plan In October 2022, the Company’s Board of Directors adopted and, in January 2023, the Company’s shareholders approved the 2022 Employee Stock Purchase Plan ("ESPP"). The ESPP allows eligible employees the opportunity to purchase common stock of the Company at a discount at 6-month intervals through accumulated payroll deductions. Eligible employees purchase common stock of the Company during a purchase period at a discounted price of 85% of the fair market value of the stock on the designated dates of purchase. The price to eligible employees may be further discounted depending on the average fair market value of the stock during the period and certain other criteria. Under the terms of the plan, the total fair market value of common stock that an eligible employee may purchase each year is limited to the lesser of 15% of the employee’s annual compensation or $25,000. Under the plan, employees purchased 6,941 shares for $0.2 million in fiscal 2024. No shares were purchased under the ESPP in fiscal 2023. The aggregate number of shares of the Company's stock reserved for issuance under the plan is 2.5 million. Restricted Stock Units (RSUs) The Company’s Stock Incentive Plan provides for the granting of stock options and restricted stock units to executive officers, other key employees and non-management directors. Restricted stock unit awards may be based on performance (performance-based) or on service over a requisite time period (time-based). RSU equity awards represent the contingent right to receive one share of the Company’s common stock per RSU if the vesting conditions and/or performance criteria are satisfied and have no voting rights during the vesting period. During fiscal 2024, 2023 and 2022, the Company granted time-based RSUs that vest annually in equal installments over periods of three to five years. The following table provides additional information related to time-based RSU activity during those periods.
| Year Ended September 30,
| 2024 |  | 2023 |  | 2022
| Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Outstanding at beginning of year | 885,094 |  |  | $ | 16.63 |  |  | 621,951 |  |  | $ | 18.94 |  |  | 387,154 |  |  | $ | 20.70 |
Granted | 178,035 |  |  | 37.94 |  |  | 511,698 |  |  | 14.76 |  |  | 394,786 |  |  | 17.76 |
Vested | (293,253) |  |  | 17.07 |  |  | (186,812) |  |  | 18.88 |  |  | (123,389) |  |  | 19.98 |
Cancelled | (54,001) |  |  | 18.18 |  |  | (61,743) |  |  | 17.63 |  |  | (36,600) |  |  | 19.98 |
Outstanding at end of year | 715,875 |  |  | $ | 21.63 |  |  | 885,094 |  |  | $ | 16.63 |  |  | 621,951 |  |  | $ | 18.94 |
The total fair value of shares vested on the vesting date was $10.5 million, $3.5 million and $2.5 million during fiscal 2024, 2023 and 2022, respectively. Total stock-based compensation expense related to the Company's restricted stock units for fiscal 2024, 2023 and 2022 was $5.3 million, $4.3 million and $3.3 million, respectively. These expenses are included in selling, general and administrative expense in the Company's consolidated statements of operations. At September 30, 2024, there was $10.6 million of unrecognized compensation expense related to unvested time-based RSU awards. This expense is expected to be recognized over a weighted average period of 2.5 years.

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