Quarterly report pursuant to Section 13 or 15(d)

Equity and Stock-Based Compensation (Tables)

v3.22.1
Equity and Stock-Based Compensation (Tables)
6 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes our stock option activity during the six months ended March 31, 2022:

 

 

 

Options

 

 

Weighted
Average
Exercise Price

 

Outstanding at beginning of period

 

 

608,269

 

 

$

6.48

 

Granted

 

 

105,500

 

 

 

14.24

 

Exercised

 

 

(17,371

)

 

 

5.69

 

Forfeited

 

 

(18,953

)

 

 

6.56

 

Outstanding at end of period

 

 

677,445

 

 

$

7.71

 

Exercisable at end of period

 

 

472,697

 

 

$

6.69

 

Weighted average fair value of options granted
   during the period

 

$

7.07

 

 

 

 

Schedule of Fair Value of Stock Option Using Black-Scholes Option Pricing Model

The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Six Months Ended March 31, 2022

 

Risk free interest rate

 

 

1

%

Expected life

 

5 years

 

Dividend rate

 

 

%

Volatility

 

 

57

%