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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Cost for Stock-Based Payment Arrangements A summary of compensation expense for stock-based payment arrangements recognized in Drilling services operating expense, Research and development expense and Selling, general and administrative expense on our Unaudited Condensed Consolidated Statements of Operations, is as follows:
Three Months Ended March 31,Six Months Ended March 31,
(in thousands)2023202220232022
Stock-based compensation expense
Drilling services operating$1,532 $1,282 $2,917 $2,522 
Research and development486 393 912 746 
Selling, general and administrative5,413 6,270 11,875 10,895 
$7,431 $7,945 $15,704 $14,163 
Schedule of the Status of Restricted Stock Awards and Changes in Restricted Stock Outstanding
A summary of the status of our restricted stock awards as of March 31, 2023 and changes in non-vested restricted stock outstanding during the six months then ended is presented below:
(in thousands, except per share amounts)
Shares1
Weighted-Average Grant Date Fair Value per Share
Non-vested restricted stock outstanding at September 30, 2022
1,493 $30.85 
Granted588 44.53 
Vested2
(708)33.95 
Forfeited(8)33.93 
Non-vested restricted stock outstanding at March 31, 2023
1,365 $35.12 
(1)Restricted stock shares include restricted phantom stock units under our Director Deferred Compensation Plan. These phantom stock units confer the economic benefits of owning company stock without the actual ownership, transfer or issuance of any shares. Phantom stock units are subject to a vesting period of one year from the grant date. During the six months ended March 31, 2023, 12,591 restricted phantom stock units were granted and 14,199 restricted phantom stock units vested.
(2)The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.
A summary of the status of our performance-vested restricted share units ("performance units") as of March 31, 2023 and changes in non-vested performance units outstanding during the six months then ended is presented below:
(in thousands, except per unit amounts)Performance UnitsWeighted-Average Grant Date Fair Value per Unit
Non-vested performance units outstanding at September 30, 2022
726 $33.67 
Granted144 54.30 
Vested(286)43.40 
Dividend equivalent rights performance units credited and performance factor adjustment1
191 36.10 
Non-vested performance units outstanding at March 31, 20232
775 $34.51 
(1)At the end of the Vesting Period, recipients receive dividend equivalents, if any, with respect to the number of vested performance units. The vesting of units ranges from zero to 200 percent of the units granted depending on the Company’s total shareholder return ("TSR") relative to the TSR of the Peer Group on the vesting date.
(2)Of the total non-vested performance units at the end of the period, specified performance criteria has been achieved with respect to 225,308 performance units which is calculated based on the payout percentage for the completed performance period. The vesting and number of the remainder of non-vested performance units reflected at the end of the period is contingent upon our achievement of specified target performance criteria. If we meet the specified maximum performance criteria, approximately 379,152 additional performance units could vest or become eligible to vest.