XML 56 R41.htm IDEA: XBRL DOCUMENT
v3.20.2

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of allocation of share-based compensation costs by plan |
| Fiscal Year Ended September 30,
in thousands | 2020 |  | 2019 |  | 2018
Stock options expense | $ | 133 |  |  | $ | 178 |  |  | $ | 225 |
Restricted stock awards expense | 9,903 |  |  | 10,348 |  |  | 10,033 |
Stock-based compensation expense | $ | 10,036 |  |  | $ | 10,526 |  |  | $ | 10,258 |
Schedule of assumptions for stock option activity | We used the following valuation assumptions for stock options granted for the periods presented:
| Fiscal Year Ended September 30,
| 2020 |  | 2019 |  | 2018
Expected life of options | 5.7 years |  | 5.0 years |  | 5.0 years
Expected volatility | 51.52 | % |  | 46.69 | % |  | 44.71 | %
Expected dividends | — |  |  | — |  |  | — |
Weighted-average risk-free interest rate | 0.43 | % |  | 2.70 | % |  | 2.10 | %
Weighted-average fair value | $ | 4.99 |  |  | $ | 4.50 |  |  | $ | 8.30 |
| Fiscal Year Ended September 30,
| 2020 |  | 2019 |  | 2018
Expected volatility | 21.2% - 54.8% |  | 21.0% - 57.1% |  | 21.1% - 61.2%
Risk-free interest rate | 1.61 | % |  | 2.92 | % |  | 1.81 | %
Dividend yield | — |  |  | — |  |  | — |
Grant-date stock price | $ | 15.62 |  |  | $ | 9.82 |  |  | $ | 20.50 |
Schedule of stock options and SSARs outstanding | Following is a summary of stock option activity for the periods presented is as follows:
| 2020 |  | 2019 |  | 2018
| Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of period | 523,754 |  |  | $ | 14.34 |  |  | 533,052 |  |  | $ | 14.26 |  |  | 593,753 |  |  | $ | 14.76 |
Granted | 950 |  |  | 10.67 |  |  | 30,782 |  |  | 10.23 |  |  | 25,230 |  |  | 19.99 |
Exercised | (128,921) |  |  | 11.01 |  |  | (31,450) |  |  | 10.00 |  |  | (8,411) |  |  | 7.52 |
Expired | — |  |  | — |  |  | — |  |  | — |  |  | (61,967) |  |  | 23.19 |
Forfeited | (3,318) |  |  | 9.55 |  |  | (8,630) |  |  | 10.45 |  |  | (15,553) |  |  | 10.46 |
Outstanding at end of period | 392,465 |  |  | $ | 15.47 |  |  | 523,754 |  |  | $ | 14.34 |  |  | 533,052 |  |  | $ | 14.26 |
Exercisable at end of period | 354,796 |  |  | $ | 15.90 |  |  | 470,501 |  |  | $ | 14.42 |  |  | 479,538 |  |  | $ | 14.03 |
Vested or expected to vest in the future | 391,968 |  |  | $ | 15.48 |  |  | 521,362 |  |  | $ | 14.36 |  |  | 533,052 |  |  | $ | 14.26 |
Schedule of stock options and SSARS outstanding and exercisable | The following table summarizes information about stock options outstanding and exercisable as of September 30, 2020:
| Stock Options Outstanding |  | Stock Options Exercisable
Range of Exercise Price | Number Outstanding |  | Weighted-Average Contractual Remaining Life (Years) |  | Weighted-Average Exercise Price |  | Number Exercisable |  | Weighted-Average Contractual Remaining Life (Years) |  | Weighted-Average Exercise Price
$1 - $10 | 37,433 |  |  | 4.7 |  | $ | 8.48 |  |  | 22,571 |  |  | 3.6 |  | $ | 7.52 |
$11 - $15 | 181,990 |  |  | 1.5 |  | 13.27 |  |  | 174,970 |  |  | 1.3 |  | 13.34 |
$16 -$20 | 173,042 |  |  | 1.7 |  | 19.30 |  |  | 165,148 |  |  | 1.5 |  | 19.25 |
$1 - $20 | 392,465 |  |  | 1.9 |  | $ | 15.47 |  |  | 362,689 |  |  | 1.5 |  | $ | 15.67 |
Schedule of stock options exercised and vested | Information pertaining to the intrinsic value of options exercised and the fair market value of options that vested is below:
| Fiscal Year Ended September 30,
in thousands | 2020 |  | 2019 |  | 2018
Intrinsic value of options exercised | $ | 587 |  |  | $ | 90 |  |  | $ | 76 |
Fair market value of options vested | 144 |  |  | 178 |  |  | 296 |
Schedule of nonvested stock awards and performance shares | Activity relating to all restricted stock awards for the periods presented is as follows:
| Year Ended September 30, 2020
| Performance-Based |  | Time-Based |  | Total
| Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
Beginning of period | 778,814 |  |  | $ | 13.60 |  |  | 611,607 |  |  | $ | 12.11 |  |  | 1,390,421 |  |  | $ | 16.53 |
Granted | 260,131 |  |  | 16.98 |  |  | 327,571 |  |  | 15.29 |  |  | 587,702 |  |  | 16.04 |
Vested | (242,921) |  |  | 13.60 |  |  | (302,255) |  |  | 11.89 |  |  | (545,176) |  |  | 12.65 |
Forfeited | — |  |  | — |  |  | (26,793) |  |  | 13.79 |  |  | (26,793) |  |  | 13.79 |
End of period | 796,024 |  |  | $ | 14.71 |  |  | 610,130 |  |  | $ | 13.85 |  |  | 1,406,154 |  |  | $ | 14.34 |
| Year Ended September 30, 2019
| Performance-Based |  | Time-Based |  | Total
| Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
Beginning of period | 644,785 |  |  | $ | 16.47 |  |  | 431,783 |  |  | $ | 16.60 |  |  | 1,076,568 |  |  | $ | 16.53 |
Granted (a) | 467,819 |  |  | 9.95 |  |  | 448,657 |  |  | 9.82 |  |  | 916,476 |  |  | 9.89 |
Vested (a) | (321,833) |  |  | 15.36 |  |  | (212,558) |  |  | 16.41 |  |  | (534,391) |  |  | 15.78 |
Forfeited | (11,957) |  |  | 13.44 |  |  | (56,275) |  |  | 12.20 |  |  | (68,232) |  |  | 12.42 |
End of period | 778,814 |  |  | $ | 13.60 |  |  | 611,607 |  |  | $ | 12.11 |  |  | 1,390,421 |  |  | $ | 16.53 |
(a) Grant and vesting activity during the twelve months ended September 30, 2019 include 86,050 shares that were issued above target based on performance level achieved under performance-based restricted stock vesting in the current period.
| Year Ended September 30, 2018
| Performance-Based |  | Time-Based |  | Total
| Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
Beginning of period | 668,766 |  |  | $ | 15.72 |  |  | 872,181 |  |  | $ | 16.47 |  |  | 1,540,947 |  |  | $ | 16.15 |
Granted | 165,085 |  |  | 22.40 |  |  | 277,165 |  |  | 18.98 |  |  | 442,250 |  |  | 20.26 |
Vested | — |  |  | — |  |  | (690,922) |  |  | 17.38 |  |  | (690,922) |  |  | 17.38 |
Forfeited | (189,066) |  |  | 18.98 |  |  | (26,641) |  |  | 17.02 |  |  | (215,707) |  |  | 18.74 |
End of period | 644,785 |  |  | $ | 16.47 |  |  | 431,783 |  |  | $ | 16.60 |  |  | 1,076,568 |  |  | $ | 16.53 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for exercisable or convertible options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration