Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
9 Months Ended
Jun. 30, 2021
Share Based Compensation [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the twelve months ended September 30, 2020 and the nine months ended June 30, 2021:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual Life

 

 

Intrinsic
Value

 

Outstanding at September 30, 2019

 

 

200,418

 

 

$

16.37

 

 

 

2.40

 

 

$

27

 

Forfeited

 

 

(81,250

)

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2020

 

 

119,168

 

 

$

19.07

 

 

 

2.71

 

 

$

 

Exercisable at September 30, 2020

 

 

95,001

 

 

$

15.50

 

 

 

1.55

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2020

 

 

119,168

 

 

$

19.07

 

 

 

2.71

 

 

$

 

Granted

 

 

2,500

 

 

$

42.75

 

 

 

 

 

 

 

Exercised

 

 

(16,668

)

 

$

10.86

 

 

 

 

 

 

 

Outstanding at June 30, 2021

 

 

105,000

 

 

$

20.93

 

 

 

2.95

 

 

$

1,290

 

Exercisable at June 30, 2021

 

 

90,500

 

 

$

17.78

 

 

 

2.20

 

 

$

1,290

 

Summary of Exercise Price for Stock Options Outstanding and Exercisable

The exercise price for stock options outstanding and exercisable outstanding at June 30, 2021 is as follows:

 

Outstanding

 

 

Exercisable

 

Number of Options

 

 

Exercise Price ($)

 

 

Number of Options

 

 

Exercise Price ($)

 

 

25,000

 

 

 

10.00

 

 

 

25,000

 

 

 

10.00

 

 

6,250

 

 

 

12.50

 

 

 

6,250

 

 

 

12.50

 

 

6,250

 

 

 

15.00

 

 

 

6,250

 

 

 

15.00

 

 

25,000

 

 

 

15.18

 

 

 

25,000

 

 

 

15.18

 

 

8,000

 

 

 

23.41

 

 

 

8,000

 

 

 

23.41

 

 

1,250

 

 

 

23.89

 

 

 

 

 

 

 

 

8,000

 

 

 

27.60

 

 

 

8,000

 

 

 

27.60

 

 

8,000

 

 

 

31.74

 

 

 

8,000

 

 

 

31.74

 

 

8,000

 

 

 

36.50

 

 

 

4,000

 

 

 

36.50

 

 

8,000

 

 

 

41.98

 

 

 

 

 

 

 

 

1,250

 

 

 

61.60

 

 

 

 

 

 

 

 

105,000

 

 

 

 

 

 

90,500

 

 

 

 

Summary of Non-Vested Shares

The following table summarizes information about the Company’s non-vested shares outstanding as of June 30, 2021:

 

Non-vested Shares

 

Number of
Shares

 

 

Average
Grant-Date
Fair Value

 

Non-vested at September 30, 2020

 

 

24,167

 

 

$

33.10

 

Granted

 

 

2,500

 

 

$

23.89

 

Vested

 

 

(12,167

)

 

$

39.78

 

Non-vested at June 30, 2021

 

 

14,500

 

 

$

40.60

 

Summary of Black-Scholes Model Valuation Assumptions for Stock Options Granted

The following table depicts the Black-Scholes model valuation assumptions for the stock options granted during the nine months ended June 30, 2021. There were no stock option grants during the nine months ended June 30, 2020.

 

Risk-free interest rate

 

1.10%

Expected life of the options

 

6 years

Expected volatility

 

97%

Expected dividend yield

 

0%