EQUITY-BASED INCENTIVE AWARDS (Tables)

3 Months Ended

Dec. 31, 2018

EQUITY-BASED INCENTIVE AWARDS

Schedule of assumptions used in connection with the Black-Scholes option pricing calculation

	Stock Option		Stock Option
	Pricing		Pricing
	Assumptions		Assumptions
	Q1 2019		Q1 2018
Risk-free interest rate	2.55	%	2.41	%
Dividend yield	0.8	%	0.8	%
Expected volatility	45.10	%	33.00	%
Expected life in years	6		6

Summary of stock options activity

		Weighted
	Number	Average
	of	Exercise
	Shares	Price
Outstanding at September 2018	33,800	$	77.85
Granted	5,450		84.00
Exercised	—		—
Forfeited/Expired	—		—
Outstanding at December  2018	39,250	$	78.71

Schedule of nonvested restricted stock units awarded

	Restricted  Stock Units(1)		Restricted  Stock Units(2)		Restricted  Stock Units(3)		Restricted  Stock Units(4)
Date of award:		October 2015		October 2016		October 2017		October 2018
Original number of awards issued:		13,250		13,000		13,000		15,050
Service period:		36 - 60 months		36 months		36 months		36 months
Estimated fair value of award at grant date:	$	1,112,000	$	1,191,000	$	1,177,000	$	1,264,000
Non-vested awards outstanding at December 31, 2018:		100		4,334		8,667		15,050
Fair value of non-vested awards at December 31, 2018 of approximately:	$	10,000	$	432,000	$	865,000	$	1,501,000

(1)13,150 restricted stock units were vested as of December 2018. The remaining 100 restricted stock units will vest in equal amounts in October 2019 and October 2020.

(2)8,666 of the restricted stock units were vested as of December 2018. The remaining 4,334 restricted stock units will vest in October 2019. 

(3)4,333 restricted stock units were vested as of December 2018. 4,333 restricted stock units will vest in October 2019 and 4,334 will vest in October 2020.  

(4)The 15,050 restricted stock units will vest in equal amounts in October 2019, October 2020, and October 2021.

Summary of restricted stock unit activity

	Number	Weighted
	of	Average
	Shares	Fair Value
Nonvested restricted stocks units at September 2018	26,811	$	86.95
Granted	15,050		84.00
Vested	(13,710)		84.00
Expired	—		—
Nonvested restricted stocks units at December  2018	28,151	$	99.75