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Equity-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Equity-Based Compensation Expense | A summary of equity-based compensation expense recognized during the years ended September 30, 2023, 2022 and 2021 is as follows:
| Year ended September 30,
| 2023 |  | 2022 |  | 2021
Stock options | $ | 24,276 |  |  | $ | 25,163 |  |  | $ | 20,860 |
Restricted stock units | 3,602 |  |  | 1,067 |  |  | — |
Equity-based compensation expense | $ | 27,878 |  |  | $ | 26,230 |  |  | $ | 20,860 |
Schedule of Fair Value of Stock Option Awards | The fair value of the stock option awards during the years ended September 30, 2023 and 2022 was determined on the grant date using the Black-Scholes valuation model based on the following weighted-average assumptions:
| September 30, 2023 |  | September 30, 2022
Expected volatility(1) | 54.9 | % |  | 55.7 | %
Expected dividend yield(2) | — | % |  | — | %
Expected term(3) | 6 years |  | 6 years
Risk-free interest rate(4) | 3.9 | % |  | 1.6 | %
_________________ 1.For the year ended September 30, 2023, expected volatility is based on the volatility of the Company's own share price. For the year ended September 30, 2022, expected volatility is based on the historical volatility of a selected peer group over a period equivalent to the expected term. 2.The Company has assumed a dividend yield of zero as management has no plans to declare dividends in the foreseeable future. 3.Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method as details of employee exercise behavior are limited due to limited historical data. 4.The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.
Schedule of Stock Option Activity | A summary of stock option activity for the year ended September 30, 2023 is as follows:
| Stock Options |  | Weighted Average Exercise Price
Outstanding at September 30, 2022 | 8,222,322 |  |  | $ | 25.07 |
Granted | 1,286,629 |  |  | 24.13 |
Exercised | (460,760) |  |  | 18.14 |
Forfeited | (471,521) |  |  | 27.69 |
Outstanding at September 30, 2023 | 8,576,670 |  |  | $ | 25.16 |
Exercisable at September 30, 2023 | 5,586,736 |  |  | $ | 24.79 |
Schedule of Restricted Stock Units | A summary of activity related to restricted stock units as of September 30, 2023 is as follows:
| Restricted Stock Units |  | Weighted Average Exercise Price
Outstanding at September 30, 2022 | 486,652 |  |  | $ | 24.93 |
Granted | 536,882 |  |  | 25.28 |
Vested | (67,854) |  |  | 26.34 |
Forfeited | (81,656) |  |  | 24.09 |
Outstanding at September 30, 2023 | 874,024 |  |  | $ | 24.95 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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