Common Stock and Stock-Based Awards

3 Months Ended

Mar. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Disclosure Of Compensation Related Costs Share Based Payments [Text Block]

We have a 2005 Stock-Based Award and Incentive Compensation Plan (the “2005 Plan”), under which we may offer shares of our common stock and grant options to purchase shares of our common stock to selected employees and non-employee directors. The purpose of the 2005 Plan is to promote our long-term financial success by attracting, retaining and rewarding eligible participants. As of March 31, 2013 and September 30, 2012, we had 860,237and 865,917 shares, respectively, of our common stock available for issuance under the 2005 Plan. As of March 31, 2013, 16,854 options to purchase common stock were outstanding with a weighted average exercise price of $17.55 per share and expiring through September 2015.

The 2005 Plan permits us to grant stock options (both incentive stock options and non-qualified stock options), restricted and unrestricted stock and deferred stock. The compensation committee will determine the number and type of stock-based awards to each participant, the exercise price of each award, the duration of the award (not to exceed ten years), vesting provisions and all other terms and conditions of such award in individual award agreements. The 2005 Plan provides that upon termination of employment with us, unless determined otherwise by the compensation committee at the time options are granted, the exercise period for vested awards will generally be limited, provided that vested awards will be canceled immediately upon a termination for cause or voluntary termination. The 2005 Plan provides for the cancellation of all unvested awards upon termination of employment with us, unless determined otherwise by the compensation committee at the time awards are granted.

We did not grant common stock options during each of the six months ended March 31, 2013 and 2012. During the six months ended March 31, 2013 and 2012, we issued 3,100 and 5,750 shares of restricted stock under the 2005 Plan. We also granted 6,000 and 0 shares of unrestricted stock to non-employee directors during the six months ended March 31, 2013 and 2012, respectively. During the three months ended March 31, 2013 and 2012, we recognized $1,465 and $427 of compensation expense related to stock grants, respectively. During the six months ended March 31, 2013 and 2012, we recognized $2,192 and $868 of compensation expense related to stock grants, respectively.

We also have an employee stock purchase plan (“ESPP”) that allows substantially all employees to purchase shares of our common stock at 95% of the fair market value on the date of purchase. The purchase date is the last trading date of the purchase periods, which begin in March, June, September and December. Employees accumulate amounts through payroll deductions during the purchase period of between 1% and 10% but no more than $20 annually. An employee is allowed to purchase a maximum of 200 shares per purchase period. During the six months ended March 31, 2013 and 2012, we issued 2,750 and 3,520 shares, respectively, of our common stock under the ESPP.