Stockholders' Equity (Tables)

6 Months Ended

Mar. 31, 2020

Stockholders' Equity

Summary of assumptions used for the valuation of the RSUs with performance and market-based vesting that were granted

The following tables include the assumptions used for the valuation of the RSUs with performance and market-based vesting that were granted during fiscal 2019 and fiscal 2020:

	RSUs granted during fiscal 2020
Date of grant	November 29, 2019
Grant date fair value per RSU	$52.51
Performance period begins	November 29, 2019
Performance period ends	September 30, 2022
Risk-free interest rate	1.6%
Expected volatility	41%
	RSUs granted during fiscal 2019
Date of grant	November 21, 2018	April 1, 2019
Grant date fair value per RSU	$67.40	$59.29
Performance period begins	November 21, 2018	April 1, 2019
Performance period ends	September 30, 2021	September 30, 2021
Risk-free interest rate	2.8%	2.8%
Expected volatility	34%	34%

Summary of RSU activity

The following table summarizes our RSU activity:

	Unvested RSUs with Time-Based Vesting
		Weighted Average
	Number of Shares	Grant-Date Fair Value per Share
Unvested at September 30, 2019	422,094	$	58.84
Granted	348,055		59.81
Vested	(158,931)		55.80
Forfeited	(43,913)		59.94
Unvested at March 31, 2020	567,305	$	60.20

	Unvested RSUs with Performance-Based Vesting
		Weighted Average
	Number of Shares	Grant-Date Fair Value per Share
Unvested at September 30, 2019	315,262	$	55.67
Granted	—		—
Vested	—		—
Forfeited	(177,492)		47.57
Unvested at March 31, 2020	137,770	$	61.40

	Unvested RSUs with Performance and Market-Based Vesting
		Weighted Average
	Number of Shares	Grant-Date Fair Value per Share
Unvested at September 30, 2019	227,402	$	66.77
Granted	346,826		52.51
Vested	—		—
Forfeited	(46,896)		59.24
Unvested at March 31, 2020	527,332	$	58.06

Schedule of stock-based compensation expense related to stock-based awards

We recorded non-cash compensation expense related to stock-based awards as follows (in thousands):

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2020		2019		2020		2019
Cost of sales	$	743	$	425	$	1,282	$	738
Selling, general and administrative		4,639		3,213		8,577		5,620
	$	5,382	$	3,638	$	9,859	$	6,358