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Deferred Compensation Plan For Directors
12 Months Ended
Sep. 30, 2013
Deferred Compensation Plan For Directors [Abstract]  
DEFERRED COMPENSATION PLAN FOR DIRECTORS

8. DEFERRED COMPENSATION PLAN FOR DIRECTORS

 

The Panhandle Oil and Gas Inc. Deferred Compensation Plan for Non-Employee Directors (the “Plan”) provides that each eligible director can individually elect to receive shares of Company Common Stock rather than cash for Board and committee chair retainers, Board meeting fees and Board committee meeting fees. These shares are unissued and vest as earned. The shares are credited to each director’s deferred fee account at the closing market price of the stock on the date earned. As of September 30, 2013, there were 122,219 shares (121,348 shares at September 30, 2012) included in the Plan. The deferred balance outstanding at September 30, 2013, under the Plan was $2,756,526  ($2,676,160 at September 30, 2012). Expenses totaling $377,520,  $417,347 and $443,456 were charged to the Company’s results of operations for the years ended September 30, 2013,  2012 and 2011, respectively, and are included in general and administrative expense in the accompanying Statement of Operations.