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Stock-based Compensation, Equity Grants, and Warrants (Tables)

9 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Stock-based compensation expense, shown in the table below, is recorded in general and administrative expenses included in our statements of operations:

									(in thousands)																		(in thousands)
									Three Months Ended																		Nine Months Ended
			Ref						June 30,																		June 30,
									2020						2019						2020						2019
DLH employees									$	95					$	67					$	306					$	196
Non-employee directors			(a)						87						132						260						395
Total stock option expense									$	182					$	199					$	566					$	591

Ref (a): Equity grants of restricted stock units, in accordance with DLH compensation policy for non-employee directors were made in the first quarter of fiscal 2020 and in total 77,500 restricted stock units were issued and outstanding.

Unrecognized stock-based compensation expense

									(in thousands)
									June 30,
			Ref						2020
Unrecognized expense for DLH employees			(a)						$	1,007
Unrecognized expense for non-employee directors									87
Total unrecognized expense									$	1,094

Ref (a): Compensation expense for the portion of equity awards for which the requisite service has not been rendered is recognized as the requisite service is rendered. The compensation expense for that portion of awards has been based on the grant-date fair value of those awards as calculated for recognition purposes under applicable guidance. On a weighted average basis, this expense is expected to be recognized within the next 3.82 years.

Schedule of Stock Option Activity

The aggregate intrinsic value in the table below represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of the period and the exercise price, times the number of shares) that would have been received by the option holders had all option holders exercised their in the money options on those dates. This amount will change based on the fair market value of the Company’s stock.

																								(in years)
																								Weighted
																		Weighted						Average						(in thousands)
												(in thousands)						Average						Remaining						Aggregate
												Number of						Exercise						Contractual						Intrinsic
									Ref			Shares						Price						Term						Value
Options outstanding, September 30, 2019												2,134						$	4.36					5.9						$	4,815
Granted									(a)			250						$	4.17					—						—
Exercised												(345)						$	1.05					—						—
Cancelled												(160)						$	1.29					—						—
Options outstanding, June 30, 2020												1,879						$	4.60					6.5						$	7,280

Ref (a): Utilizing a volatility of 50% along with assumptions of a 10-year term and the aforementioned 10-day stock price threshold results in an indicated range of value of the Options granted during the quarter ended December 31, 2019, as follows using the Monte Carlo Method.

Schedule of Fair Value Assumptions of Stock Options

																					Volatility
																					50%
												Vesting						Expected
						Strike			Stock			Threshold						Term			Calculated
Grant Date			Ref			Price			Price			Price						(Years)			Fair Value
October 18, 2019			(a)			$	4.17		$	4.17		Service						10			$	2.54
October 18, 2019						$	4.17		$	4.17		$	8.00					10			$	2.56
October 18, 2019						$	4.17		$	4.17		$	10.00					10			$	2.53
October 18, 2019						$	4.17		$	4.17		$	12.00					10			$	2.51
Notes:
Results based on 100,000 simulations

        Ref (a): Options granted vest after completion of a one year service period.

Schedule of Option Shares Outstanding, Vested and Expected to Vest

Stock options shares outstanding, vested and unvested for the period ended

									(in thousands)
									June 30,						September 30,
			Ref						2020						2019
Vested and exercisable			(a)						1,072						1,300
Unvested			(b)						807						834
Options outstanding									1,879						2,134

Ref (a): Weighted average exercise price of vested and exercisable shares was $1.61 and $1.51 at June 30, 2020 and September 30, 2019, respectively. Aggregate intrinsic value was approximately $5.9 million and $3.9 million at June 30, 2020 and September 30, 2019, respectively. Weighted average contractual term remaining was 3.2 and 3.8 years at June 30, 2020 and September 30, 2019, respectively.

Ref (b): Certain awards vest upon satisfaction of certain performance criteria.

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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