Stock-based Compensation (Tables)

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of stock-based compensation expense

Following is a summary of stock-based compensation expense related to stock options and restricted stock awards for the three months ended December 31, 2023 and 2022.

	Three Months Ended
	December 31,
in thousands	2023		2022
Stock-based compensation expense	$	1,673	$	1,580

Schedule of stock options outstanding

Following is a summary of stock option activity for the three months ended December 31, 2023:

	Three Months Ended
	December 31, 2023
	Shares	Weighted Average Exercise Price
Outstanding at beginning of period	13,575	$	9.61
Outstanding at end of period	13,575	9.61
Exercisable at end of period	13,475	$	9.48

Schedule of nonvested stock awards activity

Following is a summary of restricted stock activity for the three months ended December 31, 2023:

	Three Months Ended December 31, 2023
	Performance-Based Restricted Shares	Time-Based Restricted Shares	Total Restricted Shares
Beginning of period	348,223	593,834	942,057
Granted (a)	180,144	180,594	360,738
Vested	(210,176)	(318,899)	(529,075)
Forfeited	—	(8,248)	(8,248)
End of period	318,191	447,281	765,472

(a) Each of our performance shares represent a contingent right to receive one share of the Company's common stock if vesting is satisfied at the end of the three-year performance period. Our performance stock award plans provide that any performance shares earned in excess of the target number of performance shares issued may be settled in cash or additional shares at the discretion of the Compensation Committee. In November 2023, we issued 108,108 shares earned above target level based on the performance level achieved under the fiscal 2021 performance-based award plan.