Equity and Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2017

Stock-based compensation plans as of September 30, 2017 are summarized in the table below:



Name of Plan	Shares Authorized	Shares Available	Options Outstanding	Plan Expiration
2007 Employee Stock Incentive Plan	3,000,000	686,032	1,342,391	Mar. 2020
1998 Employee Stock Option Plan	500,000	—	—	Jan. 2008
Non-Employee Directors Stock Option Plan	500,000	107,600	218,050	Mar. 2020
		793,632	1,560,441

We estimate the fair value of stock option awards on the date of grant using the Black-Scholes option pricing model using the following assumptions:

Stock option transactions and the options outstanding are summarized as follows:



	Years Ended September 30,
	2017					2016					2015
	Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at beginning of period	1,841,567			$	8.15	1,627,477			$	9.11	1,063,324			$	7.37
Granted	145,000			5.23		360,075			5.25		327,500			9.74
Assumed - merger	—					—			—		367,229			14.19
Exercised	(317,986		)	6.30		(15,346		)	3.28		(94,701		)	5.52
Forfeited/canceled	(108,140		)	12.71		(130,639		)	12.86		(35,875		)	24.71
Outstanding at end of period	1,560,441			$	7.95	1,841,567			$	8.15	1,627,477			$	9.11

Exercisable at end of period	1,055,865			$	8.58	1,127,611			$	8.92	1,002,421			$	9.74

Weighted average grant-date fair value of options granted during the period	$	3.04				$	3.03				$	5.91

The following tables summarize information for stock options outstanding and exercisable as of September 30, 2017:



	Options Outstanding
Range of Exercise Prices	Number Outstanding	Remaining Contractual Life	Average Exercise Price		Aggregate Intrinsic Value
		(in years)			(in thousands)
2.95-4.87	169,459	5.36	$	3.54
5.07-5.20	70,990	9.03	5.07
5.25-5.25	263,936	8.13	5.25
5.40-6.15	105,520	5.59	5.93
7.01-7.01	183,176	6.20	7.01
7.15-7.87	35,234	3.65	7.61
7.98-7.98	195,273	4.21	7.98
8.20-9.94	70,707	5.09	8.89
9.98-9.98	267,950	7.14	9.98
10.50-27.47	198,196	2.34	15.23
	1,560,441	5.84	$	7.95	$	7,060

Vested and expected to vest as of September 30, 2017	1,559,021	5.84	$	7.95	$	7,052



	Options Exercisable
Range of Exercise Prices	Number Exercisable	Weighted Average Exercise Price		Aggregate Intrinsic Value
				(in thousands)
2.95-4.87	132,793	$	3.18
5.07-5.20	990	5.20
5.25-5.25	74,604	5.25
5.40-6.15	90,520	5.96
7.01-7.01	131,950	7.01
7.15-7.87	25,132	7.51
7.98-7.98	195,273	7.98
8.20-9.94	53,207	9.12
9.98-9.98	155,200	9.98
10.50-27.47	196,196	15.28
	1,055,865	8.58		$	4,356