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Stock-Based Compensation and Employee Benefit Plans (Tables)
 12 Months Ended
Sep. 30, 2013
Stock-Based Compensation and Employee Benefit Plans  
Schedule of weighted-average assumptions used for options granted

 

 

 
   Fiscal year ended
September 30,
2013		   Fiscal year ended
September 30,
2012		   Fiscal year ended
September 30,
2011		  

Significant assumptions:

                    

Time based vesting

                    

Risk-free rate(1)

     .11%–4.59 %   .10%–3.12 %   .12%–4.5 %

Expected term(2)

     6.5 years     6.5 years     6.5 years  

Expected volatility(3)

     36%     37%     33%  

Expected dividends

     0.0%     0.0%     0.0%  

Performance based vesting

                    

Risk-free rate(1)

     .11%–4.59 %   .10%–3.12 %   .12%–4.5 %

Expected term(4)

     4.5 years     5.6 years     6.6 years  

Expected volatility(3)

     37%     38%     34%  

Expected dividends

     0.0%     0.0%     0.0%  
(1)
The risk free interest rate assumption was based on yields of U.S. Treasury securities in effect at the date of grant with terms similar to the expected term.

(2)
The expected term of the options was estimated utilizing the simplified method. We utilize the simplified method because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. The simplified method was used for all stock options that require only a service vesting condition.

(3)
Expected volatility was estimated based on historical volatility of peer companies over a period equivalent to the expected term. Peer companies are determined based on relevant industry and/or market capitalization.

(4)
The expected term of the options was estimated utilizing a Monte Carlo simulation model.
Summary of stock option activity

 

 

   
   Fiscal Year Ended
September 30,
2013		   Fiscal Year Ended
September 30,
2012		  
   
   Number
of shares		   Weighted
average
exercise
price		   Number
of shares		   Weighted
average
exercise
price		  
 

Outstanding at beginning of period

     162,951   $ 294     152,678   $ 267  
 

Granted

     19,180   $ 540     24,850   $ 442  
 

Exercised

     (730 ) $ 267     (450 ) $ 267  
 

Forfeited

     (8,218 ) $ 267     (14,127 ) $ 267  
                     
 

Outstanding at end of period

     173,183   $ 323     162,951   $ 294  
                     
 

Exercisable at end of period

     29,833           14,357   $ 267  
                     
 

Number of shares available for future grant

     23,509                    
                           
Summary of information about stock options outstanding, by range of exercise prices

The following table summarizes information about stock options outstanding at September 30, 2013:

 
   Options Outstanding   Options Exercisable  
Range of
Exercise Prices
  Shares
Outstanding		   Weighted
Average
Remaining
Contractual
Life		   Weighted
Average
Exercise
Price		   Shares
Exercisable		   Weighted
Average
Exercise
Price		   Intrinsic
Value		  
$267     129,378     7.4   $ 267     27,243   $ 267   $ 7,437,339  
$442     30,115     8.8   $ 442     2,590   $ 442   $ 253,820  
$540     13,690     9.7   $ 540     —   $ —   $ —