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Equity and Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Repurchase Plans | The following table summarizes information related to our stock repurchase plans, in thousands, except share and per share amounts:
Name of Stock Repurchase Plan | Date Approved by Board | Plan Term | Amount Authorized ($) |  | Amount Used for Repurchases ($) |  | Average Price Paid per Share ($) |  | Shares Repurchased (#) |  | Amount Available for Repurchases ($) |  | Plan Status | Fiscal Year of Repurchases |
2022 Stock Repurchase Plan | 2/10/2022 | 1 year |  | 5,000 |  |  | 1,400 |  | 9.78 |  |  | 143,430 |  |  | 3,600 |  | Open |  | 2022 |
2021 Stock Repurchase Plan | 2/9/2021 | 1 year |  | 4,000 |  |  | 2,700 |  | 9.31 |  |  | 291,383 |  |  | — |  | Expired |  | 2022 |
2020 Stock Repurchase Plan | 2/4/2020 | 1 year |  | 4,000 |  |  | 2,000 |  | 5.46 |  |  | 366,000 |  |  | — |  | Expired |  | 2020 |
2019 Stock Repurchase Plan | 11/29/2018 | 1 year |  | 4,000 |  |  | — |  |  | — |  |  | — |  |  | — |  | Expired | NA |
Summary of Equity Compensation Plans | Equity compensation plans as of September 30, 2022 are summarized in the table below:
Name of Plan |  | Shares Authorized |  |  | Shares Available for Grant |  |  | Options Outstanding |  |  | Plan Expiration
2022 Plan |  |  | 1,000,000 |  |  |  | 946,000 |  |  |  | 54,000 |  |  | Mar. 2032
2007 Plan |  |  | 3,000,000 |  |  |  | — |  |  |  | 397,341 |  |  | Mar. 2024
Non-Employee Directors Stock Option Plan |  |  | 500,000 |  |  |  | — |  |  |  | 138,000 |  |  | Mar. 2024
|  |  |  |  |  | 946,000 |  |  |  | 589,341 |  |  |
Schedule of Fair Value of Stock Option Using Black-Scholes Option Pricing Model | We estimated the fair value of stock option awards on the date of grant using the Black-Scholes option pricing model using the following assumptions:
|  | Years Ended September 30,
|  | 2022 |  | 2021 |  | 2020
Risk free interest rate |  | 2% |  | 1% |  | 1%
Expected life |  | 5 years |  | 6 years |  | 6 years
Dividend rate |  | 0% |  | 0% |  | 0%
Volatility |  | 57% |  | 58% |  | 58%
Summary of Stock Option Activity | The following table summarizes our stock option activity du ring 2022, 2021 and 2020:
|  | Years Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning of period |  |  | 608,269 |  |  | $ | 6.48 |  |  |  | 696,665 |  |  | $ | 7.00 |  |  |  | 1,068,665 |  |  | $ | 7.04 |
Granted |  |  | 135,500 |  |  | $ | 12.80 |  |  |  | 204,000 |  |  | $ | 6.25 |  |  |  | 32,500 |  |  | $ | 5.34 |
Exercised |  |  | (124,475 | ) |  | $ | 5.78 |  |  |  | (241,320 | ) |  | $ | 6.40 |  |  |  | (160,375 | ) |  | $ | 5.47 |
Forfeited/expired |  |  | (29,953 | ) |  | $ | 6.92 |  |  |  | (51,076 | ) |  | $ | 13.01 |  |  |  | (244,125 | ) |  | $ | 7.94 |
Outstanding at end of period |  |  | 589,341 |  |  | $ | 8.06 |  |  |  | 608,269 |  |  | $ | 6.48 |  |  |  | 696,665 |  |  | $ | 7.00 |
Exercisable at end of period |  |  | 358,343 |  |  | $ | 6.92 |  |  |  | 403,853 |  |  | $ | 6.87 |  |  |  | 611,542 |  |  | $ | 7.19 |
Weighted average grant-date fair value of options granted during the period |  | $ | 6.39 |  |  |  |  |  | $ | 3.33 |  |  |  |  |  | $ | 2.89 |  |  |  |
Summary of Stock Options Outstanding and Exercisable | The following table summarizes information for stock options outstanding and exercisable as of September 30, 2022:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number Outstanding |  |  | Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price Per Share |  |  | Number Exercisable |  |  | Weighted Average Exercise Price Per Share |
$2.95-$4.90 |  |  | 62,000 |  |  |  | 5.72 |  |  | $ | 4.64 |  |  |  | 62,000 |  |  | $ | 4.64 |
$5.07-$5.52 |  |  | 86,883 |  |  |  | 5.80 |  |  | $ | 5.38 |  |  |  | 66,717 |  |  | $ | 5.39 |
$5.67-$5.67 |  |  | 113,958 |  |  |  | 8.13 |  |  | $ | 5.67 |  |  |  | 38,626 |  |  | $ | 5.67 |
$5.75-$7.01 |  |  | 77,000 |  |  |  | 2.20 |  |  | $ | 6.70 |  |  |  | 77,000 |  |  | $ | 6.70 |
$7.40-$9.98 |  |  | 114,000 |  |  |  | 4.98 |  |  | $ | 8.75 |  |  |  | 84,000 |  |  | $ | 9.12 |
$9.99-$9.99 |  |  | 6,000 |  |  |  | 8.87 |  |  | $ | 9.99 |  |  |  | 6,000 |  |  | $ | 9.99 |
$10.22-$10.22 |  |  | 24,000 |  |  |  | 9.42 |  |  | $ | 10.22 |  |  |  | — |  |  |  | — |
$10.71-$10.71 |  |  | 6,000 |  |  |  | 2.52 |  |  | $ | 10.71 |  |  |  | 6,000 |  |  | $ | 10.71 |
$11.51-$11.51 |  |  | 18,000 |  |  |  | 8.48 |  |  | $ | 11.51 |  |  |  | 18,000 |  |  | $ | 11.51 |
$15.43-$15.43 |  |  | 81,500 |  |  |  | 9.13 |  |  | $ | 15.43 |  |  |  | — |  |  |  | — |
$2.95-$15.43 |  |  | 589,341 |  |  |  | 6.30 |  |  | $ | 8.06 |  |  |  | 358,343 |  |  | $ | 6.92 |

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