Annual report pursuant to Section 13 and 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Stock-Based Compensation (Tables)

v3.19.3.a.u2

Stock-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2019

Share Based Compensation [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the years ended September 30, 2019 and 2018:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Intrinsic Value
Outstanding at September 30, 2017		211,668		$	13.19		3.47	$	454,117
Granted		20,000			32.24		9.02
Outstanding at September 30, 2018		231,668		$	14.84		3.04	$	162,500
Exercisable at September 30, 2018		175,000		$	11.89		2.08	$	162,500

Outstanding at September 30, 2018		231,668		$	14.84		3.04	$	162,500
Forfeited		(31,250	)
Outstanding at September 30, 2019		200,418		$	16.05		2.40	$	26,750
Exercisable at September 30, 2019		168,084		$	13.92		1.44	$	26,750

Summary of Exercise Price for Stock Options Outstanding and Exercisable

The exercise price for stock options outstanding and exercisable at September 30, 2019 is as follows:

Outstanding				Exercisable
Number of		Exercise		Number of		Exercise
Options		Price		Options		Price
	25,000		7.50		25,000		7.50
	31,250		10.00		31,250		10.00
	16,668		10.86		8,334		10.86
	6,250		12.50		6,250		12.50
	6,250		15.00		6,250		15.00
	75,000		15.18		75,000		15.18
	8,000		23.41		8,000		23.41
	8,000		27.60		8,000		27.60
	8,000		31.74		—		—
	8,000		36.50		—		—
	8,000		41.98		—		—
	200,418				168,084

Summary of Non-Vested Shares

The following table summarizes information about the Company’s non-vested shares as of September 30, 2019:

				Average
	Number of			Grant-Date
Non-vested Shares	Shares			Fair Value
Non-vested at September 30, 2018		48,501		$	25.53
Vested		(12,167	)	$	21.87
Non-vested at September 30, 2019		36,334		$	26.76

Summary of Assumptions in Calculating Fair Value of Stock Options Granted

The assumptions used in calculating the fair value of stock options granted use the Black-Scholes option pricing model for options granted during September 30, 2018 are as follows:

Risk-free interest rate		1.25%
Expected life of the options		5 and 10 years
Expected volatility		107%
Expected dividend yield		0%

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