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EQUITY-BASED INCENTIVE AWARDS (Tables)
9 Months Ended
Jun. 30, 2015
EQUITY-BASED INCENTIVE AWARDS  
Schedule of stock options issued and outstanding by grant year

 

The stock options issued by the Company expire ten years from the grant date and include graded vesting schedules ranging between three and five years. Stock options issued and outstanding at June 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 

 

1.45 years

 

$

18.00 

 

25,000 

 

$

18.00 

 

Fiscal 2010

 

$51.50

 

3,500 

 

4.83 years

 

$

51.50 

 

3,500 

 

$

51.50 

 

Fiscal 2012

 

$53.80 - $65.97

 

4,900 

 

6.33 years

 

$

55.15 

 

2,700 

 

$

55.04 

 

Fiscal 2013

 

$62.33

 

6,700 

 

7.32 years

 

$

62.33 

 

2,900 

 

$

62.33 

 

Fiscal 2015

 

$81.03

 

6,000 

 

9.59 years

 

$

81.03 

 

 

 

 

 

 

 

46,100 

 

 

 

$

39.13 

 

34,100 

 

$

28.15 

 

 

Schedule of nonvested restricted stock units awarded

 

 

At June 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 June 2015

 

5,000

 

11,977

 

13,000

Fair value of non-vested awards at June 2015:

 

$398,000

 

$953,000

 

$1,034,000

 

 

(1)

10,000 of the restricted stock units were vested as of June 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 June 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.

 

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

 

Forfeited/Expired

 

 

 

 

 

 

 

 

 

Nonvested restricted stock units at June 2015

 

29,977

 

$

80.40