Stockholders' Equity (Tables)

9 Months Ended

Jun. 30, 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	383,661		57.75
Vested	(162,253)		55.66
Forfeited	(51,331)		60.04
Unvested at June 30, 2020	592,171	$	58.90

	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 June 30, 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	(51,088)		59.03
Unvested at June 30, 2020	523,140	$	58.07

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				Nine Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Cost of sales	$	857	$	498	$	2,139	$	1,236
Selling, general and administrative		4,555		3,904		13,132		9,524
	$	5,412	$	4,402	$	15,271	$	10,760