Restricted Stock Plan

9 Months Ended

Jun. 30, 2012

Restricted Stock Plan [Abstract]

Restricted Stock Plan

NOTE 6: Restricted Stock Plan

On March 11, 2010, shareholders approved the Panhandle Oil and Gas Inc. 2010 Restricted Stock Plan (2010 Stock Plan), which made available 100,000 shares of common stock to provide a long-term component to the Company’s total compensation package for its officers and to further align the interest of its officers with those of its shareholders. The 2010 Stock Plan is designed to provide as much flexibility as possible for future grants of restricted stock so that the Company can respond as necessary to provide competitive compensation in order to retain, attract and motivate officers of the Company and to align their interests with those of the Company’s shareholders.

Effective March 2010, the board of directors approved the purchase of the Company’s common stock, from time to time, equal to the aggregate number of shares of common stock awarded pursuant to the Company’s 2010 Restricted Stock Plan, contributed by the Company to its ESOP and credited to the accounts of directors pursuant to the Deferred Compensation Plan for Non-Employee Directors.

The following table summarizes the Company’s pre-tax compensation expense for the three and nine months ended June 30, 2012 and 2011, related to the Company’s performance based and non-performance based restricted stock.

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Performance based, restricted stock	$	43,031	$	14,303	$	107,449	$	28,606
Non-performance based, restricted stock		48,034		32,515		132,409		77,058
Total compensation expense	$	91,065	$	46,818	$	239,858	$	105,664

A summary of the Company’s unrecognized compensation cost for its unvested performance based and non-performance based restricted stock and the weighted-average periods over which the compensation cost is expected to be recognized are shown in the following table.

	As of June 30, 2012
	Unrecognized Compensation Cost		Weighted Average Period (in years)
Performance based, restricted stock	$	366,008		2.14
Non-performance based, restricted stock		418,621		2.29
Total	$	784,629

Upon vesting, shares are expected to be issued out of shares held in treasury.