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Stock-Based Compensation Plans (Tables)
12 Months Ended
Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expenses

The Company’s stock-based compensation expenses for the years ended September 30 were allocated to the following expense categories

 

 

 

2016

 

 

2015

 

 

2014

 

Product costs

 

$

22

 

 

$

24

 

 

$

16

 

Research and development

 

 

324

 

 

 

226

 

 

 

175

 

Selling, general and administrative

 

 

3,498

 

 

 

2,131

 

 

 

3,146

 

Total stock-based compensation expense

 

$

3,844

 

 

$

2,381

 

 

$

3,337

 

 

Assumptions Used in Stock Option Plans

The assumptions used as inputs in the model for the years ended September 30 were as follows:

 

 

 

2016

 

 

2015

 

 

2014

 

Risk-free interest rates

 

 

1.89

%

 

 

1.43

%

 

 

1.19

%

Expected life

 

4.6 years

 

 

4.5 years

 

 

4.6 years

 

Expected volatility

 

 

37

%

 

 

43

%

 

 

45

%

Dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 

Schedule of Stock Option Activity

The following table summarizes all stock options activity and stock options outstanding and exercisable under the stock option plans during fiscal 2016, 2015 and 2014:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise Price

 

Outstanding at September 30, 2013

 

 

1,368,984

 

 

$

20.13

 

Granted

 

 

138,837

 

 

 

22.71

 

Exercised

 

 

(190,434

)

 

 

14.42

 

Forfeited and expired

 

 

(106,768

)

 

 

31.26

 

Outstanding at September 30, 2014

 

 

1,210,619

 

 

 

20.35

 

Granted

 

 

164,401

 

 

 

21.24

 

Exercised

 

 

(166,422

)

 

 

14.54

 

Forfeited and expired

 

 

(90,590

)

 

 

35.35

 

Outstanding at September 30, 2015

 

 

1,118,008

 

 

 

20.10

 

Granted

 

 

241,582

 

 

 

20.63

 

Exercised

 

 

(437,850

)

 

 

15.68

 

Forfeited and expired

 

 

(94,415

)

 

 

31.52

 

Outstanding at September 30, 2016

 

 

827,325

 

 

$

21.30

 

Exercisable at September 30, 2016

 

 

434,876

 

 

$

21.50

 

 

Schedule of Restricted Stock Awards Activity

The following table summarizes all restricted stock awards activity during fiscal 2016, 2015 and 2014:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Price

 

Balance at September 30, 2013

 

 

5,234

 

 

$

23.88

 

Granted

 

 

22,155

 

 

 

22.67

 

Vested

 

 

(7,991

)

 

 

23.98

 

Forfeited

 

 

(774

)

 

 

22.58

 

Balance at September 30, 2014

 

 

18,624

 

 

 

22.45

 

Granted

 

 

18,073

 

 

 

21.84

 

Vested

 

 

(7,606

)

 

 

22.28

 

Forfeited

 

 

(1,316

)

 

 

22.16

 

Balance at September 30, 2015

 

 

27,775

 

 

 

22.12

 

Granted

 

 

20,108

 

 

 

20.14

 

Vested

 

 

(12,311

)

 

 

22.19

 

Forfeited

 

 

(2,439

)

 

 

21.17

 

Balance at September 30, 2016

 

 

33,133

 

 

$

20.96

 

 

Schedule of Fair Value at the Date of Grant

 


The aggregate number of shares that could be awarded to key employees if the minimum, target and maximum performance goals are met, based upon the fair value at the date of grant is as follows:

 

Performance Period

 

Minimum Shares

 

 

Target Shares

 

 

Maximum Shares

 

Fiscal 2014 - 2016

 

 

7,861

 

 

 

39,303

 

 

 

78,606

 

Fiscal 2015 – 2017

 

 

8,440

 

 

 

42,199

 

 

 

84,398

 

Fiscal 2016 – 2018

 

 

13,268

 

 

 

66,338

 

 

 

132,676