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Stock-Based Compensation | 12 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Stock-Based Compensation | Note 14: Stock-Based Compensation From time to time, the Company grants stock options and restricted stock awards to directors, officers, and employees. These awards are valued at the grant date by determining the fair value of the instruments. The value of each award is amortized on a straight-line basis over the requisite service period. Stock Options The following table summarizes stock option activity for the years ended September 30, 2024 and 2023:
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Intrinsic Value
Outstanding at September 30, 2022 | 87,500 |  | $ | 18.81 |  |  | 1.78 |  | $ | 1,626 |
Granted | 17,500 |  | 35.00 |  |  |  |  |
Exercised | (31,250) |  | 14.64 |  |  |  |  |
Forfeited | (20,000) |  | 32.25 |  |  |  |  |
Outstanding at September 30, 2023 | 53,750 |  | $ | 21.51 |  |  | 1.54 |  | $ | 540 |
Exercisable at September 30, 2023 | 53,750 |  | $ | 21.51 |  |  | 1.54 |  | $ | 540 |
Outstanding at September 30, 2023 | 53,750 |  | $ | 21.51 |  |  | 1.54 |  | $ | 540 |
Granted | 17,500 |  | 40.00 |  |  |  |  |
Exercised | (6,250) |  | 15.00 |  |  |  |  |
Forfeited | (5,000) |  | 40.00 |  |  |  |  |
Outstanding at September 30, 2024 | 60,000 |  | $ | 26.04 |  |  | 1.29 |  | $ | 130 |
Exercisable at September 30, 2024 | 60,000 |  | $ | 26.04 |  |  | 1.29 |  | $ | 130 |
The Company recognized compensation expense of approximately $325,000 and $446,000 during the years ended September 30, 2024 and 2023, respectively, related to stock option awards granted to certain employees and officers based on the grant date fair value of the awards. No forfeitures are estimated. During the years ended September 30, 2024 and 2023, 17,500 and 17,500 stock options were granted, respectively. At September 30, 2024 the Company had no unrecognized compensation expense associated with stock option awards. The exercise price for stock options outstanding and exercisable at September 30, 2024 is as follows:
Outstanding |  | Exercisable
Number of Options |  | Exercise Price |  | Number of Options |  | Exercise Price
25,000 |  | $ | 10.00 |  |  | 25,000 |  | $ | 10.00 |
17,500 |  | 35.00 |  |  | 17,500 |  | 35.00 |
17,500 |  | 40.00 |  |  | 17,500 |  | 40.00 |
60,000 |  |  |  | 60,000 |  |
At September 30, 2024 and 2023, the Company had no non-vested stock option awards.

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