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Pay vs Performance Disclosure
U_pure in Millions

12 Months Ended

Sep. 30, 2023

USD ($)

Sep. 30, 2022

USD ($)

Sep. 30, 2021

USD ($)

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


		PEO (1)								Average for Other NEOs (1)								Value of Initial Fixed $100 Investment on September 30, 2020 Based On:
Fiscal Year		Summary Compensation Table Total ($)				Compensation Actually Paid (2) ($)				Summary Compensation Table Total ($)				Compensation Actually Paid (2) ($)				Total Shareholder Return (3) ($)				Peer Group Total Shareholder Return (3) ($)				Net (Loss) Income ($ in millions)				Adjusted Revenue (4) ($ in millions)

2023			3,527,263				3,900,110				1,252,746				1,333,609				82.11				95.62				(1.5	)			107.6
2022			3,095,627				(346,185	)			1,050,385				216,842				78.13				86.24				(27.3	)			100.0
2021			2,938,269				5,467,968				1,102,741				1,736,960				142.89				134.42				4.2				93.8

Company Selected Measure Name

Adjusted Revenue

Named Executive Officers, Footnote

(1)

Gary R. Maharaj was our principal executive officer (“PEO”) in fiscal 2023, 2022 and 2021. In fiscal 2023 and 2022, our non-PEO named executive officers (collectively, “Other NEOs”) were Timothy J. Arens, Charles W. Olson, Teryl L.W. Sides and Gordon S. Weber. In fiscal 2021, our Other NEOs were Timothy J. Arens, Teryl L.W. Sides, Joseph J. Stich and Gordon S. Weber.

Peer Group Issuers, Footnote

(3)

Our peer group for the calculation of total shareholder return (“TSR”) is the Nasdaq Medical Supplies Total Return Index, which is the industry index used in the stock price performance graph in our Form 10-K. TSR, in the case of both the Company and our peer group, reflects the cumulative return on $100 as if invested on September 30, 2020, including reinvestment of any dividends, through and including the end of each fiscal year shown in the table.

PEO Total Compensation Amount

$ 3,527,263

$ 3,095,627

$ 2,938,269

PEO Actually Paid Compensation Amount

$ 3,900,110

(346,185)

5,467,968

Adjustment To PEO Compensation, Footnote

Compensation Actually Paid. In accordance with Item 402(v), the following adjustments were made to total compensation each year as reported in the Summary Compensation Table (“SCT”) to determine the CAP to the PEO and average CAP to the Other NEOs:


		PEO												Average of Other NEOs
Fiscal Year		Reported SCT Total ($)				Equity Award Adjustments ($)				Compensation Actually Paid ($)				Reported SCT Total ($)				Equity Award Adjustments ($)				Compensation Actually Paid ($)

2023			3,527,263				372,847				3,900,110				1,252,746				80,863				1,333,609
2022			3,095,627				(3,441,812	)			(346,185	)			1,050,385				(833,543	)			216,842
2021			2,938,269				2,529,699				5,467,968				1,102,741				634,219				1,736,960

Equity award adjustments in the calculation of CAP were as follows:


Fiscal Year	Deduct: Grant Date Fair Value of Equity Awards Granted in the Covered Year ($)				Year-end Fair Value of Equity Awards Granted in the Covered Year that were Unvested at the End of the Covered Year ($)				Change in Fair Value from the End of the Prior Year to the End of the Covered Year of Equity Awards Granted in a Prior Year that were Unvested at the End of the Covered Year ($)				Change in Fair Value from the End of the Prior Year to the Vesting Date of Equity Awards Granted in a Prior Year that Vested in the Covered Year ($)				Total Equity Award Adjustments ($)

PEO:
2023		(2,200,000	)			1,979,650				324,700				268,497				372,847
2022		(2,000,000	)			1,207,857				(2,060,916	)			(588,753	)			(3,441,812	)
2021		(1,650,000	)			3,016,670				1,199,856				(36,827	)			2,529,699
Other NEOs:
2023		(600,000	)			539,895				79,961				61,007				80,863
2022		(500,000	)			301,947				(482,383	)			(153,107	)			(833,543	)
2021(1)		(400,000	)			729,898				297,029				7,292				634,219

(1)

Equity adjustments for one of our Other NEOs in fiscal 2021 included options transferred for value pursuant to a qualified domestic relations order.

Non-PEO NEO Average Total Compensation Amount

$ 1,252,746

1,050,385

1,102,741

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,333,609

216,842

1,736,960

Adjustment to Non-PEO NEO Compensation Footnote

Compensation Actually Paid. In accordance with Item 402(v), the following adjustments were made to total compensation each year as reported in the Summary Compensation Table (“SCT”) to determine the CAP to the PEO and average CAP to the Other NEOs:


		PEO												Average of Other NEOs
Fiscal Year		Reported SCT Total ($)				Equity Award Adjustments ($)				Compensation Actually Paid ($)				Reported SCT Total ($)				Equity Award Adjustments ($)				Compensation Actually Paid ($)

2023			3,527,263				372,847				3,900,110				1,252,746				80,863				1,333,609
2022			3,095,627				(3,441,812	)			(346,185	)			1,050,385				(833,543	)			216,842
2021			2,938,269				2,529,699				5,467,968				1,102,741				634,219				1,736,960

Equity award adjustments in the calculation of CAP were as follows:


Fiscal Year	Deduct: Grant Date Fair Value of Equity Awards Granted in the Covered Year ($)				Year-end Fair Value of Equity Awards Granted in the Covered Year that were Unvested at the End of the Covered Year ($)				Change in Fair Value from the End of the Prior Year to the End of the Covered Year of Equity Awards Granted in a Prior Year that were Unvested at the End of the Covered Year ($)				Change in Fair Value from the End of the Prior Year to the Vesting Date of Equity Awards Granted in a Prior Year that Vested in the Covered Year ($)				Total Equity Award Adjustments ($)

PEO:
2023		(2,200,000	)			1,979,650				324,700				268,497				372,847
2022		(2,000,000	)			1,207,857				(2,060,916	)			(588,753	)			(3,441,812	)
2021		(1,650,000	)			3,016,670				1,199,856				(36,827	)			2,529,699
Other NEOs:
2023		(600,000	)			539,895				79,961				61,007				80,863
2022		(500,000	)			301,947				(482,383	)			(153,107	)			(833,543	)
2021(1)		(400,000	)			729,898				297,029				7,292				634,219

(1)

Equity adjustments for one of our Other NEOs in fiscal 2021 included options transferred for value pursuant to a qualified domestic relations order.

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid vs. Adjusted Revenue Compensation Actually Paid vs. Net (Loss) Income

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Compensation Actually paid vs. TSR

Tabular List, Table

      Financial Measure:

     

      Adjusted Revenue

     

Total Shareholder Return Amount

$ 82.11

78.13

142.89

Peer Group Total Shareholder Return Amount

95.62

86.24

134.42

Net Income (Loss)

$ (1,500,000)

$ (27,300,000)

$ 4,200,000

Company Selected Measure Amount

107.6

100.0

93.8

Gary R. Maharaj

Pay vs Performance Disclosure

Adjusted Revenue

Non-GAAP Measure Description

The table below provides a reconciliation of Non-GAAP Adjusted Revenue to the comparable GAAP measure:


		Fiscal Year ($)
(in millions)		2023				2022				2021

GAAP Revenue (a)			132.6				100.0				105.1
Adjustments:
Revenue recognized on SurVeil DCB milestone payment (b)			(25.0	)			—				(11.3	)
Adjusted Revenue			107.6				100.0				93.8

(a)

GAAP revenue, as reported.

(b)

Pursuant to the terms of our agreement with Abbott for commercialization rights for the SurVeil DCB, in fiscal 2023, we received a $27.0 million milestone payment, of which $25.0 million was recognized as revenue during fiscal 2023, for obtaining PMA from the FDA for the SurVeil DCB. In fiscal 2021, we received a $15.0 million milestone payment, of which $11.3 million was recognized as revenue during fiscal 2021, for delivery to Abbott of the clinical study report and related materials from the TRANSCEND trial that demonstrated the primary safety and primary clinical endpoints of the trial were met. Due to the unusual nature of this SurVeil DCB milestone revenue, the Organization and Compensation Committee believes that it is more appropriate to assess revenue performance without including such revenue, and therefore excluded the SurVeil DCB milestone from GAAP revenue for purposes of the company-selected measure, Adjusted Revenue, used in the fiscal 2023 annual incentive plan.

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 372,847

$ (3,441,812)

$ 2,529,699

PEO | Equity Award Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

372,847

(3,441,812)

2,529,699

PEO | Deduct: Grant Date Fair Value of Equity Awards Granted in the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(2,200,000)

(2,000,000)

(1,650,000)

PEO | Year-end Fair Value of Equity Awards Granted in the Covered Year that were Unvested at the End of the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,979,650

1,207,857

3,016,670

PEO | Change in Fair Value from the End of the Prior Year to the End of the Covered Year of Equity Awards Granted in a Prior Year that were Unvested at the End of the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

324,700

(2,060,916)

1,199,856

PEO | Change in Fair Value from the End of the Prior Year to the Vesting Date of Equity Awards Granted in a Prior Year that Vested in the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

268,497

(588,753)

(36,827)

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

80,863

(833,543)

634,219

Non-PEO NEO | Equity Award Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

80,863

(833,543)

634,219

Non-PEO NEO | Deduct: Grant Date Fair Value of Equity Awards Granted in the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(600,000)

(500,000)

(400,000)

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in the Covered Year that were Unvested at the End of the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

539,895

301,947

729,898

Non-PEO NEO | Change in Fair Value from the End of the Prior Year to the End of the Covered Year of Equity Awards Granted in a Prior Year that were Unvested at the End of the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

79,961

(482,383)

297,029

Non-PEO NEO | Change in Fair Value from the End of the Prior Year to the Vesting Date of Equity Awards Granted in a Prior Year that Vested in the Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 61,007

$ (153,107)

$ 7,292