XML 35 R22.htm IDEA: XBRL DOCUMENT
v3.21.2

Stockholders' Equity | 12 Months Ended
--- | ---
Sep. 30, 2021
Stockholders Equity Note [Abstract] |
Stockholders' Equity | 15. Stockholders’ Equity In February 2014, the board of directors and stockholders approved the 2014 Long Term Incentive Plan, as amended (the “2014 Plan”). In February 2021, board of directors and stockholders approved an amendment which increased the aggregate amount of shares of common stock may be issued under the 2014 Plan from 1,500,000 to 3,000,000. The Company is authorized to issue nonqualified and incentive stock options to purchase common stock, restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) to key employees, directors and consultants under the 2014 Plan. Options have a term not to exceed ten years, with the exception of incentive stock options granted to employees owning ten percent or more of the outstanding shares of common stock, which have a term not to exceed five years. The exercise price of any option may not be less than the fair market value of the common stock on the date of grant. In the case of incentive stock options granted to an employee owning ten percent or more of the outstanding shares of common stock, the exercise price of such option may not be less than 110% of the fair market value of the common stock on the date of grant. An RSU represents a contingent right to receive one share of the common stock upon vesting. Under the 2014 Plan, the Company may issue RSAs and RSUs to employees for no payment by the employee or for a payment below the fair market value on the date of grant. The RSAs and RSUs are subject to certain restrictions described in the 2014 Plan. At September 30, 2021, an aggregate of 1,653,236 shares of common stock were available for issuance under the 2014 Plan. The following table summarizes the combined activity under the equity incentive plans for the indicated periods:
|  | Number of Nonqualified Options Outstanding |  |  | Weighted Average Exercise Price per Share |  |  | Number of RSAs |  |  | Weighted Average Grant-date Fair Value per Share |  |  | Number of RSUs |  |  | Weighted Average Grant-date Fair Value per Unit |
Outstanding at October 1, 2019 |  |  | 165,600 |  |  | $ | 19.15 |  |  |  | 220,412 |  |  | $ | 16.50 |  |  |  | 137,290 |  |  | $ | 15.10 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 162,250 |  |  |  | 14.58 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | (74,500 | ) |  |  | 21.34 |  |  |  | (1,750 | ) |  |  | 17.55 |  |  |  | (39,560 | ) |  |  | 14.78 |
Vested |  |  | — |  |  |  | — |  |  |  | (108,288 | ) |  |  | 16.32 |  |  |  | (41,723 | ) |  |  | 14.81 |
Outstanding at September 30, 2020 |  |  | 91,100 |  |  |  | 17.66 |  |  |  | 110,374 |  |  |  | 16.66 |  |  |  | 218,257 |  |  |  | 14.82 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 195,950 |  |  |  | 7.00 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | (52,300 | ) |  |  | 16.47 |  |  |  | (2,500 | ) |  |  | 14.78 |  |  |  | (44,001 | ) |  |  | 7.14 |
Vested |  |  | — |  |  |  | — |  |  |  | (65,777 | ) |  |  | 17.28 |  |  |  | (70,832 | ) |  |  | 14.63 |
Outstanding at September 30, 2021 |  |  | 38,800 |  |  | $ | 21.42 |  |  |  | 42,097 |  |  | $ | 15.95 |  |  |  | 299,374 |  |  | $ | 10.87 |
During fiscal years 2021 and 2020, the Company issued 195,950 and 162,250 RSUs to certain of its employees, executive officers and directors under the 2014 Plan, as amended. The RSUs issued include both time-based and performance-based vesting provisions. The weighted average grant date fair value of each RSU issued for fiscal years 2021 and 2020 was $7.00 and $14.58 per unit, respectively. The total grant date fair value of all RSUs issued for fiscal years 2021 and 2020 was $1.4 million and $2.4 million, respectively, which will be charged to expense over the next one to four years as the restrictions lapse. Compensation expense for RSUs was determined based on the closing market price of the Company’s stock on the date of grant applied to the total number of units that are anticipated to fully vest. No RSAs have been issued since fiscal year 2019 All RSAs, RSUs and stock options outstanding at September 30, 2021 and 2020 were issued from the 2014 Plan. All stock options outstanding are nonqualified options. No nonqualified stock options were exercised during fiscal years 2021 and 2020. The following table summarizes information about stock options outstanding and exercisable at September 30, 2021:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Shares |  |  | Weighted Average Remaining Term (in years) |  |  | Weighted Average Exercise Price |  |  | Intrinsic Value |  |  | Shares |  |  | Weighted Average Remaining Term (in years) |  |  | Weighted Average Exercise Price |  |  | Intrinsic Value |
$21.42 |  |  | 38,800 |  |  |  | 5.1 |  |  |  | 21.42 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Stock-based compensation expense recognized for the fiscal years ended September 30, 2021 and 2020 was $2.0 million and $2.3 million, respectively. Company accounts for forfeitures as they occur and records compensation costs under the assumption that the holder will complete the requisite service period. As of September 30, 2021, the Company had unrecognized compensation expense of $0.2 million relating to RSAs which is expected to be recognized over a weighted average period of 0.5 years. As of September 30, 2021, the Company had unrecognized compensation expense of $2.2 million relating to RSUs which is expected to be recognized over a weighted average period of 2.3 years. The Company had no unrecognized compensation expense related to nonqualified stock option awards.

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

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration