Stock-Based Compensation

9 Months Ended

Jun. 30, 2011

Stock-Based Compensation

Stock-Based Compensation

(11)      Stock-Based Compensation

Stock-based compensation expense for restricted share awards totaled $1,486 and $1,101 for the nine months ended June 30, 2011 and 2010, respectively. The total income tax benefit recognized in the unaudited consolidated statements of income related to expense for stock-based compensation was $556 and $398 during the first nine months of fiscal 2011 and 2010, respectively.

Restricted Share Awards

Restricted share transactions during the nine months ended June 30, 2011 were as follows:

	Number of Restricted Share Awards (in thousands)	Weighted- Average Fair Value
Outstanding at October 1, 2010	121	$	60.81
Granted	39		63.39
Vested	(7)		54.00
Forfeited	(2)		62.82
Outstanding at June 30, 2011	151	$	61.79

The per share weighted average fair value of restricted shares, including restricted stock and performance shares, granted during the nine months ended June 30, 2011 and 2010 was $63.39 and $61.64, respectively. As of June 30, 2011, unrecognized compensation expense related to restricted share awards totaled $4,863 and is expected to be recognized over a weighted average period of 1.16 years. The total fair value of shares vested during the nine months ended June 30, 2011 and 2010 was $409 and $148, respectively.

Stock Options

A summary of stock option activity during the nine months ended June 30, 2011 is presented below:

	Number of Options (in thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding at October 1, 2010	93	$	45.10
Exercised	(2)		39.17
Outstanding at June 30, 2011	91		45.25	3.5	$	1,484
Exercisable at June 30, 2011	91	$	45.25	3.5	$	1,484

The Company has not granted stock options subsequent to fiscal 2005. As of June 30, 2011, all outstanding stock options were vested and compensation expense related to stock options was recognized in prior fiscal years. The intrinsic value of options exercised totaled $59 and $1,062 during the first nine months of fiscal 2011 and 2010, respectively. The total income tax benefit recognized in the unaudited consolidated statements of income related to the exercise of stock options was $22 and $384 during the nine months ended June 30, 2011 and 2010, respectively.