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STOCK COMPENSATION
 3 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
STOCK COMPENSATION STOCK COMPENSATION

The Company maintains the Meta Financial Group, Inc. 2002 Omnibus Incentive Plan, as amended and restated (the "2002 Omnibus Incentive Plan"), which, among other things, provides for the awarding of stock options and nonvested restricted shares to certain officers and directors of the Company. Awards are granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors.

Compensation expense for share-based awards is recorded over the vesting period at the fair value of the award at the time of the grant. The exercise price of options or fair value of nonvested (restricted) shares granted under the Company’s incentive plan is equal to the fair market value of the underlying stock at the grant date. The Company has elected, with the adoption of ASU 2016-09, to record forfeitures as they occur.

The following tables show the activity of options and nonvested restricted shares granted, exercised, or forfeited under the 2002 Omnibus Incentive Plan for the three months ended December 31, 2019:
(Dollars in Thousands, Except Per Share Data)
Number of Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (Yrs)
 
Aggregate Intrinsic Value
Options outstanding, September 30, 2019
59,835

 
$
8.06

 
1.54

 
$
1,469

Granted
—

 
—

 
—

 
—

Exercised
(15,030
)
 
7.85

 
1.33

 
367

Forfeited or expired
—

 
—

 
—

 
—

Options outstanding, December 31, 2019
44,805

 
$
8.14

 
1.27

 
$
1,271

 
 
 
 
 
 
 
 
Options exercisable, December 31, 2019
44,805

 
$
8.14

 
1.27

 
$
1,271



(Dollars in Thousands, Except Per Share Data)
Number of Shares
 
Weighted Average Fair Value at Grant
Nonvested shares outstanding, September 30, 2019
926,122

 
$
29.54

Granted
154,422

 
32.82

Vested
(230,067
)
 
29.47

Forfeited or expired
(3,817
)
 
32.96

Nonvested shares outstanding, December 31, 2019
846,660

 
$
30.14


At December 31, 2019, stock-based compensation expense not yet recognized in income totaled $13.3 million, which is expected to be recognized over a weighted average remaining period of 2.61 years.