XML 56 R41.htm IDEA: XBRL DOCUMENT v3.20.2
Stock-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of allocation of share-based compensation costs by plan
Fiscal Year Ended September 30,
in thousands202020192018
Stock options expense$133 $178 $225 
Restricted stock awards expense9,903 10,348 10,033 
Stock-based compensation expense$10,036 $10,526 $10,258 
Schedule of assumptions for stock option activity
We used the following valuation assumptions for stock options granted for the periods presented:
Fiscal Year Ended September 30,
202020192018
Expected life of options5.7 years5.0 years5.0 years
Expected volatility51.52 %46.69 %44.71 %
Expected dividends — — 
Weighted-average risk-free interest rate0.43 %2.70 %2.10 %
Weighted-average fair value$4.99 $4.50 $8.30 
Fiscal Year Ended September 30,
202020192018
Expected volatility
21.2% - 54.8%
21.0% - 57.1%
21.1% - 61.2%
Risk-free interest rate1.61 %2.92 %1.81 %
Dividend yield — — 
Grant-date stock price$15.62 $9.82 $20.50 
Schedule of stock options and SSARs outstanding
Following is a summary of stock option activity for the periods presented is as follows:
 202020192018
 SharesWeighted-
Average
Exercise
Price
SharesWeighted-
Average
Exercise
Price
SharesWeighted-
Average
Exercise
Price
Outstanding at beginning of period523,754 $14.34 533,052 $14.26 593,753 $14.76 
Granted950 10.67 30,782 10.23 25,230 19.99 
Exercised(128,921)11.01 (31,450)10.00 (8,411)7.52 
Expired  — — (61,967)23.19 
Forfeited(3,318)9.55 (8,630)10.45 (15,553)10.46 
Outstanding at end of period392,465 $15.47 523,754 $14.34 533,052 $14.26 
Exercisable at end of period354,796 $15.90 470,501 $14.42 479,538 $14.03 
Vested or expected to vest in the future391,968 $15.48 521,362 $14.36 533,052 $14.26 
Schedule of stock options and SSARS outstanding and exercisable
The following table summarizes information about stock options outstanding and exercisable as of September 30, 2020:
Stock Options OutstandingStock Options Exercisable
Range of Exercise PriceNumber OutstandingWeighted-Average Contractual Remaining Life (Years)Weighted-Average Exercise PriceNumber ExercisableWeighted-Average Contractual Remaining Life (Years)Weighted-Average Exercise Price
$1 - $10
37,433 4.7$8.48 22,571 3.6$7.52 
$11 - $15
181,990 1.513.27 174,970 1.313.34 
$16 -$20
173,042 1.719.30 165,148 1.519.25 
$1 - $20
392,465 1.9$15.47 362,689 1.5$15.67 
Schedule of stock options exercised and vested
Information pertaining to the intrinsic value of options exercised and the fair market value of options that vested is below:
Fiscal Year Ended September 30,
in thousands202020192018
Intrinsic value of options exercised$587 $90 $76 
Fair market value of options vested144 178 296 
Schedule of nonvested stock awards and performance shares
Activity relating to all restricted stock awards for the periods presented is as follows:
Year Ended September 30, 2020
 Performance-BasedTime-BasedTotal
 SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
Beginning of period778,814 $13.60 611,607 $12.11 1,390,421 $16.53 
Granted260,131 16.98 327,571 15.29 587,702 16.04 
Vested(242,921)13.60 (302,255)11.89 (545,176)12.65 
Forfeited  (26,793)13.79 (26,793)13.79 
End of period796,024 $14.71 610,130 $13.85 1,406,154 $14.34 

Year Ended September 30, 2019
 Performance-BasedTime-BasedTotal
 SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
Beginning of period644,785 $16.47 431,783 $16.60 1,076,568 $16.53 
Granted (a)
467,819 9.95 448,657 9.82 916,476 9.89 
Vested (a)
(321,833)15.36 (212,558)16.41 (534,391)15.78 
Forfeited(11,957)13.44 (56,275)12.20 (68,232)12.42 
End of period778,814 $13.60 611,607 $12.11 1,390,421 $16.53 
(a) Grant and vesting activity during the twelve months ended September 30, 2019 include 86,050 shares that were issued above target based on performance level achieved under performance-based restricted stock vesting in the current period.

Year Ended September 30, 2018
 Performance-BasedTime-BasedTotal
 SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
Beginning of period668,766 $15.72 872,181 $16.47 1,540,947 $16.15 
Granted165,085 22.40 277,165 18.98 442,250 20.26 
Vested— — (690,922)17.38 (690,922)17.38 
Forfeited(189,066)18.98 (26,641)17.02 (215,707)18.74 
End of period644,785 $16.47 431,783 $16.60 1,076,568 $16.53