Share-Based Compensation (Notes)

3 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Share-Based Compensation

Share-based compensation expense is included in ‘compensation and benefits’ in the condensed consolidated income statements and totaled $0.9 million and $1.1 million for the three months ended December 31, 2014 and 2013, respectively.

Stock Option Plan

The Company sponsors a stock option plan for its directors, officers, employees and consultants. The 2013 Stock Option Plan, which was approved by the Company’s Board of Directors and shareholders, authorizes the Company to issue stock options covering up to 1.0 million shares of the Company’s common stock. As of December 31, 2014, there were 0.9 million shares available for future grant under this plan. Awards that expire or are forfeit generally become available for issuance again under the plan. The Company settles stock option exercises with newly issued shares of common stock.

The following is a summary of stock option activity for the three months ended December 31, 2014:

	Shares Available for Grant	Number of Options Outstanding		Weighted Average Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Term (in years)	Aggregate Intrinsic Value ($ millions)
Balances as of September 30, 2014	913,500	1,578,056		$	25.38	$	11.58	4.16	$	1.9
Granted	—	—		$	—	$	—
Exercised	—	(190,398	)	$	7.52	$	3.40
Forfeited	—	—		$	—	$	—
Expired	—	(39,389	)	$	23.41	$	11.60
Balances as of December 31, 2014	913,500	1,348,269		$	27.96	$	12.74	4.58	$	0.7
Exercisable as of December 31, 2014		459,620		$	33.98	$	13.42	1.48	$	0.5

The total compensation cost not yet recognized for non-vested awards of $7.4 million as of December 31, 2014 has a weighted-average period of 5.19 years over which the compensation expense is expected to be recognized. Compensation expense is amortized on a straight-line basis over the vesting period. The total intrinsic value of options exercised during the three months ended December 31, 2014 and 2013 was $2.2 million and $0.6 million, respectively.

Restricted Stock Plan

The Company sponsors a restricted stock plan for its directors, officers and employees. As of December 31, 2014, 1.0 million shares were authorized for future grant under the 2012 Restricted Stock Plan. Awards that are forfeit generally become available for issuance again under the plan. The Company utilizes newly issued shares of common stock to make restricted stock grants.

The following is a summary of restricted stock activity for the three months ended December 31, 2014:

	Shares Available for Grant		Number of Shares Outstanding		Weighted Average Grant Date Fair Value		Weighted Average Remaining Term (in years)	Aggregate Intrinsic Value ($ millions)
Balances as of September 30, 2014	1,096,325		229,851		$	20.03	1.79	$	4.0
Granted	(83,923	)	83,923		$	18.37
Vested	—		(72,268	)	$	22.23
Forfeited	328		(328	)	$	18.12
Balances as of December 31, 2014	1,012,730		241,178		$	18.80	2.49	$	5.0

The total compensation cost not yet recognized of $3.6 million as of December 31, 2014 has a weighted-average period of 2.49 years over which the compensation expense is expected to be recognized. Compensation expense is amortized on a straight-line basis over the vesting period. Restricted stock grants are included in the Company’s total issued and outstanding common shares.