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STOCKHOLDERS' EQUITY
12 Months Ended
Sep. 30, 2020
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Repurchase of Common Stock
During fiscal year 2020, the Company repurchased 3,669,597 shares of its common stock, at an average price of $33.04 per share, which exhausted the remaining shares available for repurchase by the Company under the March 26, 2019 share repurchase program. The Company's Board of Directors authorized the November 20, 2019 share repurchase program to repurchase up to an additional 7,500,000 shares of the Company's outstanding common stock. This authorization is effective from November 21, 2019 through December 31, 2022. The Company suspended its share repurchase activity in March 2020 and resumed repurchase activity during September 2020.
Under the repurchase program, repurchased shares were retired and designated as authorized but unissued shares. The Company accounts for repurchased shares using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of September 30, 2020, the remaining number of shares available for repurchase under this program was 4,149,631 shares of common stock.
For the fiscal years ended September 30, 2020, and 2019, the Company also repurchased 103,830 and 104,219 shares, or $3.2 million and $3.4 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock.

Repurchase of Treasury Stock
On June 25, 2019, Meta retired $5.0 million, or 114,558 shares, of common stock held in treasury. The Company accounts for the retirement of repurchased shares, including treasury stock, using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. No shares of common stock held in treasury were retired during the fiscal year ended September 30, 2020.