XML 16 R2.htm IDEA: XBRL DOCUMENT v3.25.3
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

 

In accordance with SEC rules applicable to smaller reporting companies, the following table sets forth information with respect to how “compensation actually paid” (“CAP”) to our principal executive officer (“PEO”) and other named executive officers (“NEOs”) aligns with company performance. CAP is an SEC‑defined term that does not necessarily reflect the amounts realized by our NEOs. For information regarding the Company’s compensation philosophy and how the Company aligns executive compensation with its financial and operational performance, refer to the Compensation Discussion and Analysis section.

 

Fiscal

Year(1)

 

Summary

Compensation

Table Total for

PEO
($)

   

Compensation

Actually Paid to

PEO(2)
($)

   

Average

Summary

Compensation

Table Total for

Non-PEO NEOs
($)

   

Average

Compensation

Actually Paid

to Non-PEO

NEOs(2)
($)

   

Value of Initial

Fixed $100

Investment Based

on Company Total

Shareholder

Return(3)
($)

   

Net Income
($ in thousands)

 

2025

    1,600,979       1,671,139       1,195,399       1,252,741     $ 146.40     $ 9,960  

2024

    1,058,774       1,132,767       1,114,942       1,175,417     $ 132.59     $ 7,097  

2023

    852,303       740,713       895,942       805,012     $ 82.39     $ 4,771  

 

(1)

For fiscal years 2025 and 2024 in the above table, the principal executive officer is   and the other NEOs are Neil J. Hennessy and Kathryn R. Fahy. For fiscal year 2023 in the above table, the principal executive officer is Teresa M. Nilsen and the other NEOs are Neil J. Hennessy, Kathryn R. Fahy, and Daniel B. Steadman.

(2)

In accordance with SEC rules, the adjustments shown in the table below were made to the Summary Compensation Table values to determine CAP. For the CAP portions that are calculated based on the fair market value of our common stock, the following prices were used: $6.66 as of September 30, 2023, $9.95 as of September 30, 2024, and $10.45 as of September 30, 2025. All amounts shown for non-PEO NEOs are averages.

   
PEO Total Compensation Amount $ 1,600,979 $ 1,058,774 $ 852,303
PEO Actually Paid Compensation Amount $ 1,671,139 1,132,767 740,713
Adjustment To PEO Compensation, Footnote

Fiscal

Year

 

Executive

 

Summary

Compensation

Table Total

Compensation
($)

   

Minus

Summary

Compensation

Table Stock

Awards Total

($)

   

Plus

Year-End Fair

Value of

Unvested

Current Year

Equity Awards 
($)

   

Plus

Change in Fair

Value as of

Year End of

Unvested Prior

Year Equity

Awards
($)

   

Plus

Change in Fair

Value as of

Vesting Date of

Prior Year

Equity Awards

Vested in

Current Year
($)

   

Equals

Compensation

Actually Paid
($)

 

2025

 

PEO

    1,600,979       (218,276 )     205,865       44,863       37,708       1,671,139  
   

Non-PEO NEOs

    1,195,399       (178,388 )     168,245       36,666       30,820       1,252,741  

2024

 

PEO

    1,058,774       (201,728 )     196,015       53,973       25,733       1,132,767  
   

Non-PEO NEOs

    1,114,942       (164,864 )     160,195       44,112       21,032       1,175,417  

2023

 

PEO

    852,303       (133,763 )     131,202       (65,126 )     (43,903 )     740,713  
   

Non-PEO NEOs

    895,942       (94,155 )     92,352       (53,238 )     (35,889 )     805,012  

 

(3)

Cumulative total shareholder return of the Company assuming an initial investment of $100 on September 30, 2022, and reinvestment of dividends.

 

   
Non-PEO NEO Average Total Compensation Amount $ 1,195,399 1,114,942 895,942
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,252,741 1,175,417 805,012
Compensation Actually Paid vs. Total Shareholder Return
pvp02.jpg

 

   
Compensation Actually Paid vs. Net Income

In accordance with SEC rules, the following charts show the relationship between CAP and the Company’s financial performance as measured by cumulative total shareholder return and net income.

 

compvsnetinc.jpg

 

   
Total Shareholder Return Amount $ 146.4 132.59 82.39
Net Income (Loss) 9,960,000 7,097,000 4,771,000
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (218,276) (201,728) (133,763)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 205,865 196,015 131,202
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 44,863 53,973 (65,126)
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 37,708 25,733 (43,903)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (178,388) (164,864) (94,155)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 168,245 160,195 92,352
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 36,666 44,112 (53,238)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 30,820 $ 21,032 $ (35,889)