Quarterly report pursuant to Section 13 or 15(d)

Share-Based Payments (Tables)

v3.5.0.2
Share-Based Payments (Tables)
 9 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Restricted Stock Activity
The transactions for restricted stock for the nine months ended June 30, 2016 were as follows:
 
Shares
 
Weighted-
average
grant-date
fair value
Non-vested at September 30, 2015
570,567

 
$
33.66

Granted
227,125

 
51.89

Vested
(266,950
)
 
30.56

Expired or forfeited
(4,665
)
 
45.71

Non-vested at June 30, 2016
526,077

 
$
45.16

Stock Option Activity
The transactions for shares under options for the nine months ended June 30, 2016 were as follows:
 
Shares
 
Weighted-
average
exercise price
 
Weighted-
average
remaining
contractual term
 
Aggregate
intrinsic
value
Outstanding, September 30, 2015
337,938

 
$
39.19

 
 
 
 
Exercised
(131,261
)
 
39.47

 
 
 
 
Expired or forfeited
(98,745
)
 
37.33

 
 
 
 
Outstanding, June 30, 2016
107,932

 
40.56

 
0.37
 
$
1,628

Exercisable, June 30, 2016
30,766

 
$
40.56

 
0.37
 
$
464

Non-vested Options Activity
The transactions for non-vested options for the nine-months ended June 30, 2016 were as follows:
 
 
 
Weighted-average
grant-date
 
Shares
 
fair value
Non-vested at September 30, 2015
166,406

 
$
12.43

Expired or forfeited
(89,240
)
 
12.56

Non-vested at June 30, 2016
77,166

 
$
12.29

Assumptions used in Estimating Fair Value
The following table indicates the assumptions used in estimating the fair value of restricted stock granted during the nine-month periods ended June 30, 2016 and 2015.
 
Nine Months Ended
June 30,
 
2016
 
2015
Expected volatility
20.7
%
 
22.2
%
Dividend yield
1.0
%
 
1.0
%
Average risk-free interest rate
1.7
%
 
1.7
%
Average expected term (years)
2.1

 
1.8