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Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summarized Information about Stock Options

The following table summarizes information about stock options:

 

 

 

Number of

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

Per Share

 

 

Weighted-

Average

Remaining

Contractual

Term

 

Aggregate

Intrinsic

Value

 

Balance at September 30, 2020

 

 

4,539,403

 

 

$

16.67

 

 

 

 

 

 

 

Granted

 

 

144,000

 

 

63.64

 

 

 

 

 

 

 

Cancelled

 

 

(55,438

)

 

24.48

 

 

 

 

 

 

 

Exercised

 

 

(537,612

)

 

9.49

 

 

 

 

 

 

 

Balance at December 31, 2020

 

 

4,090,353

 

 

$

19.16

 

 

6.3 years

 

$

235,465,861

 

Exercisable at December 31, 2020

 

 

2,556,040

 

 

$

9.56

 

 

4.8 years

 

$

171,695,135

 

Assumptions Used to Value Stock Options

The assumptions used to value stock options are as follows:

 

 

 

Three Months Ended December 31,

 

 

 

 

2020

 

 

2019

 

 

Dividend yield

 

 

-

 

 

 

-

 

 

Risk-free interest rate

 

0.4 – 0.6%

 

 

1.4 - 1.8%

 

 

Volatility

 

90.0-90.4%

 

 

90.5-91.0%

 

 

Expected life (in years)

 

 

6.25

 

 

 

6.25

 

 

Weighted average grant date fair value per share of options granted

 

$

47.34

 

 

$

39.05

 

 

 

Summary of Share Activity Related to RSUs

The following table summarizes the activity of the Company’s RSUs:

 

 

 

Number of

RSUs

 

 

Weighted-

Average

Grant

Date

Fair Value

 

Unvested at September 30, 2020

 

 

3,524,025

 

 

$

44.11

 

Granted

 

 

118,200

 

 

 

62.26

 

Vested

 

 

(280,325

)

 

 

22.92

 

Forfeited

 

 

(213,750

)

 

 

41.34

 

Unvested at December 31, 2020

 

 

3,148,150

 

 

$

46.87