Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2023

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of stock-based compensation expense

The following table reflects stock-based compensation expense recorded during the fiscal years ended September 30, 2023, 2022 and 2021 (in thousands):

	Year Ended September 30,
	2023		2022		2021
Restricted stock units	$	8,027	$	10,597	$	18,923
Employee stock purchase plan		1,349		1,846		1,128
Total stock-based compensation expense for continuing and discontinued operations	$	9,376	$	12,443	$	20,051
Income tax benefit		(1,406)		(1,929)		(3,208)
Total compensation expense included in the statement of operations		7,970		10,514		16,843

Summary of restricted stock unit activity

The following table summarizes restricted stock unit activity for the fiscal year ended September 30, 2023 (in thousands, except for weighted average grant-date fair value):

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Outstanding as of September 30, 2022	538,238	$	71.99
Granted	590,066	$	57.22
Vested	(267,834)	$	55.86
Forfeited	(141,516)	$	72.04
Outstanding as of September 30, 2023	718,954	$	67.40

Restricted stock units granted with performance goals may also have a required service period following the achievement of all or a portion of the performance goals. The following table reflects restricted stock units and stock awards granted during fiscal years ended September 30, 2023, 2022 and 2021 (in thousands):

	Year Ended September 30,
	2023	2022	2021
Time-based restricted stock units	311,609	120,066	166,570
Common stock awards	—	18,471	14,713
Performance-based restricted stock units	278,457	111,148	168,647
Total units	590,066	249,685	349,930

Summary of valuation assumptions for an employee stock purchase plan

The fair value of shares issued under the employee stock purchase plan is estimated on the commencement date of each offering period using the Black-Scholes option-pricing model with the following weighted average assumptions for the fiscal years ended September 30, 2023, 2022 and 2021:

	Year Ended September 30,
	2023		2022		2021
Risk-free interest rate	5.2	%	1.7	%	0.3	%
Volatility	57	%	49	%	53	%
Expected life	6 months		6 months		6 months
Dividend yield	—	%	—	%	0.6	%