EQUITY-BASED INCENTIVE AWARDS (Tables)

6 Months Ended

Mar. 31, 2015

Schedule of assumptions used in connection with the Black-Scholes option pricing calculation


		Stock Option Pricing Assumptions
		Q2 2015
Risk-free interest rate		1.93%
Dividend yield		0.90%
Expected volatility		22.70%
Expected life in years		6

Schedule of stock options issued and outstanding by grant year

Stock options issued and outstanding at March 2015 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	1.70 years	$	18.00	25,000	$	18.00
Fiscal 2010	$51.50	4,000	5.08 years	$	51.50	3,100	$	51.50
Fiscal 2012	$53.80 - $65.97	5,400	6.58 years	$	54.94	3,200	$	54.93
Fiscal 2013	$62.33	7,200	7.57 years	$	62.33	3,400	$	62.33
Fiscal 2015	$81.03	6,000	9.84 years	$	81.03	—	—
		47,600		$	39.65	34,700	$	28.74

Summary of restricted stock unit activity

	Number of Shares		Weighted Average Fair Value
Nonvested restricted stock units at September 2014	32,900		$	84.75
Granted	13,000		83.30
Vested	(15,923	)	82.93
Expired	—		—
Nonvested restricted stock units at March 2015	29,977		$	80.40

Schedule of nonvested restricted stock units awarded

At March 2015, nonvested restricted stock units awarded pursuant to the Company’s Omnibus Plans were as follows:

	Restricted Stock Units(1)	Restricted Stock Units(2)	Restricted Stock Units(3)
Date of award:	October 2012	October 2013	October – December 2014
Original number of awards issued:	15,000	17,600	13,000
Service period:	36 months	36-60 months	36 months
Estimated fair value of award at grant date	$935,000	$1,486,000	$1,083,000
Awards outstanding at March 2015	5,000	11,977	13,000
Fair value of non-vested awards at March 2015:	$402,000	$963,000	$1,045,000

(1)

10,000 of the restricted stock units were vested as of March 2015. The remaining 5,000 restricted stock units will vest in October 2015.

(2)

5,623 of the restricted stock units were vested as of March 2015. 9,337 restricted stock units will vest in equal amounts in October 2015, and October 2016. The remaining 2,640 restricted stock units will vest in equal amounts in October 2015, October 2016, October 2017, and October 2018.

(3)

13,000 restricted stock units will vest in equal amounts in October 2015, October 2016, and October 2017.