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Common Stock and Options (Tables) | 12 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Summary of status of nonvested shares and stock option activity | The following table represents a summary of the status of the Company’s non-vested shares:
Nonvested Shares |  | Shares |  |  | Weighted- Average Grant Date Fair Value |
Nonvested Shares at September 30, 2019 |  |  | 5,666 |  |  | $ | 44.26 |
Vested during fiscal year 2020 |  |  | (5,666 | ) |  |  | 44.26 |
Nonvested Shares at September 30, 2020 |  |  | — |  |  |  | — |
Granted during fiscal year 2021 |  |  | 5,885 |  |  |  | 31.20 |
Nonvested Shares at September 30, 2021 |  |  | 5,885 |  |  |  | 31.20 |
Granted during fiscal year 2022 |  |  | 30,227 |  |  |  | 37.82 |
Vested during fiscal year 2022 |  |  | (6,740 | ) |  |  | 31.75 |
Forfeited during fiscal year 2022 |  |  | (826 | ) |  |  | 36.86 |
Nonvested Shares at September 30, 2022 |  |  | 28,546 |  |  | $ | 37.82 |
The following table represents a summary of the Company’s stock option activity:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value |
Balance – September 30, 2020 |  |  | 293,000 |  |  | $ | 32.09 |  |  |  | 1.79 |  |  |  | — |
Forfeitures/expired during fiscal year 2021 |  |  | (75,000 | ) |  |  | 27.15 |  |  |  | — |  |  |  | — |
Balance – September 30, 2021 |  |  | 218,000 |  |  |  | 33.78 |  |  |  | 0.79 |  |  |  | — |
Exercised during fiscal year 2022 |  |  | (14,000 | ) |  |  | 33.80 |  |  |  |  |  |  |
Forfeitures/expired during fiscal year 2022 |  |  | (77,500 | ) |  |  | 33.80 |  |  |  | — |  |  |  | — |
Balance – September 30, 2022 |  |  | 126,500 |  |  | $ | 33.78 |  |  |  | 0.25 |  |  |  | — |
Schedule of stock options using valuation assumptions | The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from different timeframes for the various market conditions being met. 2020 Option Grant
Expected Volatility |  |  | 26.0 | %
Expected Term (in years) |  |  | 3.61 |
Risk Free Rate |  |  | 1.60 | %
The weighted-average grant-date fair value of the 2020 Option Grant was $3.20. 2019 Modified Option Grant
Expected Volatility |  |  | 25.0 | %
Expected Term (in years) |  | 1.50 |
Risk Free Rate |  |  | 2.52 | %
The weighted-average grant-date fair value of the 2019 Modified Option Grant was $1.40. 2019 Option Grants
Expected Volatility |  |  | 30.0 | %
Expected Term (in years) |  | 4.09 |
Risk Free Rate |  |  | 2.95 | %

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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