Stock-based Compensation (Tables)

6 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of stock-based compensation expense

The following table presents a summary of stock-based compensation expense related to stock options and restricted stock awards for the periods presented:

	Three Months Ended				Six Months Ended
	March 31,				March 31,
in thousands	2024		2023		2024		2023
Stock-based compensation expense	$	1,389	$	1,678	$	3,062	$	3,258

Schedule of stock options outstanding

Following is a summary of stock option activity for the six months ended March 31, 2024:

	Six Months Ended
	March 31, 2024
	Shares	Weighted Average Exercise Price
Outstanding at beginning of period	13,575	$	9.61
Exercised	(2,110)	7.56
Outstanding at end of period	11,465	9.99
Exercisable at end of period	11,365	$	9.83

Schedule of nonvested stock awards activity

Following is a summary of restricted stock activity for the six months ended March 31, 2024:

	Six Months Ended March 31, 2024
	Performance-Based Restricted Shares	Time-Based Restricted Shares	Total Restricted Shares
Beginning of period	348,223	593,834	942,057
Granted (a)	180,144	194,498	374,642
Vested	(210,176)	(319,828)	(530,004)
Forfeited	(791)	(9,106)	(9,897)
End of period	317,400	459,398	776,798

(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.