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Equity-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted stock award activity

A summary of the Company’s restricted stock award activity for the year ended September 30, 2022 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2021

 

 

802,000

 

 

$

14.31

 

Less: Redeemed

 

 

235,000

 

 

$

14.10

 

Less: Forfeited

 

 

26,000

 

 

$

14.31

 

Outstanding at September 30, 2022

 

 

541,000

 

 

$

14.40

 

Schedule of Restricted stock unit activity

A summary of the Company’s restricted stock unit activity for the year ended September 30, 2022 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2021

 

 

1,299,000

 

 

$

15.14

 

Granted

 

 

1,613,000

 

 

$

11.85

 

Less: Vested

 

 

428,000

 

 

$

15.33

 

Less: Forfeited

 

 

199,000

 

 

$

15.34

 

Outstanding at September 30, 2022

 

 

2,285,000

 

 

$

12.73

 

Summary of Stock Options Activity

A summary of the Company’s stock option activity for the year ended September 30, 2022 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Purchase Price per Share

 

Outstanding at September 30, 2021

 

 

7,017,000

 

 

$

21.55

 

Granted

 

 

783,000

 

 

$

15.04

 

Less: Exercised

 

 

1,000

 

 

$

13.49

 

Less: Forfeited

 

 

310,000

 

 

$

18.04

 

Outstanding at September 30, 2022

 

 

7,489,000

 

 

$

19.07

 

Vested and exercisable at September 30, 2022

 

 

4,284,000

 

 

$

20.12

 

Expected to vest after September 30, 2022

 

 

3,205,000

 

 

$

17.67

 

Share-Based Payment Arrangement, Performance Shares, Activity [Table Text Block]

A summary of the Company’s performance stock unit activity for the year ended September 30, 2022 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2021

 

 

 

 

 

 

Granted

 

 

403,000

 

 

$

12.41

 

Less: Vested

 

 

 

 

 

 

Less: Forfeited

 

 

 

 

 

 

Outstanding at September 30, 2022

 

 

403,000

 

 

$

12.41

 

Schedule of Weighted-Average Assumptions Used in Valuation of Unit Awards, Restricted Stock Unit Awards Were Converted and Stock Option Awards Granted or Modified

The weighted-average assumptions used in the valuation of RSU awards, restricted stock into which such awards were converted, PSU awards and stock option awards granted or modified for the years ended September 30, 2022, September 30, 2021 and September 30, 2020 are presented in the table below:

 

 

 

Fiscal Year Ended

 

 

 

September 30,
2022

 

 

September 30,
2021

 

 

September 30,
2020

 

Assumptions:

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.88

%

 

 

0.49

%

 

 

1.56

%

Dividend yield

 

 

 

 

 

 

 

 

 

Volatility factor

 

 

47.10

%

 

 

54.40

%

 

 

43.51

%

Expected term (in years)

 

 

5.3

 

 

 

6.4

 

 

 

6.3