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Equity-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2023
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, 2023 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2022

 

 

541,000

 

 

$

14.40

 

Less: Redeemed

 

 

136,000

 

 

$

13.63

 

Less: Forfeited

 

 

192,000

 

 

$

14.66

 

Outstanding at September 30, 2023

 

 

213,000

 

 

$

14.66

 
Schedule of Restricted Stock Unit Activity

A summary of the Company’s restricted stock unit activity for the year ended September 30, 2023 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2022

 

 

2,285,000

 

 

$

12.73

 

Granted

 

 

2,485,000

 

 

$

7.33

 

Less: Vested

 

 

780,000

 

 

$

12.07

 

Less: Forfeited

 

 

969,000

 

 

$

10.05

 

Outstanding at September 30, 2023

 

 

3,021,000

 

 

$

9.32

 

 
Summary of Stock Options Activity

A summary of the Company’s stock option activity for the year ended September 30, 2023 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Purchase Price per Share

 

Outstanding at September 30, 2022

 

 

7,489,000

 

 

$

19.07

 

Less: Forfeited

 

 

3,040,000

 

 

$

19.08

 

Outstanding at September 30, 2023

 

 

4,449,000

 

 

$

19.06

 

Vested and exercisable at September 30, 2023

 

 

3,227,000

 

 

$

19.28

 

Expected to vest after September 30, 2023

 

 

1,222,000

 

 

$

18.48

 
Summary of Company's Performance Stock Unit Activity

A summary of the Company’s performance stock unit activity for the year ended September 30, 2023 is presented in the following table:

 

 

 

Shares

 

 

Weighted-Avg Distribution Price per Share

 

Outstanding at September 30, 2022

 

 

403,000

 

 

$

12.41

 

Granted

 

 

838,000

 

 

$

7.48

 

Less: Forfeited

 

 

729,000

 

 

$

10.20

 

Outstanding at September 30, 2023

 

 

512,000

 

 

$

7.48

 
Schedule of Weighted-Average Assumptions Used in Valuation of PSU Awards Subject to Market Condition and Stock Option Awards Granted The weighted-average assumptions used in the valuation of PSU awards subject to a market condition and stock option awards granted for the years ended September 30, 2022 and September 30, 2021 are presented in the table below:

 

 

 

Fiscal Year Ended

 

 

 

September 30,
2022

 

 

September 30,
2021

 

Assumptions:

 

 

 

 

 

 

Risk-free interest rate

 

 

1.88

%

 

 

0.49

%

Dividend yield

 

 

—

 

 

 

—

 

Volatility factor

 

 

47.10

%

 

 

54.40

%

Expected term (in years)

 

 

5.3

 

 

 

6.4