8. Common Stock and Stock-Based Awards

2002 Stock Plan

We had a 2002 Stock Plan (the “2002 Plan”) to provide our directors, executives and other key employees with additional incentives by allowing them to acquire an ownership interest in us and, as a result, encouraging them to contribute to our success. All options that were granted under this plan have been exercised and there are no additional shares available for issuance under the 2002 Plan.

2005 Stock Plan

We have a 2005 Stock-Based Award and Incentive Compensation Plan (the “2005 Plan”), under which we may offer restricted 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. At September 30, 2013 and 2012 we had 815,260 and 865,917 shares, respectively, of our common stock available for issuance under the 2005 Plan.

The 2005 Plan permits us to grant stock options (both incentive stock options and non‑qualified stock options), restricted 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 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.

A summary of common stock options activity under the 2002 and 2005 Plans is as follows:



	2013			2012				2011
		Weighted				Weighted				Weighted
	Number	average		Number		average		Number		average
	of	exercise		of		exercise		of		exercise
	Shares	price		Shares		price		Shares		price
Outstanding at beginning of year	22,360	$	17.53		37,385	$	14.73		139,550	$	4.65
Exercised	(6,186)		17.43		(14,769)		10.44		(102,128)		0.96
Cancelled or expired	(136)		17.00		(256)		17.00		(37)		17.00
Outstanding at end of year	16,038	$	17.58		22,360	$	17.53		37,385	$	14.73
Exercisable at end of year	16,038	$	17.58		22,360	$	17.53		37,385	$	14.73



	Outstanding and exercisable options
			Weighted
			average
			remaining	Weighted
			contractual	average
		Number of	life	exercise
Range of exercise prices		Shares	(in years)	price
$17.00 - $19.99		14,248	1.8	$	17.00
$20.00 - $22.60		1,790	2.0	$	22.17

The intrinsic value of the shares outstanding and exercisable was $2,114 as of September 30, 2013 and $1,993 as of September 30, 2012. The total intrinsic value of options exercised during the years ended September 30, 2013, 2012 and 2011 was $644, $1,105, and $6,548, respectively.

A summary of restricted stock awards activity under the 2005 Plan is as follows:



	2013			2012				2011
		Weighted				Weighted				Weighted
	Number	average		Number		average		Number		average
	of	grant date		of		grant date		of		grant date
	Shares	fair value		Shares		fair value		Shares		fair value
Nonvested at beginning of year	129,396	$	69.94		105,540	$	61.69		70,584	$	49.33
Granted	70,575		145.65		74,848		101.97		63,900		71.14
Vested	(44,547)		144.52		(48,072)		102.09		(25,934)		52.46
Forfeitures	(13,180)		80.96		(2,920)		63.49		(3,010)		51.92
Nonvested at end of year	142,244	$	83.13		129,396	$	69.94		105,540	$	61.69

As of September 30, 2013, total unrecognized stock based compensation expense related to nonvested awards was approximately $15,911 before income taxes, which is expected to be recognized over the remaining term of the awards which range from 1 to 5 years. During the fiscal years ended September 30, 2013 and 2012, we recognized $3,553 and $3,569, respectively, in compensation expense related to common stock awards. The total fair value of shares vested during the years ended September 30, 2013, 2012, and 2011, was $6,438, $4,908, and $1,800, respectively.

2008 Employee Stock Purchase Plan

The 2008 Employee Stock Purchase Plan (the “ESPP”) 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 period, which begins 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. We issued 5,396 and 6,859 shares of our common stock under the ESPP during fiscal years ended September 30, 2013 and 2012, respectively.