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Stock-based Compensation Plans
6 Months Ended
Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-based Compensation Plans

12. Stock-based Compensation Plans

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

 

 

Six Months Ended

 

 

 

March 31,

 

 

March 31,

 

(In thousands)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Product costs

 

$

32

 

 

$

15

 

 

$

69

 

 

$

48

 

Research and development

 

 

305

 

 

 

168

 

 

 

589

 

 

 

430

 

Selling, general and administrative

 

 

1,092

 

 

 

1,121

 

 

 

2,204

 

 

 

2,219

 

Total

 

$

1,429

 

 

$

1,304

 

 

$

2,862

 

 

$

2,697

 

As of March 31, 2021, approximately $10.1 million of total unrecognized compensation costs related to non-vested awards is expected to be recognized over a weighted average period of approximately 2.5 years.

Stock Option Awards

During the six months ended March 31, 2021 and 2020, the Company awarded 234,000 and 261,000 options to officers, directors and key employees with a weighted average grant date fair value per option of $13.86 and $14.24, respectively.

Restricted Stock Awards

During the six months ended March 31, 2021 and 2020, the Company awarded 65,000 and 60,000 restricted stock shares, respectively, to certain key employees and officers with a weighted average grant date fair value per share of $37.48 and $41.88, respectively.

Restricted Stock Unit Awards

During the six months ended March 31, 2021 and 2020, the Company awarded 12,000 and 17,000 restricted stock units, respectively, to directors and to key employees in foreign jurisdictions with a weighted average grant date fair value per unit of $45.13 and $40.73, respectively.

Employee Stock Purchase Plan

Our U.S. employees are eligible to participate in the amended 1999 Employee Stock Purchase Plan (“ESPP”) approved by our shareholders. Shares issued under the ESPP totaled 8,000 and 7,000 for the six months ended March 31, 2021 and 2020, respectively.