Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

9 Months Ended

Jun. 30, 2021

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%