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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Restricted stock transactions and outstanding | Restricted stock transactions and outstanding awards are summarized as follows:
| Years Ended September 30,
| 2015 |  | 2014 |  | 2013
| Awards |  | Weighted Average Grant Date Fair Value |  | Awards |  | Weighted Average Grant Date Fair Value |  | Awards |  | Weighted Average Grant Date Fair Value
Beginning Outstanding | 35,203 |  |  | $ | 10.13 |  |  | 69,154 |  |  | $ | 10.13 |  |  | 127,975 |  |  | $ | 9.06 |
Awarded | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Released | (21,663 | ) |  | 11.47 |  |  | (33,951 | ) |  | 10.13 |  |  | (58,771 | ) |  | 7.81 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | (50 | ) |  | 7.98 |
Ending Outstanding | 13,540 |  |  | $ | 7.98 |  |  | 35,203 |  |  | $ | 10.13 |  |  | 69,154 |  |  | $ | 10.13 |
Stock-based compensation plans | Stock-based compensation expense for the fiscal years ended September 30, 2015, 2014 and 2013 reduced the Company’s results of operations as follows:
| Years Ended September 30,
| 2015 |  | 2014 |  | 2013
| (dollars in thousands)
Effect on income before income taxes (1) | $ | (1,162 | ) |  | $ | (795 | ) |  | $ | (2,472 | )
Effect on income taxes | $ | 221 |  |  | $ | 326 |  |  | $ | 512 |
Effect on net income | $ | (941 | ) |  | $ | (469 | ) |  | $ | (1,960 | )
(1) Stock-based compensation expense is included in selling, general and administrative expense Stock-based compensation plans are summarized in the table below:
Name of Plan |  | Shares Authorized |  | Shares Available |  | Options Outstanding |  | Plan Expiration
2007 Employee Stock Incentive Plan |  | 3,000,000 |  |  | 916,038 |  |  | 1,425,297 |  |  | Mar. 2020
1998 Employee Stock Option Plan |  | 500,000 |  |  | — |  |  | 23,710 |  |  | Jan. 2008
Non-Employee Directors Stock Option Plan |  | 500,000 |  |  | 167,600 |  |  | 178,470 |  |  | Mar. 2020
|  |  |  |  | 1,083,638 |  |  | 1,627,477 |  |  |
Stock option transactions and the options outstanding | Stock option transactions and the options outstanding are summarized as follows:
| Years Ended September 30,
| 2015 |  | 2014 |  | 2013
| Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
Outstanding at beginning of period | 1,063,324 |  |  | $ | 7.37 |  |  | 1,059,567 |  |  | $ | 6.71 |  |  | 891,293 |  |  | $ | 9.37 |
Granted | 327,500 |  |  | 9.74 |  |  | 272,906 |  |  | 7.01 |  |  | 312,850 |  |  | 2.95 |
Assumed - merger | 367,229 |  |  | 14.19 |  |  | — |  |  |  |  | — |  |  |
Exercised | (94,701 | ) |  | 5.52 |  |  | (263,643 | ) |  | 4.31 |  |  | (8,450 | ) |  | 3.08 |
Forfeited/canceled | (35,875 | ) |  | 24.71 |  |  | (5,506 | ) |  | 9.63 |  |  | (136,126 | ) |  | 15.75 |
Outstanding at end of period | 1,627,477 |  |  | $ | 9.11 |  |  | 1,063,324 |  |  | $ | 7.37 |  |  | 1,059,567 |  |  | $ | 6.71 |
Exercisable at end of period | 1,002,421 |  |  | $ | 9.74 |  |  | 674,237 |  |  | $ | 8.18 |  |  | 874,591 |  |  | $ | 7.13 |
Weighted average grant-date fair value of options granted during the period | $ | 5.91 |  |  |  |  | $ | 4.38 |  |  |  |  | $ | 1.82 |  |  |
Stock options outstanding and exercisable | The following tables summarize information for stock options outstanding and exercisable as of September 30, 2015:
|  | Options Outstanding
Range of Exercise Prices |  | Number Outstanding |  | Remaining Contractual Life |  | Average Exercise Price |  | Aggregate Intrinsic Value
|  |  |  | (in years) |  |  |  | (in thousands)
2.95-3.30 |  | 165,310 |  |  | 7.1 |  | $ | 2.96 |  |  |
3.80-7.00 |  | 143,402 |  |  | 3.4 |  | 5.69 |  |  |
7.01-7.14 |  | 269,106 |  |  | 8.2 |  | 7.01 |  |  |
7.15-7.87 |  | 60,223 |  |  | 5.5 |  | 7.60 |  |  |
7.88-8.00 |  | 246,806 |  |  | 6.2 |  | 7.98 |  |  |
8.01-9.94 |  | 99,338 |  |  | 6.4 |  | 8.93 |  |  |
9.95-10.49 |  | 282,500 |  |  | 9.1 |  | 9.98 |  |  |
10.50-15.23 |  | 184,041 |  |  | 2.7 |  | 11.80 |  |  |
15.24-22.26 |  | 161,489 |  |  | 3.1 |  | 18.00 |  |  |
27.47-25.00 |  | 15,262 |  |  | 2.5 |  | 27.47 |  |  |
|  | 1,627,477 |  |  | 6.1 |  | $ | 9.11 |  |  | $ | 238 |
Vested and expected to vest as of September 30, 2015 |  | 1,624,545 |  |  | 6.1 |  | $ | 9.11 |  |  | $ | 238 |
|  | Options Exercisable
Range of Exercise Prices |  | Number Exercisable |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
|  |  |  |  |  | (in thousands)
2.95-3.30 |  | 99,968 |  |  | $ | 2.97 |  |  |
3.80-7.00 |  | 143,402 |  |  | 5.69 |  |  |
7.01-7.14 |  | 81,327 |  |  | 7.01 |  |  |
7.15-7.87 |  | 23,144 |  |  | 7.15 |  |  |
7.88-8.00 |  | 246,806 |  |  | 7.98 |  |  |
8.01-9.94 |  | 43,566 |  |  | 9.42 |  |  |
9.95-10.49 |  | 6,000 |  |  | 9.98 |  |  |
10.50-15.23 |  | 181,457 |  |  | 11.81 |  |  |
15.24-22.26 |  | 161,489 |  |  | 18.00 |  |  |
27.47-25.00 |  | 15,262 |  |  | 27.47 |  |  |
|  | 1,002,421 |  |  | 9.74 |  |  | $ | 150 |

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