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Stock-based Compensation (Tables)
6 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of stock-based compensation expense Following is a summary of stock-based compensation expense related to stock options and restricted stock awards for the three and six months ended March 31, 2021 and 2020, respectively.
Three Months EndedSix Months Ended
March 31,March 31,
in thousands2021202020212020
Stock-based compensation expense$2,549 $899 $6,060 $3,210 
Schedule of stock options outstanding
Following is a summary of stock option activity for the six months ended March 31, 2021:
Six Months Ended
 March 31, 2021
 SharesWeighted Average
Exercise Price
Outstanding at beginning of period392,465 $15.47 
Exercised(167,435)13.03 
Outstanding at end of period225,030 $17.81 
Exercisable at end of period218,528 $18.05 
Schedule of nonvested stock awards activity
Following is a summary of restricted stock activity for the six months ended March 31, 2021:
Six Months Ended March 31, 2021
 Performance-Based Restricted SharesTime-Based Restricted SharesTotal Restricted Shares
Beginning of period796,024 610,130 1,406,154 
Granted (a)
164,296 246,550 410,846 
Vested (222,165)(278,411)(500,576)
Forfeited— (15,490)(15,490)
End of period738,155 562,779 1,300,934 
(a) Each of our performance-based restricted share represents a contingent right to receive one share of the Company's common stock if vesting is satisfied at the end of the three-year performance period. Our performance stock award plans provide that any performance shares earned in excess of the target number of performance shares issued may be settled in cash or additional shares at the discretion of the Compensation Committee. In November 2020, we issued 60,930 shares earned above target level based on the performance level achieved under the fiscal 2018 performance-based award plan.