Stock-based Compensation (Tables)

12 Months Ended

Sep. 30, 2025

Schedule of status of nonvested shares and stock option activity

The following table represents a summary of the status of the Company’s RSAs:


Restricted Stock Awards	Shares	Weighted- Average Grant Date Fair Value
Outstanding at September 30, 2024	17,500	$	37.82

Vested during year 2025	(8,750)	37.82

Outstanding and expected to vest at 2025 (a)	8,750	$	37.82

a.The weighted average remaining contractual term is 0.3 years and the aggregate intrinsic value of RSAs expected to vest is $303.

The following table represents a summary of the Company’s stock option activity:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Vested and outstanding – September 30, 2024	38,000	$	33.74	2.3	—

Expired during year 2025	(1,500)	—		1.3	—
Vested and outstanding – September 30, 2025	36,500	$	33.74	1.3	33,580

On December 23, 2024, the Company granted market-based restricted stock units ("MRSUs") to one of its executives, which will be eligible to be earned if at any time prior to September 30, 2027, the average 30-day closing per share price of the Company’s Common Stock exceeds the applicable price per share thresholds set forth below:


Price Per Share Threshold						Number of MRSUs Earned
$35 per share						5,000
$40 per share						12,500
$45 per share						20,500

The assumptions used in the Monte Carlo simulation model to calculate the fair value of the Company’s MRSUs on the grant date are as follows:



Expected volatility of stock price	33.14		%
Risk-free interest rate	4.26		%
Expected term of awards (years)	2.77
Dividend yield	0.76		%
Grant date stock price	$	26.15


Market-based Restricted Stock Units	Shares	Weighted- Average Grant Date Fair Value
Outstanding at September 30, 2024	—	$	—
Granted	38,000	$	12.32


Outstanding at September 30, 2025 (a)	38,000	$	12.32

a.The weighted average remaining contractual term is 2.3 years and the aggregate intrinsic value of MRSUs expected to vest is $1,317.