Stock-based Compensation Plans (Tables)
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12 Months Ended |
Sep. 30, 2024 |
Sep. 30, 2023 |
Share-Based Payment Arrangement [Abstract] |
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Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
Restricted stock unit activity under the 2006 Plan is summarized below.
| | | | | | | | | | | | | | | | | | | | | | | | | Restricted stock units | | Weighted average grant date fair value per unit | | Weighted average remaining contractual term (years) | | Aggregate intrinsic value (millions) | Outstanding at September 30, 2021 | 396,097 | | | $ | 11.78 | | | 0.8 | | | Granted | 223,379 | | | 13.41 | | | | | | Vested | (251,981) | | | 11.81 | | | | | $ | 2.8 | | Cancelled | (8,763) | | | 11.87 | | | | | | Outstanding at September 30, 2022 | 358,732 | | | 12.77 | | | 0.7 | | | Granted | 625,518 | | | 12.78 | | | | | | Vested | (301,864) | | | 12.83 | | | | | $ | 7.3 | | Cancelled | (109,103) | | | 12.00 | | | | | | Outstanding at September 30, 2023 | 573,283 | | | 12.88 | | | 0.9 | | | Granted | 301,908 | | | 14.91 | | | | | | Vested | (367,315) | | | 12.99 | | | | | $ | 9.8 | | Cancelled | (54,080) | | | 12.85 | | | | | | Outstanding at September 30, 2024 | 453,796 | | | $ | 14.15 | | | 0.9 | | |
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Schedule of Nonvested Performance-based Units Activity [Table Text Block] |
Stock-settled PRSUs activity under the 2006 Plan is summarized below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Award date | | Settlement year | | Performance period | | Grant date per unit fair value | | Units awarded | | Units forfeited | | Net units | | Performance factor | | Shares earned | November 28, 2017 | | 2021 | | 2018 | | $ | 12.50 | | | 57,092 | | | — | | | 57,092 | | | 1.357 | | 77,474 | | | | | | 2019 | | $ | 10.53 | | | 57,092 | | | (4,793) | | | 52,299 | | | 0.645 | | 33,733 | | | | | | 2020 | | $ | 11.26 | | | 57,104 | | | (21,679) | | | 35,425 | | | 0.909 | | 32,202 | | November 27, 2018 | | 2022 | | 2019 | | $ | 10.53 | | | 110,954 | | | (8,751) | | | 102,203 | | | 0.645 | | 65,921 | | | | | | 2020 | | $ | 11.26 | | | 110,954 | | | (13,182) | | | 97,772 | | | 0.909 | | 88,875 | | | | | | 2021 | | $ | 11.86 | | | 110,967 | | | (28,478) | | | 82,489 | | | 1.161 | | 95,770 | | December 3, 2019 | | 2023 | | 2020 | | $ | 11.26 | | | 69,988 | | | (2,391) | | | 67,597 | | | 0.909 | | 61,446 | | | | | | 2021 | | $ | 11.86 | | | 69,989 | | | (9,614) | | | 60,375 | | | 1.161 | | 70,096 | | | | | | 2022 | | $ | 13.81 | | | 69,988 | | | (9,614) | | | 60,374 | | | 0.700 | | 42,262 | | November 29, 2022 | | 2026 | | 2023-2025 | | $ | 11.41 | | | 166,284 | | | (92,550) | | | 73,734 | | | — | | — | | November 28, 2023 | | 2027 | | 2024-2026 | | $ | 13.22 | | | 136,983 | | | (28,308) | | | 108,675 | | | — | | — | |
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Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The table below provides information regarding MRSU awards, which were valued using Monte Carlo simulations on the grant date: | | | | | | | | | | | | | | | | | | | November 28, 2023 | | November 29, 2022 | | November 30, 2021 | Fair value at grant date | $ | 18.11 | | | $ | 15.08 | | | $ | 15.76 | | Units granted | 136,983 | | | 166,284 | | | 230,089 | | Variables used in determining grant date fair value: | | | | | | Dividend yield | 2.00 | % | | 2.20 | % | | 1.70 | % | Risk-free rate | 4.50 | % | | 4.20 | % | | 0.76 | % | Expected term (in years) | 2.84 | | 2.83 | | 2.83 |
The assumptions used to determine the grant date fair value are indicated below for grants issued during our 2024 fiscal year: | | | | | | | November 28, 2023 | Variables used in determining grant date fair value: | | Dividend yield | 1.94% | Risk-free rate | 4.33% | Expected term (in years) | 6.00 |
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Schedule of Share-based Compensation. Options |
Stock option activity under the 2006 Plan is summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | Options | | Weighted average exercise price per option | | Weighted average remaining contractual term (years) | | Aggregate intrinsic value (millions) | Outstanding at September 30, 2021 | 599,799 | | | $ | 10.67 | | | 7.8 | | $ | 2.7 | | Granted | 457,482 | | | 13.64 | | | | | | Exercised | (36,731) | | | 5.67 | | | | | 0.2 | | Cancelled | (7,257) | | | | | | | | Outstanding at September 30, 2022 | 1,013,293 | | | 12.19 | | | 7.7 | | $ | 0.3 | | Granted | 573,279 | | | 11.41 | | | | | | Exercised | (131,989) | | | 9.59 | | | | | 0.4 | | Cancelled | (327,115) | | | | | | | | Outstanding at September 30, 2023 | 1,127,468 | | | 12.10 | | | 7.8 | | $ | 1.0 | | Granted | 457,356 | | | 13.22 | | | | | | Exercised | (517,839) | | | 12.05 | | | | | 5.0 | | Cancelled | (135,215) | | | | | | | | Outstanding at September 30, 2024 | 931,770 | | | $ | 12.60 | | | 7.9 | | $ | 8.5 | | | | | | | | | | Exercisable at September 30, 2024 | 322,467 | | | $ | 12.31 | | | 6.4 | | $ | 3.0 | |
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Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] |
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The ranges of exercise prices for stock options outstanding at September 30, 2024 are summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Exercise price | | Outstanding Options | | Weighted average exercise price | | Weighted average remaining contractual term (years) | | Exercisable options | | Weighted average exercise price | | | | | | | | | | | | | | | | | $ | 5.00 | | - | $ | 9.99 | | | | 21,582 | | | $ | 9.97 | | | 0.3 | | 21,582 | | | $ | 9.97 | | | $ | 10.00 | | - | $ | 14.99 | | | | 910,188 | | | $ | 12.66 | | | 8.1 | | 300,885 | | | $ | 12.47 | | | | | | | | 931,770 | | | $ | 12.60 | | | | | 322,467 | | | $ | 12.31 | |
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Schedule of Share-based Compensation, Phantom Award, Activity |
Phantom Plan activity is summarized below: | | | | | | | | | | | | | | | | | | | | | | | | | Phantom Plan units | | Weighted average grant date fair value per unit | | Weighted average remaining contractual term (years) | | Aggregate intrinsic value (millions) | Outstanding at September 30, 2021 | 344,844 | | | $ | 11.51 | | | 0.9 | | | Granted | 203,834 | | | 13.60 | | | | | | Vested | (162,969) | | | | | | | $ | 1.6 | | Cancelled | (46,578) | | | 12.39 | | | | | | Outstanding at September 30, 2022 | 339,131 | | | 12.74 | | | 1.1 | | | Granted | 294,063 | | | 11.53 | | | | | | Vested | (156,012) | | | | | | | $ | 1.9 | | Cancelled | (120,515) | | | 12.22 | | | | | | Outstanding at September 30, 2023 | 356,667 | | | 12.09 | | | 1.0 | | | Granted | 236,250 | | | 13.28 | | | | | | Vested | (156,585) | | | | | | | $ | 1.9 | | Cancelled | (20,952) | | | 12.53 | | | | | | Outstanding at September 30, 2024 | 415,380 | | | $ | 12.71 | | | 0.9 | | |
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