The Company has stock-based compensation plans approved by its shareholders under which it grants stock options, restricted stock awards, restricted stock units and deferred stock units to officers, directors and key employees. Stock-based compensation expense was reported as follows in the condensed consolidated statements of operations:


	Three Months Ended March 31,				Six Months Ended March 31,
(In thousands)	2024		2023		2024		2023
Product costs	$	70	$	72	$	142	$	139
Research and development		389		329		759		703
Selling, general and administrative		1,667		1,381		3,193		2,905
Total	$	2,126	$	1,782	$	4,094	$	3,747

As of March 31, 2024, unrecognized compensation costs related to non-vested awards totaled approximately $14.9 million, which is expected to be recognized over a weighted average period of approximately 2.4 years.

The Company awards stock options to officers, directors and key employees and uses the Black-Scholes option pricing model to determine the fair value of stock options as of the date of each grant. Stock option grant activity was as follows:


	Six Months Ended March 31,
	2024		2023
Stock option grant activity:
Stock options granted		281,000		293,000
Weighted average grant date fair value	$	15.70	$	15.27
Weighted average exercise price	$	33.40	$	35.40

During the six months ended March 31, 2024 and 2023, the Company awarded 102,000 and 99,000 restricted stock shares, respectively, to certain key employees and officers with a weighted average grant date fair value per share of $33.53 and $36.05, respectively. Restricted Stock is valued based on the market value of the shares as of the date of grant.

During each of the six months ended March 31, 2024 and 2023, the Company awarded 14,000 and 16,000 restricted stock units (“RSUs”), respectively, to directors and to key employees in foreign jurisdictions with a weighted average grant date fair value per unit of $32.49 and $31.72, respectively. RSUs are valued based on the market value of the shares as of the date of grant.