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Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Expenses

The following table presents share-based compensation expenses included in the Company’s Consolidated Statements of Operations:

 

 

Years Ended September 30

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In millions)

 

Cost of sales

 

$

2

 

 

$

2

 

 

$

2

 

Selling and administrative expenses

 

 

20

 

 

 

21

 

 

 

16

 

Research and technical expenses

 

 

2

 

 

 

2

 

 

 

2

 

Share-based compensation expense

 

 

24

 

 

 

25

 

 

 

20

 

Income tax benefit

 

 

(2

)

 

 

(2

)

 

 

(2

)

Net share-based compensation expense

 

$

22

 

 

$

23

 

 

$

18

 
Equity Incentive Plan Activity

The following table summarizes the total stock option and restricted stock unit activity in the equity incentive plans for fiscal 2025:

 

 

 

Stock Options

 

 

Restricted Stock Units

 

 

 

Total
Options (1)

 

 

Weighted
Average
Exercise
Price

 

 

Restricted
Stock
Units(4)

 

 

Weighted
Average
Grant Date
Fair Value

 

 

 

(Shares in thousands)

 

Outstanding at September 30, 2024

 

 

1,384

 

 

$

56.65

 

 

 

723

 

 

$

70.25

 

Granted

 

 

108

 

 

$

114.99

 

 

 

166

 

 

$

110.67

 

Performance-based adjustment(2)

 

 

—

 

 

$

—

 

 

 

20

 

 

$

78.68

 

Exercised / Vested

 

 

(171

)

 

$

52.21

 

 

 

(292

)

 

$

59.95

 

Cancelled / Forfeited

 

 

(6

)

 

$

74.21

 

 

 

(26

)

 

$

81.01

 

Outstanding at September 30, 2025(3)

 

 

1,315

 

 

$

61.96

 

 

 

591

 

 

$

86.48

 

Exercisable at September 30, 2025

 

 

1,032

 

 

$

54.30

 

 

 

 

 

 

 

 

(1)
Unvested stock options were approximately 283,000 and 373,000 at September 30, 2025 and 2024 and their weighted average grant date fair values were $89.84 and $70.24, respectively.
(2)
Represents the net incremental number of shares issuable upon vesting of performance-based restricted stock units based on the Company’s actual financial performance metrics for fiscal 2025.
(3)
Stock options outstanding include options vested and expected to vest in the future and have a weighted average remaining contractual life of 5.48 years.
(4)
The number granted represents the number of shares issuable upon vesting of time-based restricted stock units and performance-based restricted stock units, assuming the Company performs at the target performance level in each year of the three-year performance period.
Weighted-Average Assumptions The fair values on the grant date were calculated using the following weighted-average assumptions:

 

 

Years Ended September 30

 

 

 

2025

 

 

2024

 

 

2023

 

Expected stock price volatility

 

 

40

%

 

 

39

%

 

 

38

%

Risk free interest rate

 

 

4.4

%

 

 

4.8

%

 

 

4.0

%

Expected life of options (years)

 

 

6

 

 

 

6

 

 

 

6

 

Expected annual dividends per year

 

$

1.72

 

 

$

1.60

 

 

$

1.48