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EQUITY-BASED INCENTIVE AWARDS (Tables)
6 Months Ended
Mar. 31, 2014
EQUITY-BASED INCENTIVE AWARDS  
Schedule of stock options issued and outstanding by grant year

Stock options issued and outstanding at March 2014 are summarized as follows:

 

 

 

 

 

 

 

Remaining

 

 

 

Exercisable

 

 

 

Exercise
Price

 

Number
Outstanding

 

Weighted-Average
Contractual Life

 

Weighted-Average
Exercise Price

 

Number
Exercisable

 

Weighted-Average
Exercise Price

 

Fiscal 2007

 

$18.00

 

25,000

 

2.70 years

 

$

18.00

 

25,000

 

$

18.00

 

Fiscal 2010

 

$51.50

 

4,900

 

6.08 years

 

$

51.50

 

2,700

 

$

51.50

 

Fiscal 2012

 

$53.80 - $65.97

 

6,100

 

7.60 years

 

$

54.80

 

2,200

 

$

54.91

 

Fiscal 2013

 

$62.33

 

7,800

 

8.57 years

 

$

62.33

 

1,400

 

$

62.33

 

 

 

 

 

43,800

 

 

 

$

34.77

 

31,300

 

$

25.47

 

Schedule of nonvested restricted stock units awarded

At March 2014, nonvested restricted stock units awarded pursuant to the Company’s Omnibus Plan were as follows:

 

 

 

Restricted Stock
Units(1)

 

Restricted Stock
Units(2)

 

Restricted Stock
Units(3)

 

Date of award:

 

October 26, 2011

 

October 23, 2012

 

October 22, 2013

 

Original number of awards issued:

 

15,900

 

15,000

 

17,900

 

Service period:

 

36 months

 

36 months

 

36-60 months

 

Estimated fair value of award at grant date

 

$855,000

 

$935,000

 

$1,486,000

 

Awards outstanding at March 2014

 

5,300

 

10,000

 

17,900

 

Fair value of non-vested awards at March 2014:

 

$454,000

 

$856,000

 

$1,532,000

 

 

(1)                                 10,600 of the restricted stock units were vested as of March 2014. The remaining 5,300 restricted stock units will vest on October 25, 2014.

 

(2)                                 5,000 of the restricted stock units were vested as of March 2014.  The remaining 10,000 restricted stock units will vest in equal amounts on October 23, 2014 and October 23, 2015.

 

(3)                                 14,000 restricted stock units will vest in equal amounts on October 22, 2014, October 22, 2015, and October 22, 2016.  The remaining 3,900 restricted stock units will vest in equal amounts on October 22, 2014, October 22, 2015, October 22, 2016, October 22, 2017, and October 22, 2018.

Summary of restricted stock unit activity

 

 

Number
of
Shares

 

Weighted
Average
Fair Value

 

Nonvested restricted stock units at September 2013

 

29,600

 

$

81.89

 

Granted

 

17,900

 

83.03

 

Vested

 

(14,300

)

80.68

 

Expired

 

 

 

Nonvested restricted stock units at March 2014

 

33,200

 

$

85.60