Stock-Based Employee Benefit Plans

3 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Employee Benefit Plans

Share-Based Employee Benefit Plans

We maintain the 2021 Long-Term Incentive Plan (the “2021 Plan”) under which we grant equity awards, including stock options, stock appreciation rights, restricted stock awards, stock unit awards and other share-based awards. All employees, consultants and advisors of FICO or any subsidiary, as well as all non-employee directors, are eligible to receive awards under the 2021 Plan. Stock option awards have a maximum term of ten years. In general, stock option awards and stock unit awards not subject to market or performance conditions vest annually over four years. Stock unit awards subject to market or performance conditions generally vest annually over three years based on the achievement of specified criteria.

We also maintain the 2019 Employee Stock Purchase Plan (the “2019 Purchase Plan”) under which we are authorized to issue up to 1,000,000 shares of our common stock to eligible employees. Eligible employees may elect to have up to 15% of their eligible pay withheld through payroll deductions to purchase FICO common stock during semi-annual offering periods. The purchase price of the stock is 85% of the closing sales price of FICO common stock on the last trading day of each offering period. Offering period means the approximately six-month periods commencing (a) on the first trading day on or after September 1 and terminating on the last trading day in the following February, and (b) on the first trading day on or after March 1 and terminating on the last trading day in the following August. No shares were purchased under the 2019 Purchase Plan during the quarter ended December 31, 2022.

Restricted Stock Units

The following table summarizes restricted stock unit activity during the quarter ended December 31, 2022:

	Shares	Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	415	$	398.07
Granted	149	610.04
Released	(146)	349.76
Forfeited	(18)	420.56
Outstanding at December 31, 2022	400	$	493.36

Performance Share Units

The following table summarizes performance share unit activity during the quarter ended December 31, 2022:

	Shares	Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	144	$	432.73
Granted	30	615.45
Released	(66)	428.90
Forfeited	(10)	436.82
Outstanding at December 31, 2022	98	$	490.75

Market Share Units

The following table summarizes market share unit activity during the quarter ended December 31, 2022:

	Shares	Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	92	$	586.91
Granted	58	733.42
Released	(69)	502.41
Forfeited	(7)	642.47
Outstanding at December 31, 2022	74	$	773.82

Stock Options

The following table summarizes option activity during the quarter ended December 31, 2022:

	Shares	Weighted-average Exercise Price		Weighted-average Remaining Contractual Term	Aggregate Intrinsic Value
	(In thousands)			(In years)	(In thousands)
Outstanding at September 30, 2022	209	$	247.56
Granted	2	615.45
Exercised	(20)	102.15
Outstanding at December 31, 2022	191	$	266.44	3.35	$	63,594
Exercisable at December 31, 2022	164	$	236.68	3.00	$	59,350
Vested or expected to vest at December 31, 2022	190	$	264.95	3.33	$	63,366