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Restricted Stock Plan (Tables)
 12 Months Ended
Sep. 30, 2020
Restricted Stock Plan [Abstract]  
Summary Of Pre-Tax Compensation Expense

The following table summarizes the Company’s pre-tax compensation expense for the years ended September 30, 2020, 2019 and 2018, related to the Company’s market-based, time-based and performance-based restricted stock:

 

 

 

Year Ended September 30,

 

 

 

2020

 

 

2019

 

 

2018

 

Market-based, restricted stock

 

$

295,397

 

 

$

367,091

 

 

$

276,272

 

Time-based, restricted stock

 

 

448,500

 

 

 

404,706

 

 

 

379,142

 

Performance-based, restricted stock

 

 

-

 

 

 

-

 

 

 

-

 

Total compensation expense

 

$

743,897

 

 

$

771,797

 

 

$

655,414

 

 
Summary Of Unrecognized Compensation Cost

A summary of the Company’s unrecognized compensation cost for its unvested market-based, time-based and 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:

 

 

 

Unrecognized

Compensation

Cost

 

 

Weighted Average Period

(in years)

 

Market-based, restricted stock

 

$

67,653

 

 

 

1.83

 

Time-based, restricted stock

 

 

562,829

 

 

 

1.97

 

Performance-based, restricted stock

 

 

-

 

 

 

 

 

Total

 

$

630,482

 

 

 

 

 
Summary Of Status And Changes In Unvested Shares Of Restricted Stock Awards

A summary of the status of, and changes in, unvested shares of restricted stock awards is presented below:

 

 

 

Market-Based

Unvested

Restricted

Awards

 

 

Weighted

Average

Grant-Date

Fair Value

 

 

Time-Based

Unvested

Restricted

Awards

 

 

Weighted

Average

Grant-Date

Fair Value

 

 

Performance-Based

Unvested

Restricted

Awards

 

 

Weighted

Average

Grant-Date

Fair Value

 

Unvested shares as of September 30,

   2017

 

 

99,090

 

 

$

11.33

 

 

 

24,997

 

 

$

19.41

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

-

 

Granted

 

 

29,099

 

 

 

11.34

 

 

 

19,918

 

 

 

20.77

 

 

 

-

 

 

 

-

 

Vested

 

 

(35,485

)

 

 

12.18

 

 

 

(16,248

)

 

 

19.34

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Unvested shares as of September 30,

   2018

 

 

92,704

 

 

$

11.00

 

 

 

28,667

 

 

$

20.40

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

43,287

 

 

 

8.24

 

 

 

27,978

 

 

 

15.61

 

 

 

-

 

 

 

-

 

Vested

 

 

-

 

 

 

-

 

 

 

(24,785

)

 

 

18.30

 

 

 

-

 

 

 

-

 

Forfeited

 

 

(89,321

)

 

 

10.08

 

 

 

(13,153

)

 

 

18.23

 

 

 

-

 

 

 

-

 

Unvested shares as of September 30,

   2019

 

 

46,670

 

 

$

10.21

 

 

 

18,707

 

 

$

17.54

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

39,579

 

 

 

8.83

 

 

 

102,154

 

 

 

9.21

 

 

 

39,579

 

 

 

-

 

Vested

 

 

-

 

 

 

-

 

 

 

(20,410

)

 

 

13.35

 

 

 

-

 

 

 

-

 

Forfeited

 

 

(24,779

)

 

 

11.34

 

 

 

(9,929

)

 

 

13.93

 

 

 

(4,765

)

 

 

-

 

Unvested shares as of September 30,

   2020

 

 

61,470

 

 

$

8.87

 

 

 

90,522

 

 

$

9.49

 

 

 

34,814

 

 

$

-